Geode Capital Management LLC Sells 758 Shares of MAG Silver Corp. (NYSEAMERICAN:MAG)

Geode Capital Management LLC decreased its holdings in MAG Silver Corp. (NYSEAMERICAN:MAG) by 1.5% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 48,843 shares of the company’s stock after selling 758 shares during the quarter. Geode Capital Management LLC’s holdings in MAG Silver were worth $690,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of MAG. Van ECK Associates Corp raised its stake in MAG Silver by 4.8% in the third quarter. Van ECK Associates Corp now owns 10,231,410 shares of the company’s stock worth $143,649,000 after buying an additional 467,817 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of MAG Silver by 199.7% during the third quarter. The Manufacturers Life Insurance Company now owns 382,027 shares of the company’s stock worth $5,374,000 after purchasing an additional 254,553 shares in the last quarter. Mackenzie Financial Corp increased its position in shares of MAG Silver by 310.5% during the second quarter. Mackenzie Financial Corp now owns 190,385 shares of the company’s stock worth $2,224,000 after purchasing an additional 144,007 shares in the last quarter. PCJ Investment Counsel Ltd. increased its position in shares of MAG Silver by 38.1% during the third quarter. PCJ Investment Counsel Ltd. now owns 369,290 shares of the company’s stock worth $5,196,000 after purchasing an additional 101,870 shares in the last quarter. Finally, Gabelli Funds LLC increased its position in shares of MAG Silver by 12.2% during the second quarter. Gabelli Funds LLC now owns 459,000 shares of the company’s stock worth $5,357,000 after purchasing an additional 50,000 shares in the last quarter. Institutional investors own 52.50% of the company’s stock.

MAG Silver Stock Performance

Shares of MAG opened at $14.04 on Friday. The firm has a market cap of $1.45 billion, a PE ratio of 19.77 and a beta of 1.07. MAG Silver Corp. has a 1-year low of $8.19 and a 1-year high of $18.27.

MAG Silver (NYSEAMERICAN:MAG) last announced its quarterly earnings data on Tuesday, November 12th. The company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.02. Sell-side analysts anticipate that MAG Silver Corp. will post 0.75 EPS for the current fiscal year.

Wall Street Analyst Weigh In

MAG has been the topic of a number of recent analyst reports. HC Wainwright upped their price target on MAG Silver from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Roth Mkm downgraded MAG Silver from a “buy” rating to a “neutral” rating and upped their price target for the stock from $17.00 to $17.50 in a research report on Thursday, October 24th. Roth Capital downgraded MAG Silver from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 24th. Finally, StockNews.com raised MAG Silver from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, MAG Silver currently has an average rating of “Hold” and a consensus target price 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.