10,000 Shares in MAG Silver Corp. (NYSEAMERICAN:MAG) Purchased by Pekin Hardy Strauss Inc.

Pekin Hardy Strauss Inc. purchased a new stake in MAG Silver Corp. (NYSEAMERICAN:MAG) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 10,000 shares of the company’s stock, valued at approximately $140,000.

Several other hedge funds have also bought and sold shares of MAG. Capital Performance Advisors LLP acquired a new stake in shares of MAG Silver during the 3rd quarter valued at about $28,000. Addenda Capital Inc. acquired a new stake in MAG Silver in the second quarter valued at approximately $123,000. International Assets Investment Management LLC purchased a new stake in shares of MAG Silver in the third quarter valued at approximately $148,000. Susquehanna Fundamental Investments LLC purchased a new stake in shares of MAG Silver in the second quarter valued at approximately $161,000. Finally, Veracity Capital LLC raised its stake in shares of MAG Silver by 16.8% during the 3rd quarter. Veracity Capital LLC now owns 16,653 shares of the company’s stock worth $234,000 after buying an additional 2,396 shares during the period. Hedge funds and other institutional investors own 52.50% of the company’s stock.

MAG Silver Price Performance

Shares of NYSEAMERICAN MAG opened at $15.13 on Tuesday. The stock has a market cap of $1.56 billion, a P/E ratio of 21.31 and a beta of 1.12. MAG Silver Corp. has a 12-month low of $8.19 and a 12-month high of $18.27.

MAG Silver (NYSEAMERICAN:MAG) last posted its quarterly earnings results on Tuesday, November 12th. The company reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.02. As a group, equities analysts forecast that MAG Silver Corp. will post 0.71 earnings per share for the current year.

Analysts Set New Price Targets

MAG has been the subject of several recent analyst reports. Roth Capital lowered shares of MAG Silver from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 24th. Roth Mkm cut shares of MAG Silver from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $17.00 to $17.50 in a research note on Thursday, October 24th. StockNews.com raised shares of MAG Silver from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. HC Wainwright boosted their price objective on MAG Silver from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Finally, Scotiabank raised 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. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average 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.