Veracity Capital LLC Sells 2,042 Shares of MAG Silver Corp. (NYSEAMERICAN:MAG)

Veracity Capital LLC decreased its stake in shares of MAG Silver Corp. (NYSEAMERICAN:MAG) by 12.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 14,257 shares of the company’s stock after selling 2,042 shares during the quarter. Veracity Capital LLC’s holdings in MAG Silver were worth $166,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in MAG. Oppenheimer & Co. Inc. lifted its position in MAG Silver by 23.4% in the first quarter. Oppenheimer & Co. Inc. now owns 455,150 shares of the company’s stock worth $4,815,000 after purchasing an additional 86,440 shares during the period. Azarias Capital Management L.P. boosted its position in shares of MAG Silver by 73.7% during the 1st quarter. Azarias Capital Management L.P. now owns 1,405,136 shares of the company’s stock valued at $14,866,000 after acquiring an additional 596,283 shares in the last quarter. Janus Henderson Group PLC bought a new stake in MAG Silver in the first quarter valued at about $3,925,000. Jupiter Asset Management Ltd. raised its position 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 worth $26,584,000 after purchasing an additional 153,274 shares in the last quarter. Finally, CIBC Asset Management Inc boosted its holdings in MAG Silver by 3.0% during the fourth quarter. CIBC Asset Management Inc now owns 90,881 shares of the company’s stock valued at $949,000 after purchasing an additional 2,652 shares in the last quarter. Institutional investors and hedge funds own 52.50% of the company’s stock.

MAG Silver Price Performance

NYSEAMERICAN:MAG traded up $0.17 on Wednesday, hitting $13.76. The company had a trading volume of 303,295 shares, compared to its average volume of 747,114. MAG Silver Corp. has a 52 week low of $8.19 and a 52 week high of $14.30. The company has a market cap of $1.42 billion, a price-to-earnings ratio of 24.34 and a beta of 1.12.

MAG Silver (NYSEAMERICAN:MAG) last posted its earnings results on Friday, August 2nd. The company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.02. As a group, analysts expect that MAG Silver Corp. will post 0.65 EPS for the current year.

Wall Street Analysts Forecast Growth

MAG has been the topic of a number of recent analyst reports. Ventum Cap Mkts lowered MAG Silver from a “buy” rating to a “neutral” rating in a research note on Friday, May 3rd. Stifel Nicolaus upped their price objective on MAG Silver from $20.25 to $20.50 and gave the company a “buy” rating in a report on Wednesday, May 15th. HC Wainwright lifted their price objective on shares of MAG Silver from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Finally, Scotiabank raised their target price on shares of MAG Silver from $14.50 to $15.50 and gave the company a “sector outperform” rating in a research note on Monday. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat, MAG Silver presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.38.

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.