National Bank of Canada FI Has $3.17 Million Position in MAG Silver Corp. (NYSEAMERICAN:MAG)

National Bank of Canada FI boosted its stake in MAG Silver Corp. (NYSEAMERICAN:MAG) by 12.0% in the third quarter, HoldingsChannel reports. The firm owned 225,802 shares of the company’s stock after buying an additional 24,185 shares during the period. National Bank of Canada FI’s holdings in MAG Silver were worth $3,171,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Capital Performance Advisors LLP bought a new stake in shares of MAG Silver during the third quarter valued at approximately $28,000. Veracity Capital LLC increased its stake in 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 purchasing an additional 2,396 shares in the last quarter. Quantbot Technologies LP acquired a new position in MAG Silver during the third quarter worth $52,000. CIBC Asset Management Inc lifted its stake in shares of MAG Silver by 8.7% in the second quarter. CIBC Asset Management Inc now owns 115,179 shares of the company’s stock valued at $1,345,000 after buying an additional 9,173 shares in the last quarter. Finally, Pekin Hardy Strauss Inc. acquired a new position in shares of MAG Silver during the third quarter valued at about $140,000. 52.50% of the stock is owned by institutional investors.

MAG Silver Price Performance

Shares of MAG opened at $14.98 on Friday. The company has a market cap of $1.55 billion, a P/E ratio of 21.10 and a beta of 1.07. MAG Silver Corp. has a 12 month low of $8.19 and a 12 month high of $18.27.

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

Analyst Upgrades and Downgrades

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

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.