Duality Advisers LP Takes $255,000 Position in MAG Silver Corp. (NYSEAMERICAN:MAG)

Duality Advisers LP purchased a new position in MAG Silver Corp. (NYSEAMERICAN:MAG) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 24,467 shares of the company’s stock, valued at approximately $255,000.

Other institutional investors also recently added to or reduced their stakes in the company. Van ECK Associates Corp lifted its position in shares of MAG Silver by 4.4% in the 3rd quarter. Van ECK Associates Corp now owns 9,746,401 shares of the company’s stock worth $101,069,000 after purchasing an additional 406,335 shares during the period. Raymond James Financial Services Advisors Inc. boosted its stake in shares of MAG Silver by 6.6% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 63,884 shares of the company’s stock valued at $665,000 after purchasing an additional 3,950 shares in the last quarter. Quadrature Capital Ltd bought a new position in shares of MAG Silver during the third quarter valued at approximately $127,000. Oppenheimer & Co. Inc. boosted its stake in shares of MAG Silver by 1.9% during the third quarter. Oppenheimer & Co. Inc. now owns 361,116 shares of the company’s stock valued at $3,745,000 after purchasing an additional 6,895 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in shares of MAG Silver by 8.8% during the third quarter. Invesco Ltd. now owns 1,465,920 shares of the company’s stock valued at $15,202,000 after purchasing an additional 118,211 shares in the last quarter. Hedge funds and other institutional investors own 52.50% of the company’s stock.

MAG Silver Price Performance

Shares of MAG Silver stock opened at $12.97 on Friday. MAG Silver Corp. has a 1 year low of $8.19 and a 1 year high of $13.62. The firm has a market cap of $1.34 billion, a P/E ratio of 27.60 and a beta of 1.15.

MAG Silver (NYSEAMERICAN:MAG) last issued its earnings results on Tuesday, March 19th. The company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.01. As a group, equities analysts anticipate that MAG Silver Corp. will post 0.55 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Scotiabank upgraded shares of MAG Silver from a “sector perform” rating to a “sector outperform” rating and lowered their target price for the company from $15.00 to $13.50 in a research note on Thursday, March 28th. HC Wainwright raised their target price on shares of MAG Silver from $16.00 to $17.00 and gave the company a “buy” rating in a research note on Thursday. Stifel Nicolaus lowered their target price on shares of MAG Silver from $20.00 to $19.00 and set a “buy” rating for the company in a research note on Wednesday, March 20th. Finally, StockNews.com upgraded shares of MAG Silver to a “sell” rating in a research note on Wednesday, March 27th. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $18.25.

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.