Strategic Financial Concepts LLC Invests $240,000 in MAG Silver Corp. (NYSEAMERICAN:MAG)

Strategic Financial Concepts LLC purchased a new stake in MAG Silver Corp. (NYSEAMERICAN:MAG) in the fourth quarter, HoldingsChannel reports. The firm purchased 17,680 shares of the company’s stock, valued at approximately $240,000.

Several other institutional investors have also recently bought and sold shares of MAG. Capital Performance Advisors LLP bought a new stake in MAG Silver during the 3rd quarter worth about $28,000. Quantbot Technologies LP bought a new stake in shares of MAG Silver during the third quarter worth approximately $52,000. DF Dent & Co. Inc. acquired a new position in MAG Silver in the third quarter valued at approximately $140,000. Pekin Hardy Strauss Inc. bought a new position in MAG Silver in the third quarter valued at approximately $140,000. Finally, International Assets Investment Management LLC bought a new position in MAG Silver in the third quarter valued at approximately $148,000. Institutional investors own 52.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on MAG shares. HC Wainwright increased their price target on MAG Silver from $20.00 to $21.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Roth Capital lowered MAG Silver from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 24th. Roth Mkm cut MAG Silver from a “buy” rating to a “neutral” rating and raised their target price for the stock from $17.00 to $17.50 in a report on Thursday, October 24th. Finally, StockNews.com raised MAG Silver from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $18.63.

MAG Silver Stock Up 4.2 %

NYSEAMERICAN:MAG opened at $16.91 on Thursday. The stock has a market capitalization of $1.75 billion, a price-to-earnings ratio of 23.82 and a beta of 1.09. MAG Silver Corp. has a 1 year low of $8.19 and a 1 year high of $18.27.

MAG Silver (NYSEAMERICAN:MAG) last issued 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. As a group, equities research analysts anticipate that MAG Silver Corp. will post 0.75 earnings per share for the current year.

About MAG Silver

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.