MAG Silver Corp. (NYSEAMERICAN:MAG) Shares Acquired by Raymond James Financial Services Advisors Inc.

Raymond James Financial Services Advisors Inc. increased its stake in MAG Silver Corp. (NYSEAMERICAN:MAG) by 6.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 63,884 shares of the company’s stock after acquiring an additional 3,950 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in MAG Silver were worth $665,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Advisor Group Holdings Inc. raised its stake in MAG Silver by 73.4% in the first quarter. Advisor Group Holdings Inc. now owns 24,835 shares of the company’s stock valued at $394,000 after buying an additional 10,513 shares in the last quarter. Cetera Advisor Networks LLC acquired a new stake in MAG Silver in the first quarter valued at $219,000. BlackRock Inc. grew its holdings in shares of MAG Silver by 1.0% during the first quarter. BlackRock Inc. now owns 670,578 shares of the company’s stock worth $10,843,000 after purchasing an additional 6,578 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of MAG Silver by 115.8% during the first quarter. Dimensional Fund Advisors LP now owns 307,218 shares of the company’s stock worth $4,968,000 after purchasing an additional 164,859 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of MAG Silver by 7.9% during the first quarter. Vanguard Group Inc. now owns 54,836 shares of the company’s stock worth $886,000 after purchasing an additional 4,024 shares during the last quarter. 52.50% of the stock is currently owned by institutional investors and hedge funds.

MAG Silver Stock Performance

Shares of MAG opened at $12.14 on Thursday. MAG Silver Corp. has a twelve month low of $8.19 and a twelve month high of $13.70. The company has a market capitalization of $1.25 billion, a price-to-earnings ratio of 25.82 and a beta of 1.15.

MAG Silver (NYSEAMERICAN:MAG) last announced its quarterly earnings data on Tuesday, March 19th. The company reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.01. Analysts expect that MAG Silver Corp. will post 0.47 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on MAG. Scotiabank raised MAG Silver from a “sector perform” rating to a “sector outperform” rating and dropped their price objective for the stock from $15.00 to $13.50 in a report on Thursday, March 28th. StockNews.com raised MAG Silver to a “sell” rating in a report on Wednesday, March 27th. Stifel Nicolaus lowered their price target on MAG Silver from $20.00 to $19.00 and set a “buy” rating on the stock in a report on Wednesday, March 20th. Finally, HC Wainwright lowered their price target on MAG Silver from $19.50 to $16.00 and set a “buy” rating on the stock in a report on Thursday, April 4th. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, MAG Silver currently has an average rating of “Moderate Buy” and a consensus target price of $18.00.

About MAG Silver

MAG Silver Corp. develops and explores for precious metal properties in Canada. It explores for silver, gold, lead, copper, and zinc deposits. The company's flagship property is the 44% owned Juanicipio property located in the Fresnillo District, Zacatecas State, Mexico. MAG Silver Corp. is headquartered in Vancouver, Canada.