Cannell & Co. Cuts Stock Holdings in MAG Silver Corp. (NYSEAMERICAN:MAG)

Cannell & Co. trimmed its position in shares of MAG Silver Corp. (NYSEAMERICAN:MAG) by 27.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 258,769 shares of the company’s stock after selling 97,700 shares during the quarter. Cannell & Co. owned 0.25% of MAG Silver worth $2,694,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of the company. Crown Wealth Group LLC bought a new stake in shares of MAG Silver during the 4th quarter worth $118,000. Quadrature Capital Ltd bought a new stake in shares of MAG Silver during the 3rd quarter worth $127,000. Privium Fund Management B.V. raised its stake in shares of MAG Silver by 44.9% during the 3rd quarter. Privium Fund Management B.V. now owns 15,500 shares of the company’s stock worth $161,000 after purchasing an additional 4,800 shares during the period. Banque Cantonale Vaudoise raised its stake in shares of MAG Silver by 23.0% during the 3rd quarter. Banque Cantonale Vaudoise now owns 16,242 shares of the company’s stock worth $169,000 after purchasing an additional 3,037 shares during the period. Finally, Veracity Capital LLC raised its stake in shares of MAG Silver by 50.0% during the 4th quarter. Veracity Capital LLC now owns 16,654 shares of the company’s stock worth $173,000 after purchasing an additional 5,551 shares during the period. 52.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MAG has been the topic of a number of recent analyst reports. HC Wainwright lifted their target price on MAG Silver from $16.00 to $17.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Scotiabank upgraded MAG Silver from a “sector perform” rating to a “sector outperform” rating and lowered their price objective for the company from $15.00 to $13.50 in a research note on Thursday, March 28th. StockNews.com upgraded MAG Silver to a “sell” rating in a research note on Wednesday, March 27th. Finally, Stifel Nicolaus lowered their price objective on MAG Silver from $20.00 to $19.00 and set a “buy” rating on the stock in a research note on Wednesday, March 20th. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $18.25.

MAG Silver Stock Up 1.0 %

Shares of NYSEAMERICAN MAG opened at $12.40 on Thursday. MAG Silver Corp. has a 12 month low of $8.19 and a 12 month high of $13.62. The stock has a market cap of $1.28 billion, a PE ratio of 26.13 and a beta of 1.10.

MAG Silver (NYSEAMERICAN:MAG) last issued its earnings results on Tuesday, March 19th. The company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.01. Sell-side analysts anticipate that MAG Silver Corp. will post 0.55 EPS for the current year.

MAG Silver Company 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.