MAG Silver Corp (MAG) Stake Decreased by JPMorgan Chase & Co.
JPMorgan Chase & Co. lessened its holdings in shares of MAG Silver Corp (NYSEAMERICAN:MAG) by 1.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 844,107 shares of the company’s stock after selling 13,807 shares during the period. JPMorgan Chase & Co.’s holdings in MAG Silver were worth $6,846,000 at the end of the most recent quarter.
Several other large investors have also added to or reduced their stakes in MAG. Millennium Management LLC bought a new position in shares of MAG Silver during the 2nd quarter valued at about $1,425,000. Global X Management Co LLC lifted its stake in MAG Silver by 12.0% in the 2nd quarter. Global X Management Co LLC now owns 1,139,617 shares of the company’s stock valued at $12,302,000 after acquiring an additional 122,338 shares in the last quarter. Tocqueville Asset Management L.P. lifted its stake in MAG Silver by 1.2% in the 2nd quarter. Tocqueville Asset Management L.P. now owns 7,196,925 shares of the company’s stock valued at $77,787,000 after acquiring an additional 87,000 shares in the last quarter. Jane Street Group LLC lifted its stake in MAG Silver by 37.1% in the 2nd quarter. Jane Street Group LLC now owns 156,942 shares of the company’s stock valued at $1,697,000 after acquiring an additional 42,475 shares in the last quarter. Finally, Oppenheimer & Co. Inc. lifted its stake in MAG Silver by 15.0% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 295,383 shares of the company’s stock valued at $2,395,000 after acquiring an additional 38,450 shares in the last quarter.
Several research firms have commented on MAG. HC Wainwright set a $19.00 target price on MAG Silver and gave the company a “buy” rating in a research note on Monday, October 22nd. Zacks Investment Research upgraded MAG Silver from a “hold” rating to a “strong-buy” rating and set a $8.25 target price on the stock in a research note on Saturday, November 17th.
MAG Silver (NYSEAMERICAN:MAG) last released its earnings results on Tuesday, November 13th. The company reported $0.01 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.02) by $0.03.
MAG Silver Profile
MAG Silver Corp. focuses on acquiring, exploring, and development of mineral properties in Canada. It explores for copper, gold, silver, lead, and zinc deposits. The company primarily holds interests in the Juanicipio property covering 7,679 hectares located in the Fresnillo District, Zacatecas State, Mexico.
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