Toronto Dominion Bank Grows Stock Position in MAG Silver Corp. (NYSEAMERICAN:MAG)

Toronto Dominion Bank boosted its position in shares of MAG Silver Corp. (NYSEAMERICAN:MAG) by 67.1% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 33,207 shares of the company’s stock after buying an additional 13,340 shares during the quarter. Toronto Dominion Bank’s holdings in MAG Silver were worth $388,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. Van ECK Associates Corp boosted its position in MAG Silver by 7.5% during the 1st quarter. Van ECK Associates Corp now owns 9,981,600 shares of the company’s stock valued at $105,603,000 after acquiring an additional 696,140 shares in the last quarter. Jupiter Asset Management Ltd. raised its stake in MAG Silver by 6.5% in the first quarter. Jupiter Asset Management Ltd. now owns 2,517,445 shares of the company’s stock valued at $26,584,000 after buying an additional 153,274 shares during the last quarter. Tidal Investments LLC acquired a new stake in MAG Silver in the first quarter worth about $22,518,000. Azarias Capital Management L.P. grew its stake in shares of MAG Silver by 73.7% during the first 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 stake in shares of MAG Silver by 118.3% during the second quarter. TD Asset Management Inc now owns 1,063,055 shares of the company’s stock worth $12,415,000 after buying an additional 576,156 shares during the period. Institutional investors own 52.50% of the company’s stock.

MAG Silver Stock Down 3.8 %

Shares of MAG opened at $14.04 on Tuesday. The stock has a market capitalization of $1.45 billion, a P/E ratio of 25.07 and a beta of 1.14. MAG Silver Corp. has a 12-month low of $8.19 and a 12-month high of $15.54.

MAG Silver (NYSEAMERICAN:MAG) last released its quarterly earnings results on Friday, August 2nd. The company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.02. Equities research analysts anticipate that MAG Silver Corp. will post 0.68 EPS for the current year.

Analysts Set New Price Targets

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

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.