Integrated Advisors Network LLC Sells 77,900 Shares of MAG Silver Corp. (NYSEAMERICAN:MAG)

Integrated Advisors Network LLC lessened its holdings in shares of MAG Silver Corp. (NYSEAMERICAN:MAG) by 63.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 44,150 shares of the company’s stock after selling 77,900 shares during the quarter. Integrated Advisors Network LLC’s holdings in MAG Silver were worth $620,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. International Assets Investment Management LLC acquired a new position in MAG Silver during the third quarter worth $148,000. Veracity Capital LLC increased its holdings in shares of MAG Silver by 16.8% during the 3rd quarter. Veracity Capital LLC now owns 16,653 shares of the company’s stock valued at $234,000 after acquiring an additional 2,396 shares during the last quarter. Cubist Systematic Strategies LLC raised its stake in shares of MAG Silver by 304.8% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 25,569 shares of the company’s stock valued at $299,000 after acquiring an additional 19,253 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in MAG Silver in the 2nd quarter worth approximately $161,000. Finally, Mackenzie Financial Corp boosted its position in MAG Silver by 310.5% during the second quarter. Mackenzie Financial Corp now owns 190,385 shares of the company’s stock worth $2,224,000 after purchasing an additional 144,007 shares during the period. Institutional investors own 52.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on MAG. Roth Mkm lowered shares of MAG Silver from a “buy” rating to a “neutral” rating and lifted their price target for the company from $17.00 to $17.50 in a research report on Thursday, October 24th. Scotiabank lifted their target price 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. Roth Capital lowered shares of MAG Silver from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 24th. HC Wainwright raised their price target on MAG Silver from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Finally, StockNews.com upgraded MAG Silver from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $17.88.

MAG Silver Trading Down 3.6 %

NYSEAMERICAN:MAG opened at $17.09 on Friday. MAG Silver Corp. has a 52-week low of $8.19 and a 52-week high of $18.27. The stock has a market cap of $1.76 billion, a PE ratio of 29.47 and a beta of 1.15.

MAG Silver (NYSEAMERICAN:MAG) last posted its quarterly earnings results on Friday, August 2nd. The company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.19 by $0.02. On average, research analysts expect that MAG Silver Corp. will post 0.69 earnings per share for the current year.

MAG Silver Company 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.