Allspring Global Investments Holdings LLC boosted its position in shares of MAG Silver Corp. (NYSEAMERICAN:MAG - Free Report) by 56.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 278,000 shares of the company's stock after acquiring an additional 100,500 shares during the period. Allspring Global Investments Holdings LLC owned about 0.27% of MAG Silver worth $3,781,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP purchased a new stake in shares of MAG Silver during the 3rd quarter worth approximately $28,000. Quantbot Technologies LP purchased a new stake in shares of MAG Silver during the 3rd quarter worth approximately $52,000. DF Dent & Co. Inc. purchased a new stake in shares of MAG Silver during the 3rd quarter worth approximately $140,000. Pekin Hardy Strauss Inc. purchased a new stake in shares of MAG Silver during the 3rd quarter worth approximately $140,000. Finally, International Assets Investment Management LLC purchased a new stake in shares of MAG Silver during the 3rd quarter worth approximately $148,000. Institutional investors and hedge funds own 52.50% of the company's stock.
Wall Street Analysts Forecast Growth
MAG has been the subject of several research reports. Roth Capital downgraded shares of MAG Silver from a "strong-buy" rating to a "hold" rating in a research report on Thursday, October 24th. StockNews.com upgraded shares of MAG Silver from a "sell" rating to a "hold" rating in a research report on Thursday, October 24th. HC Wainwright upped their price objective on shares of MAG Silver from $20.00 to $21.00 and gave the stock a "buy" rating in a research report on Thursday, January 30th. Finally, Roth Mkm downgraded shares of MAG Silver from a "buy" rating to a "neutral" rating and upped their price objective for the stock from $17.00 to $17.50 in a research report on Thursday, October 24th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $18.63.
View Our Latest Stock Analysis on MAG
MAG Silver Price Performance
Shares of MAG Silver stock traded down $1.13 during mid-day trading on Friday, hitting $15.76. 1,277,522 shares of the stock were exchanged, compared to its average volume of 586,860. MAG Silver Corp. has a twelve month low of $8.19 and a twelve month high of $18.27. The stock has a market capitalization of $1.63 billion, a P/E ratio of 22.20 and a beta of 1.09.
About MAG Silver
(
Free Report)
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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