Allspring Global Investments Holdings LLC Sells 673,600 Shares of MAG Silver Corp. (NYSEAMERICAN:MAG)

Allspring Global Investments Holdings LLC trimmed its stake in shares of MAG Silver Corp. (NYSEAMERICAN:MAG - Free Report) by 79.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 177,500 shares of the company's stock after selling 673,600 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.17% of MAG Silver worth $2,500,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Perritt Capital Management Inc. purchased a new position in MAG Silver during the first quarter worth about $26,000. Addenda Capital Inc. purchased a new stake in MAG Silver during the 2nd quarter valued at about $123,000. Susquehanna Fundamental Investments LLC bought a new position in MAG Silver during the 2nd quarter valued at approximately $161,000. Veracity Capital LLC raised its position in MAG Silver by 16.8% during the 3rd quarter. Veracity Capital LLC now owns 16,653 shares of the company's stock valued at $234,000 after purchasing an additional 2,396 shares during the last quarter. Finally, Cubist Systematic Strategies LLC raised its position in MAG Silver by 304.8% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 25,569 shares of the company's stock valued at $299,000 after purchasing an additional 19,253 shares during the last quarter. 52.50% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on MAG shares. StockNews.com raised MAG Silver from a "sell" rating to a "hold" rating in a research report on Thursday, October 24th. HC Wainwright upped their price target on MAG Silver from $17.00 to $18.00 and gave the stock a "buy" rating in a research note on Monday, August 5th. Scotiabank upped their price target on MAG Silver from $14.50 to $15.50 and gave the stock a "sector outperform" rating in a research note on Monday, August 19th. Roth Mkm downgraded 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 research note on Thursday, October 24th. Finally, Roth Capital downgraded MAG Silver from a "strong-buy" rating to a "hold" rating in a research note on Thursday, October 24th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, MAG Silver has an average rating of "Hold" and a consensus target price of $17.88.

MAG Silver Trading Down 1.4 %

MAG traded down $0.26 during trading on Wednesday, hitting $17.73. 800,122 shares of the company's stock traded hands, compared to its average volume of 726,163. MAG Silver Corp. has a 12-month low of $8.19 and a 12-month high of $18.27. The company has a market cap of $1.83 billion, a price-to-earnings ratio of 31.01 and a beta of 1.15.

MAG Silver (NYSEAMERICAN:MAG - Get Free Report) last released its quarterly earnings results on Friday, August 2nd. The company reported $0.21 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.19 by $0.02. As a group, research analysts forecast that MAG Silver Corp. will post 0.69 EPS for the current year.

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.