HTLF Bank Invests $291,000 in MAG Silver Corp. (NYSEAMERICAN:MAG)

HTLF Bank bought a new position in MAG Silver Corp. (NYSEAMERICAN:MAG) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 28,000 shares of the company’s stock, valued at approximately $291,000.

Several other institutional investors and hedge funds have also modified their holdings of MAG. Legal & General Group Plc raised its position in MAG Silver by 7.0% in the 4th quarter. Legal & General Group Plc now owns 15,038 shares of the company’s stock worth $235,000 after purchasing an additional 982 shares during the last quarter. CIBC Asset Management Inc raised its position in MAG Silver by 1.4% in the 1st quarter. CIBC Asset Management Inc now owns 80,066 shares of the company’s stock worth $1,011,000 after purchasing an additional 1,138 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in MAG Silver by 1.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 127,638 shares of the company’s stock worth $1,421,000 after purchasing an additional 1,240 shares during the last quarter. Geneos Wealth Management Inc. raised its position in MAG Silver by 89.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 3,385 shares of the company’s stock worth $54,000 after purchasing an additional 1,600 shares during the last quarter. Finally, Natixis bought a new position in MAG Silver in the 4th quarter worth approximately $34,000. 52.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

MAG Silver Trading Up 2.0 %

MAG Silver stock opened at $12.40 on Friday. The stock 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 twelve month low of $8.19 and a twelve month high of $13.62.

MAG Silver (NYSEAMERICAN:MAG) last released its quarterly earnings results on Tuesday, March 19th. The company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.01. As a group, equities analysts forecast that MAG Silver Corp. will post 0.47 earnings per share for the current fiscal year.

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.