MAG Silver Corp. (NYSEAMERICAN:MAG) Position Reduced by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. decreased its stake in MAG Silver Corp. (NYSEAMERICAN:MAG - Free Report) by 3.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,447,661 shares of the company's stock after selling 94,884 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned approximately 2.38% of MAG Silver worth $25,598,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of MAG. Advisor Group Holdings Inc. raised its holdings in MAG Silver by 73.4% in the 1st quarter. Advisor Group Holdings Inc. now owns 24,835 shares of the company's stock worth $394,000 after purchasing an additional 10,513 shares during the period. Cetera Advisor Networks LLC acquired a new position in MAG Silver in the 1st quarter worth about $219,000. BlackRock Inc. raised its holdings in MAG Silver by 1.0% in the 1st quarter. BlackRock Inc. now owns 670,578 shares of the company's stock worth $10,843,000 after purchasing an additional 6,578 shares during the period. Dimensional Fund Advisors LP raised its holdings in MAG Silver by 115.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 307,218 shares of the company's stock worth $4,968,000 after purchasing an additional 164,859 shares during the period. Finally, Vanguard Group Inc. raised its holdings in MAG Silver by 7.9% in the 1st quarter. Vanguard Group Inc. now owns 54,836 shares of the company's stock worth $886,000 after purchasing an additional 4,024 shares during the period. Hedge funds and other institutional investors own 52.50% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on MAG. HC Wainwright reduced their price target on MAG Silver from $19.50 to $16.00 and set a "buy" rating for the company in a report on Thursday, April 4th. Stifel Nicolaus reduced their price target on MAG Silver from $20.00 to $19.00 and set a "buy" rating for the company in a report on Wednesday, March 20th. StockNews.com raised MAG Silver to a "sell" rating in a report on Wednesday, March 27th. Finally, Scotiabank raised MAG Silver from a "sector perform" rating to a "sector outperform" rating and reduced their target price for the company from $15.00 to $13.50 in a report on Thursday, March 28th. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $18.00.

MAG Silver Stock Performance

MAG Silver stock traded up $0.41 during mid-day trading on Tuesday, hitting $12.62. The company's stock had a trading volume of 1,590,146 shares, compared to its average volume of 820,260. The firm has a market capitalization of $1.30 billion, a price-to-earnings ratio of 26.68 and a beta of 1.15. MAG Silver Corp. has a 1 year low of $8.19 and a 1 year high of $14.42.

MAG Silver (NYSEAMERICAN:MAG - Get Free Report) last issued its quarterly earnings data on Tuesday, March 19th. The company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.01. Analysts forecast that MAG Silver Corp. will post 0.47 EPS for the current year.

MAG Silver Company Profile

MAG Silver Corp. engages in the exploration and development of precious metal mining properties. The company explores for silver, gold, lead, copper, and zinc deposits. It primarily holds 44% interest in the Juanicipio project located in the Fresnillo District, Zacatecas State, Mexico. MAG Silver Corp.