Northwest & Ethical Investments L.P. Lowers Holdings in MAG Silver Corp. (NYSEAMERICAN:MAG)

Northwest & Ethical Investments L.P. reduced its position in shares of MAG Silver Corp. (NYSEAMERICAN:MAG) by 11.8% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,704 shares of the company’s stock after selling 760 shares during the quarter. Northwest & Ethical Investments L.P.’s holdings in MAG Silver were worth $80,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. CANADA LIFE ASSURANCE Co grew its position in shares of MAG Silver by 377.0% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 47,459 shares of the company’s stock worth $499,000 after buying an additional 37,509 shares in the last quarter. Janus Henderson Group PLC purchased a new stake in MAG Silver in the first quarter worth about $3,925,000. Addenda Capital Inc. bought a new position in MAG Silver during the 2nd quarter worth about $123,000. Corundum Trust Company INC purchased a new position in MAG Silver during the 2nd quarter valued at about $329,000. Finally, Allspring Global Investments Holdings LLC bought a new stake in shares of MAG Silver in the 2nd quarter valued at about $9,932,000. 52.50% of the stock is currently owned by hedge funds and other institutional investors.

MAG Silver Trading Up 0.1 %

Shares of MAG stock opened at $15.37 on Monday. MAG Silver Corp. has a 1-year low of $8.19 and a 1-year high of $18.27. The firm has a market cap of $1.59 billion, a P/E ratio of 21.65 and a beta of 1.12.

MAG Silver (NYSEAMERICAN:MAG) last posted its quarterly earnings data 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 forecast that MAG Silver Corp. will post 0.75 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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