Azarias Capital Management L.P. Cuts Holdings in MAG Silver Corp. (NYSEAMERICAN:MAG)

Azarias Capital Management L.P. reduced its position in shares of MAG Silver Corp. (NYSEAMERICAN:MAG - Free Report) by 17.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 629,005 shares of the company's stock after selling 130,105 shares during the period. MAG Silver accounts for about 3.8% of Azarias Capital Management L.P.'s portfolio, making the stock its 13th largest holding. Azarias Capital Management L.P. owned 0.61% of MAG Silver worth $8,554,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Van ECK Associates Corp boosted its holdings in shares of MAG Silver by 4.8% during the 3rd quarter. Van ECK Associates Corp now owns 10,231,410 shares of the company's stock worth $143,649,000 after purchasing an additional 467,817 shares during the last quarter. Tidal Investments LLC boosted its stake in MAG Silver by 3.6% during the third quarter. Tidal Investments LLC now owns 2,810,051 shares of the company's stock worth $39,453,000 after buying an additional 98,312 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in MAG Silver by 69.1% during the third quarter. JPMorgan Chase & Co. now owns 456,335 shares of the company's stock worth $6,407,000 after buying an additional 186,445 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in MAG Silver by 199.7% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 382,027 shares of the company's stock valued at $5,374,000 after buying an additional 254,553 shares in the last quarter. Finally, PCJ Investment Counsel Ltd. raised its holdings in shares of MAG Silver by 38.1% during the 3rd quarter. PCJ Investment Counsel Ltd. now owns 369,290 shares of the company's stock worth $5,196,000 after acquiring an additional 101,870 shares during the period. Institutional investors and hedge funds own 52.50% of the company's stock.

MAG Silver Price Performance

NYSEAMERICAN MAG traded down $0.70 during trading on Monday, hitting $16.40. The stock had a trading volume of 937,878 shares, compared to its average volume of 529,993. The company has a market cap of $1.70 billion, a P/E ratio of 23.10 and a beta of 1.09. MAG Silver Corp. has a twelve month low of $8.19 and a twelve month high of $18.27.

Analyst Ratings Changes

Several research firms recently issued reports on MAG. StockNews.com upgraded shares of MAG Silver from a "sell" rating to a "hold" rating in a research report on Thursday, October 24th. Roth Capital cut shares of MAG Silver from a "strong-buy" rating to a "hold" rating in a research note on Thursday, October 24th. Roth Mkm lowered shares of MAG Silver from a "buy" rating to a "neutral" rating and lifted their price target for the company from $17.00 to $17.50 in a research report on Thursday, October 24th. Finally, HC Wainwright increased their price objective on MAG Silver from $20.00 to $21.00 and gave the stock a "buy" rating in a research report on Thursday, January 30th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $18.63.

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.