PCJ Investment Counsel Ltd. reduced its position in shares of MAG Silver Corp. (NYSEAMERICAN:MAG - Free Report) by 24.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 279,980 shares of the company's stock after selling 89,310 shares during the quarter. MAG Silver makes up about 1.3% of PCJ Investment Counsel Ltd.'s holdings, making the stock its 18th biggest holding. PCJ Investment Counsel Ltd. owned about 0.27% of MAG Silver worth $3,799,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new stake in MAG Silver during the 4th quarter valued at $3,482,000. Aigen Investment Management LP bought a new position in MAG Silver in the 4th quarter worth $156,000. Sprott Inc. raised its holdings in MAG Silver by 8.5% in the 4th quarter. Sprott Inc. now owns 2,649,507 shares of the company's stock worth $36,004,000 after purchasing an additional 208,252 shares in the last quarter. CIBC Asset Management Inc raised its holdings in MAG Silver by 0.7% in the 4th quarter. CIBC Asset Management Inc now owns 114,355 shares of the company's stock worth $1,550,000 after purchasing an additional 755 shares in the last quarter. Finally, Strategic Financial Concepts LLC bought a new position in MAG Silver in the 4th quarter worth $240,000. 52.50% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
MAG has been the subject of several research reports. HC Wainwright restated a "buy" rating and issued a $21.00 price objective on shares of MAG Silver in a report on Tuesday, February 25th. TD Securities upgraded shares of MAG Silver to a "strong-buy" rating in a report on Monday. Four investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $18.63.
Read Our Latest Research Report on MAG
MAG Silver Stock Up 3.4 %
Shares of NYSEAMERICAN:MAG traded up $0.52 during midday trading on Wednesday, reaching $15.74. The company's stock had a trading volume of 627,049 shares, compared to its average volume of 588,972. The business has a 50 day moving average of $15.12. The stock has a market capitalization of $1.63 billion, a price-to-earnings ratio of 22.17 and a beta of 1.09. MAG Silver Corp. has a 12-month low of $8.94 and a 12-month high of $18.27.
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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