Rathbones Group PLC Reduces Position in MAG Silver Corp. (NYSEAMERICAN:MAG)

Rathbones Group PLC lessened its holdings in shares of MAG Silver Corp. (NYSEAMERICAN:MAG) by 19.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,037 shares of the company’s stock after selling 4,000 shares during the period. Rathbones Group PLC’s holdings in MAG Silver were worth $199,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Tidal Investments LLC purchased a new stake in shares of MAG Silver in the 1st quarter valued at approximately $22,518,000. Allspring Global Investments Holdings LLC acquired a new position in shares of MAG Silver in the 2nd quarter worth approximately $9,932,000. Van ECK Associates Corp lifted its holdings in shares of MAG Silver by 7.5% in the 1st quarter. Van ECK Associates Corp now owns 9,981,600 shares of the company’s stock worth $105,603,000 after acquiring an additional 696,140 shares during the last quarter. Azarias Capital Management L.P. lifted its holdings in shares of MAG Silver by 73.7% in the 1st quarter. Azarias Capital Management L.P. now owns 1,405,136 shares of the company’s stock worth $14,866,000 after acquiring an additional 596,283 shares during the last quarter. Finally, TD Asset Management Inc lifted its holdings in shares of MAG Silver by 118.3% in the 2nd quarter. TD Asset Management Inc now owns 1,063,055 shares of the company’s stock worth $12,415,000 after acquiring an additional 576,156 shares during the last quarter. Hedge funds and other institutional investors own 52.50% of the company’s stock.

Wall Street Analysts Forecast Growth

MAG has been the topic of several recent analyst reports. Scotiabank upped their price objective on shares of MAG Silver from $14.50 to $15.50 and gave the stock a “sector outperform” rating in a report on Monday, August 19th. HC Wainwright upped their price objective on shares of MAG Silver from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $18.00.

MAG Silver Trading Up 0.3 %

MAG Silver stock opened at $14.46 on Wednesday. The company has a market cap of $1.49 billion, a price-to-earnings ratio of 25.81 and a beta of 1.14. MAG Silver Corp. has a 52-week low of $8.19 and a 52-week high of $14.67.

MAG Silver (NYSEAMERICAN:MAG) last released its earnings results on Friday, August 2nd. The company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.02. Equities analysts expect that MAG Silver Corp. will post 0.67 earnings per share for the current fiscal year.

MAG Silver Profile

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.