CIBC Asset Management Inc Buys 2,652 Shares of MAG Silver Corp. (NYSEAMERICAN:MAG)

CIBC Asset Management Inc raised its stake in MAG Silver Corp. (NYSEAMERICAN:MAGFree Report) by 3.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 90,881 shares of the company’s stock after purchasing an additional 2,652 shares during the period. CIBC Asset Management Inc owned approximately 0.09% of MAG Silver worth $949,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of MAG. Private Advisor Group LLC raised its stake in shares of MAG Silver by 6.1% in the 4th quarter. Private Advisor Group LLC now owns 24,986 shares of the company’s stock valued at $260,000 after buying an additional 1,447 shares in the last quarter. DORCHESTER WEALTH MANAGEMENT Co boosted its stake in MAG Silver by 12.2% in the fourth quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 29,400 shares of the company’s stock worth $307,000 after purchasing an additional 3,200 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in shares of MAG Silver by 6.6% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 63,884 shares of the company’s stock valued at $665,000 after buying an additional 3,950 shares in the last quarter. Public Sector Pension Investment Board increased its stake in shares of MAG Silver by 2.0% in the third quarter. Public Sector Pension Investment Board now owns 200,173 shares of the company’s stock valued at $2,079,000 after buying an additional 4,012 shares in the last quarter. Finally, Toronto Dominion Bank raised its holdings in shares of MAG Silver by 11.7% in the third quarter. Toronto Dominion Bank now owns 49,634 shares of the company’s stock valued at $515,000 after buying an additional 5,206 shares during the last quarter. 52.50% of the stock is owned by institutional investors.

MAG Silver Price Performance

Shares of MAG Silver stock opened at $12.63 on Monday. The firm has a market cap of $1.30 billion, a price-to-earnings ratio of 22.55 and a beta of 1.14. MAG Silver Corp. has a 52 week low of $8.19 and a 52 week high of $14.30.

MAG Silver (NYSEAMERICAN:MAGGet Free Report) last released its earnings results on Tuesday, May 14th. The company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.04. As a group, sell-side analysts forecast that MAG Silver Corp. will post 0.57 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. StockNews.com upgraded shares of MAG Silver to a “sell” rating in a research report on Wednesday, March 27th. Ventum Cap Mkts cut shares of MAG Silver from a “buy” rating to a “neutral” rating in a research report on Friday, May 3rd. Stifel Nicolaus increased their price objective on MAG Silver from $20.25 to $20.50 and gave the company a “buy” rating in a research report on Wednesday, May 15th. HC Wainwright restated a “buy” rating and set a $17.00 target price on shares of MAG Silver in a research report on Thursday, May 16th. Finally, Scotiabank raised their price target on MAG Silver from $13.50 to $14.50 and gave the company a “sector outperform” rating in a report on Thursday, May 23rd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat, MAG Silver currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.88.

Read Our Latest Report on MAG

MAG Silver Profile

(Free Report)

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.

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Institutional Ownership by Quarter for MAG Silver (NYSEAMERICAN:MAG)

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