MAG Silver Corp. (NYSEAMERICAN:MAG) Shares Sold by Azarias Capital Management L.P.

Azarias Capital Management L.P. cut its stake in shares of MAG Silver Corp. (NYSEAMERICAN:MAG) by 14.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,197,255 shares of the company’s stock after selling 207,881 shares during the quarter. MAG Silver comprises about 6.3% of Azarias Capital Management L.P.’s investment portfolio, making the stock its 4th largest position. Azarias Capital Management L.P. owned approximately 1.16% of MAG Silver worth $13,972,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in the stock. Banque Cantonale Vaudoise raised its holdings in MAG Silver by 8.6% during the first quarter. Banque Cantonale Vaudoise now owns 11,012 shares of the company’s stock worth $116,000 after purchasing an additional 876 shares during the last quarter. Private Advisor Group LLC raised its stake in shares of MAG Silver by 6.1% during the 4th quarter. Private Advisor Group LLC now owns 24,986 shares of the company’s stock worth $260,000 after buying an additional 1,447 shares during the last quarter. Perritt Capital Management Inc. purchased a new stake in shares of MAG Silver in the 1st quarter worth about $26,000. CIBC Asset Management Inc grew its stake in MAG Silver by 3.0% in the 4th quarter. CIBC Asset Management Inc now owns 90,881 shares of the company’s stock valued at $949,000 after acquiring an additional 2,652 shares during the last quarter. Finally, Gamco Investors INC. ET AL increased its holdings in MAG Silver by 15.0% during the 1st quarter. Gamco Investors INC. ET AL now owns 44,970 shares of the company’s stock valued at $476,000 after acquiring an additional 5,850 shares in the last quarter. Hedge funds and other institutional investors own 52.50% of the company’s stock.

MAG Silver Stock Performance

MAG traded up $0.10 on Monday, reaching $13.61. 321,110 shares of the company’s stock were exchanged, compared to its average volume of 740,323. MAG Silver Corp. has a twelve month low of $8.19 and a twelve month high of $14.30. The company has a market cap of $1.40 billion, a PE ratio of 24.25 and a beta of 1.12.

MAG Silver (NYSEAMERICAN:MAG) last announced its quarterly earnings results on Friday, August 2nd. The company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.02. On average, sell-side analysts predict that MAG Silver Corp. will post 0.65 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. HC Wainwright increased their target price on MAG Silver from $17.00 to $18.00 and gave the company a “buy” rating in a report on Monday, August 5th. Scotiabank lifted their price objective on MAG Silver from $14.50 to $15.50 and gave the stock a “sector outperform” rating in a research report on Monday, August 19th. Stifel Nicolaus boosted their target price on shares of MAG Silver from $20.25 to $20.50 and gave the company a “buy” rating in a research note on Wednesday, May 15th. Finally, Ventum Cap Mkts cut shares of MAG Silver from a “buy” rating to a “neutral” rating in a research note on Friday, May 3rd. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $19.38.

MAG Silver Company 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.