HTLF Bank Makes New $291,000 Investment in MAG Silver Corp. (NYSEAMERICAN:MAG)

HTLF Bank acquired a new position in MAG Silver Corp. (NYSEAMERICAN:MAG) in the 4th quarter, Holdings Channel reports. The firm acquired 28,000 shares of the company’s stock, valued at approximately $291,000.

Several other institutional investors have also added to or reduced their stakes in the stock. Van ECK Associates Corp raised its holdings in 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 in the last quarter. First Eagle Investment Management LLC lifted its position in MAG Silver by 0.4% during the 3rd quarter. First Eagle Investment Management LLC now owns 5,737,626 shares of the company’s stock valued at $59,306,000 after acquiring an additional 22,141 shares during the period. Sprott Inc. lifted its position in MAG Silver by 1.1% during the 4th quarter. Sprott Inc. now owns 5,195,576 shares of the company’s stock valued at $81,160,000 after acquiring an additional 57,673 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in MAG Silver by 2.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,542,545 shares of the company’s stock valued at $26,403,000 after acquiring an additional 58,849 shares during the period. Finally, Jupiter Asset Management Ltd. lifted its position in MAG Silver by 1.7% during the 3rd quarter. Jupiter Asset Management Ltd. now owns 2,364,171 shares of the company’s stock valued at $24,551,000 after acquiring an additional 38,784 shares during the period. 52.50% of the stock is currently owned by institutional investors.

MAG Silver Price Performance

MAG opened at $12.40 on Friday. The company has a market capitalization of $1.28 billion, a price-to-earnings ratio of 25.87 and a beta of 1.15. MAG Silver Corp. has a 1-year low of $8.19 and a 1-year high of $13.62.

MAG Silver (NYSEAMERICAN:MAG) last posted its quarterly earnings results on Tuesday, March 19th. The company reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.01. Equities research analysts anticipate that MAG Silver Corp. will post 0.47 earnings per share for the current fiscal year.

Analysts Set New Price Targets

MAG has been the subject of a number of recent research reports. StockNews.com raised shares of MAG Silver to a “sell” rating in a research report on Wednesday, March 27th. Scotiabank raised shares of MAG Silver from a “sector perform” rating to a “sector outperform” rating and lowered their price target for the company from $15.00 to $13.50 in a research report on Thursday, March 28th. Stifel Nicolaus lowered their price target on shares of MAG Silver from $20.00 to $19.00 and set a “buy” rating for the company in a research report on Wednesday, March 20th. Finally, HC Wainwright lowered their price target on shares of MAG Silver from $19.50 to $16.00 and set a “buy” rating for the company in a research report on Thursday, April 4th. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, MAG Silver has an average rating of “Moderate Buy” and a consensus price target of $18.00.

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.