MAG Silver Corp. (NYSEAMERICAN:MAG) Stake Boosted by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC boosted its stake in MAG Silver Corp. (NYSEAMERICAN:MAG) by 56.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 278,000 shares of the company’s stock after buying an additional 100,500 shares during the period. Allspring Global Investments Holdings LLC owned 0.27% of MAG Silver worth $3,781,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Strategic Financial Concepts LLC bought a new stake in MAG Silver in the fourth quarter worth about $240,000. JPMorgan Chase & Co. grew its stake in MAG Silver by 69.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 456,335 shares of the company’s stock valued at $6,407,000 after acquiring an additional 186,445 shares in the last quarter. Tidal Investments LLC grew its stake in MAG Silver by 3.6% during the 3rd quarter. Tidal Investments LLC now owns 2,810,051 shares of the company’s stock valued at $39,453,000 after acquiring an additional 98,312 shares in the last quarter. Barclays PLC grew its stake in MAG Silver by 211.5% during the 3rd quarter. Barclays PLC now owns 30,780 shares of the company’s stock valued at $432,000 after acquiring an additional 20,899 shares in the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new position in MAG Silver during the 3rd quarter valued at about $390,000. 52.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on MAG. HC Wainwright lifted their target price on MAG Silver from $20.00 to $21.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Roth Mkm lowered MAG Silver from a “buy” rating to a “neutral” rating and upped their price target for the stock from $17.00 to $17.50 in a report on Thursday, October 24th. StockNews.com upgraded MAG Silver from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Finally, Roth Capital cut MAG Silver from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 24th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $18.63.

MAG Silver Trading Up 3.2 %

NYSEAMERICAN:MAG opened at $16.89 on Friday. MAG Silver Corp. has a 1-year low of $8.19 and a 1-year high of $18.27. The stock has a market capitalization of $1.75 billion, a price-to-earnings ratio of 23.79 and a beta of 1.09.

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.