The Manufacturers Life Insurance Company Boosts Position in MAG Silver Corp. (NYSEAMERICAN:MAG)

The Manufacturers Life Insurance Company boosted its holdings in MAG Silver Corp. (NYSEAMERICAN:MAG - Free Report) by 199.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 382,027 shares of the company's stock after purchasing an additional 254,553 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.37% of MAG Silver worth $5,374,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Capital Performance Advisors LLP bought a new position in shares of MAG Silver in the third quarter worth approximately $28,000. Addenda Capital Inc. bought a new stake in MAG Silver in the 2nd quarter worth $123,000. Pekin Hardy Strauss Inc. purchased a new position in shares of MAG Silver in the third quarter valued at about $140,000. International Assets Investment Management LLC bought a new position in shares of MAG Silver during the third quarter valued at about $148,000. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in shares of MAG Silver during the second quarter worth about $161,000. 52.50% of the stock is currently owned by hedge funds and other institutional investors.

MAG Silver Trading Down 1.4 %

MAG stock traded down $0.21 during midday trading on Friday, hitting $15.13. The company's stock had a trading volume of 672,502 shares, compared to its average volume of 718,175. The stock has a market capitalization of $1.56 billion, a PE ratio of 21.59 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 - Get Free Report) last released its quarterly earnings data on Tuesday, November 12th. The company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.20 by $0.02. On average, research analysts predict that MAG Silver Corp. will post 0.75 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on MAG shares. Roth Mkm downgraded MAG Silver from a "buy" rating to a "neutral" rating and boosted their price target for the company from $17.00 to $17.50 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 Capital cut shares of MAG Silver from a "strong-buy" rating to a "hold" rating in a report on Thursday, October 24th. Scotiabank upped their price objective on shares of MAG Silver from $14.50 to $15.50 and gave the stock a "sector outperform" rating in a report on Monday, August 19th. Finally, HC Wainwright raised their target price 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. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $18.38.

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.