JPMorgan Chase & Co. Grows Stake in MAG Silver Corp. (NYSEAMERICAN:MAG)

JPMorgan Chase & Co. lifted its stake in shares of MAG Silver Corp. (NYSEAMERICAN:MAG - Free Report) by 69.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 456,335 shares of the company's stock after purchasing an additional 186,445 shares during the period. JPMorgan Chase & Co. owned approximately 0.44% of MAG Silver worth $6,407,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Tidal Investments LLC boosted its stake in shares of MAG Silver by 3.6% in the 3rd quarter. Tidal Investments LLC now owns 2,810,051 shares of the company's stock valued at $39,453,000 after purchasing an additional 98,312 shares during the last quarter. Barclays PLC raised its position in shares of MAG Silver by 211.5% during the 3rd quarter. Barclays PLC now owns 30,780 shares of the company's stock valued at $432,000 after acquiring an additional 20,899 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new position in shares of MAG Silver in the 3rd quarter valued at $390,000. DF Dent & Co. Inc. bought a new position in shares of MAG Silver in the 3rd quarter worth $140,000. Finally, National Bank of Canada FI grew its stake in shares of MAG Silver by 12.0% during the third quarter. National Bank of Canada FI now owns 225,802 shares of the company's stock worth $3,171,000 after purchasing an additional 24,185 shares during the period. Institutional investors and hedge funds own 52.50% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on MAG shares. Roth Mkm downgraded 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 note on Thursday, October 24th. StockNews.com upgraded shares of MAG Silver from a "sell" rating to a "hold" rating in a research note on Thursday, October 24th. 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 research report on Wednesday, November 13th. Finally, Roth Capital cut 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 assigned a buy rating to the stock. According to data from MarketBeat.com, MAG Silver has a consensus rating of "Hold" and an average price target of $18.38.

MAG Silver Price Performance

Shares of MAG traded up $0.11 during trading hours on Thursday, reaching $15.08. 925,167 shares of the stock traded hands, compared to its average volume of 477,657. MAG Silver Corp. has a 52 week low of $8.19 and a 52 week high of $18.27. The firm has a market capitalization of $1.56 billion, a P/E ratio of 21.24 and a beta of 1.08.

MAG Silver (NYSEAMERICAN:MAG - Get Free Report) last issued its quarterly earnings results on Tuesday, November 12th. The company reported $0.22 EPS for the quarter, beating analysts' consensus estimates of $0.20 by $0.02. On average, equities research analysts expect that MAG Silver Corp. will post 0.75 earnings per share for the current year.

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.