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

Azarias Capital Management L.P. lessened its holdings in shares of MAG Silver Corp. (NYSEAMERICAN:MAG) by 17.1% in the fourth quarter, HoldingsChannel reports. The fund owned 629,005 shares of the company’s stock after selling 130,105 shares during the period. MAG Silver makes up about 3.8% of Azarias Capital Management L.P.’s portfolio, making the stock its 13th largest holding. Azarias Capital Management L.P.’s holdings in MAG Silver were worth $8,554,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Van ECK Associates Corp lifted its position in MAG Silver by 4.8% in the third quarter. Van ECK Associates Corp now owns 10,231,410 shares of the company’s stock worth $143,649,000 after purchasing an additional 467,817 shares during the period. Tidal Investments LLC raised its stake in shares of MAG Silver by 3.6% in the 3rd quarter. Tidal Investments LLC now owns 2,810,051 shares of the company’s stock worth $39,453,000 after buying an additional 98,312 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of MAG Silver by 69.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 456,335 shares of the company’s stock worth $6,407,000 after buying an additional 186,445 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of MAG Silver by 199.7% in the third quarter. The Manufacturers Life Insurance Company now owns 382,027 shares of the company’s stock valued at $5,374,000 after buying an additional 254,553 shares during the period. Finally, PCJ Investment Counsel Ltd. grew its position in MAG Silver by 38.1% in the third quarter. PCJ Investment Counsel Ltd. now owns 369,290 shares of the company’s stock worth $5,196,000 after buying an additional 101,870 shares during the last quarter. 52.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on MAG. StockNews.com upgraded MAG Silver from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Roth Mkm lowered shares of MAG Silver from a “buy” rating to a “neutral” rating and upped their price objective for the company from $17.00 to $17.50 in a research note on Thursday, October 24th. Roth Capital lowered shares of MAG Silver from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 24th. Finally, HC Wainwright upped their price target on shares of MAG Silver from $20.00 to $21.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $18.63.

MAG Silver Stock Performance

Shares of MAG opened at $16.91 on Thursday. The company has a market cap of $1.75 billion, a P/E ratio of 22.69 and a beta of 1.09. MAG Silver Corp. has a twelve month low of $8.19 and a twelve month high of $18.27.

MAG Silver (NYSEAMERICAN:MAG) last released its quarterly earnings results on Tuesday, November 12th. The company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.02. Analysts predict that MAG Silver Corp. will post 0.75 earnings per share for the current year.

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.