UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $1.89 Million Stake in MAG Silver Corp. (NYSEAMERICAN:MAG)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its position in MAG Silver Corp. (NYSEAMERICAN:MAG) by 12.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 134,564 shares of the company’s stock after selling 19,904 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.13% of MAG Silver worth $1,889,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of MAG. Quantbot Technologies LP bought a new stake in MAG Silver in the third quarter worth approximately $52,000. The Manufacturers Life Insurance Company grew its position in shares of MAG Silver by 199.7% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 382,027 shares of the company’s stock worth $5,374,000 after buying an additional 254,553 shares during the period. Pekin Hardy Strauss Inc. bought a new stake in shares of MAG Silver in the 3rd quarter valued at $140,000. PCJ Investment Counsel Ltd. lifted its position in shares of MAG Silver by 38.1% during the 3rd quarter. PCJ Investment Counsel Ltd. now owns 369,290 shares of the company’s stock valued at $5,196,000 after acquiring an additional 101,870 shares during the period. Finally, Capital Performance Advisors LLP bought a new position in MAG Silver during the third quarter worth $28,000. 52.50% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have issued reports on MAG. HC Wainwright increased their price target on MAG Silver from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Scotiabank lifted their price target on shares of MAG Silver from $14.50 to $15.50 and gave the company a “sector outperform” rating in a research report on Monday, August 19th. Roth Capital lowered shares of MAG Silver from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 24th. StockNews.com raised shares of MAG Silver from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Finally, Roth Mkm downgraded shares of MAG Silver from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $17.00 to $17.50 in a research report on Thursday, October 24th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, MAG Silver presently has an average rating of “Hold” and an average target price of $18.38.

MAG Silver Price Performance

MAG opened at $14.94 on Monday. MAG Silver Corp. has a twelve month low of $8.19 and a twelve month high of $18.27. The stock has a market capitalization of $1.54 billion, a PE ratio of 21.04 and a beta of 1.07.

MAG Silver (NYSEAMERICAN:MAG) last announced its quarterly earnings results on Tuesday, November 12th. The company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.02. On average, equities research analysts anticipate that MAG Silver Corp. will post 0.75 EPS for the current fiscal year.

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.