Strategic Financial Concepts LLC acquired a new position in shares of MAG Silver Corp. (NYSEAMERICAN:MAG - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 17,680 shares of the company's stock, valued at approximately $240,000.
Other large investors have also modified their holdings of the company. Capital Performance Advisors LLP acquired a new position in shares of MAG Silver during the 3rd quarter worth approximately $28,000. Veracity Capital LLC boosted its holdings in shares of MAG Silver by 16.8% during the 3rd quarter. Veracity Capital LLC now owns 16,653 shares of the company's stock worth $234,000 after purchasing an additional 2,396 shares during the last quarter. Quantbot Technologies LP acquired a new position in shares of MAG Silver during the 3rd quarter worth approximately $52,000. DF Dent & Co. Inc. acquired a new position in shares of MAG Silver during the 3rd quarter worth approximately $140,000. Finally, Pekin Hardy Strauss Inc. acquired a new position in shares of MAG Silver during the 3rd quarter worth approximately $140,000. Hedge funds and other institutional investors own 52.50% of the company's stock.
MAG Silver Stock Down 4.1 %
NYSEAMERICAN:MAG traded down $0.70 during trading hours on Friday, reaching $16.40. 937,878 shares of the stock were exchanged, compared to its average volume of 529,993. 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 $1.70 billion, a price-to-earnings ratio of 23.10 and a beta of 1.09.
Analyst Ratings Changes
Several research analysts have recently weighed in on the company. Roth Mkm cut MAG Silver from a "buy" rating to a "neutral" rating and boosted their target price for the stock from $17.00 to $17.50 in a report on Thursday, October 24th. Roth Capital cut MAG Silver from a "strong-buy" rating to a "hold" rating in a report on Thursday, October 24th. StockNews.com upgraded MAG Silver from a "sell" rating to a "hold" rating in a report on Thursday, October 24th. Finally, HC Wainwright upped their price objective on MAG Silver from $20.00 to $21.00 and gave the company a "buy" rating in a report on Thursday, January 30th. Four investment 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.com, the company presently has an average rating of "Hold" and an average price target of $18.63.
Get Our Latest Analysis on MAG Silver
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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