PCJ Investment Counsel Ltd. Has $1.30 Million Position in MAG Silver Corp (NYSEAMERICAN:MAG)
PCJ Investment Counsel Ltd. grew its position in MAG Silver Corp (NYSEAMERICAN:MAG) by 51.9% during the 1st quarter, Holdings Channel reports. The firm owned 167,940 shares of the company’s stock after purchasing an additional 57,350 shares during the quarter. PCJ Investment Counsel Ltd.’s holdings in MAG Silver were worth $1,297,000 at the end of the most recent reporting period.
Other large investors have also recently modified their holdings of the company. Citigroup Inc. boosted its stake in shares of MAG Silver by 45.4% in the 1st quarter. Citigroup Inc. now owns 4,556 shares of the company’s stock valued at $34,000 after purchasing an additional 1,422 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of MAG Silver by 52.0% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,429 shares of the company’s stock valued at $49,000 after purchasing an additional 2,200 shares in the last quarter. Advisor Group Inc. boosted its stake in shares of MAG Silver by 20.8% in the 4th quarter. Advisor Group Inc. now owns 5,625 shares of the company’s stock valued at $66,000 after purchasing an additional 970 shares in the last quarter. Intl Fcstone Inc. acquired a new stake in shares of MAG Silver in the 1st quarter valued at $91,000. Finally, Capital Wealth Planning LLC acquired a new stake in shares of MAG Silver in the 1st quarter valued at $104,000.
MAG has been the subject of a number of research analyst reports. BidaskClub raised MAG Silver from a “sell” rating to a “hold” rating in a report on Wednesday, April 15th. HC Wainwright reaffirmed a “buy” rating and issued a $16.50 price target on shares of MAG Silver in a report on Monday, May 18th. BMO Capital Markets lifted their price target on MAG Silver from $17.00 to $18.00 and gave the company an “outperform” rating in a report on Tuesday, May 5th. Zacks Investment Research cut MAG Silver from a “hold” rating to a “sell” rating in a report on Tuesday, May 19th. Finally, Canaccord Genuity reaffirmed a “buy” rating and issued a $21.25 price target on shares of MAG Silver in a report on Wednesday, April 15th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $16.69.
MAG Silver (NYSEAMERICAN:MAG) last announced its quarterly earnings data on Monday, March 30th. The company reported ($0.01) earnings per share for the quarter.
MAG Silver Profile
MAG Silver Corp. focuses on acquiring, exploring, and development of mineral properties in Mexico. It explores for silver, gold, lead, and zinc deposits. The company primarily holds interest in the Juanicipio property covering an area of approximately 7,679 hectares located in the Fresnillo District, Zacatecas State, Mexico.
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