Connor Clark & Lunn Investment Management Ltd. Trims Stock Position in MAG Silver Corp. (NYSEAMERICAN:MAG)

Connor Clark & Lunn Investment Management Ltd. decreased its position in shares of MAG Silver Corp. (NYSEAMERICAN:MAG) by 0.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,088,400 shares of the company’s stock after selling 8,300 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in MAG Silver were worth $15,313,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Capital Performance Advisors LLP acquired a new stake in shares of MAG Silver in the 3rd quarter worth $28,000. Veracity Capital LLC grew its stake in MAG Silver by 16.8% in the 3rd quarter. Veracity Capital LLC now owns 16,653 shares of the company’s stock valued at $234,000 after acquiring an additional 2,396 shares during the last quarter. Perritt Capital Management Inc. purchased a new position in shares of MAG Silver during the 1st quarter worth approximately $26,000. Gamco Investors INC. ET AL lifted its position in shares of MAG Silver by 15.0% in the first quarter. Gamco Investors INC. ET AL now owns 44,970 shares of the company’s stock valued at $476,000 after acquiring an additional 5,850 shares in the last quarter. Finally, CIBC Asset Management Inc raised its stake in MAG Silver by 8.7% in the 2nd quarter. CIBC Asset Management Inc now owns 115,179 shares of the company’s stock valued at $1,345,000 after purchasing an additional 9,173 shares during the last quarter. Hedge funds and other institutional investors own 52.50% of the company’s stock.

MAG Silver Stock Down 0.5 %

Shares of NYSEAMERICAN:MAG opened at $15.70 on Thursday. MAG Silver Corp. has a fifty-two week low of $8.19 and a fifty-two week high of $18.27. The stock has a market cap of $1.62 billion, a P/E ratio of 22.23 and a beta of 1.12.

MAG Silver (NYSEAMERICAN:MAG) last announced its quarterly earnings results on Tuesday, November 12th. The company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.02. On average, equities analysts expect that MAG Silver Corp. will post 0.71 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on MAG. StockNews.com upgraded MAG Silver from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Roth Capital cut MAG Silver from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 24th. HC Wainwright lifted their price target on shares of MAG Silver from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Scotiabank upped their target price on MAG Silver from $14.50 to $15.50 and gave the company a “sector outperform” rating in a research report on Monday, August 19th. Finally, Roth Mkm cut shares of MAG Silver from a “buy” rating to a “neutral” rating and increased their price target for the stock from $17.00 to $17.50 in a research report on Thursday, October 24th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $18.38.

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.