Private Advisor Group LLC lowered its position in MAG Silver Corp. (NYSEAMERICAN:MAG – Free Report) by 3.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 31,280 shares of the company’s stock after selling 1,150 shares during the quarter. Private Advisor Group LLC’s holdings in MAG Silver were worth $425,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in MAG. Capital Performance Advisors LLP purchased a new stake in MAG Silver in the 3rd quarter worth about $28,000. Quantbot Technologies LP bought a new position in MAG Silver in the 3rd quarter worth about $52,000. DF Dent & Co. Inc. bought a new position in MAG Silver in the 3rd quarter worth about $140,000. Pekin Hardy Strauss Inc. bought a new position in MAG Silver in the 3rd quarter worth about $140,000. Finally, International Assets Investment Management LLC bought a new position in MAG Silver in the 3rd quarter worth about $148,000. Hedge funds and other institutional investors own 52.50% of the company’s stock.
Wall Street Analyst Weigh In
Separately, HC Wainwright restated a “buy” rating and issued a $21.00 target price on shares of MAG Silver in a research note on Tuesday, February 25th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, MAG Silver presently has an average rating of “Hold” and an average target price of $18.63.
MAG Silver Stock Down 1.8 %
Shares of MAG opened at $14.74 on Tuesday. The stock has a market cap of $1.52 billion, a PE ratio of 20.76 and a beta of 1.09. MAG Silver Corp. has a 12-month low of $8.72 and a 12-month high of $18.27.
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.
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