Hara Capital LLC Sells 9,500 Shares of MAG Silver Corp. (NYSEAMERICAN:MAG)

Hara Capital LLC trimmed its position in MAG Silver Corp. (NYSEAMERICAN:MAG) by 75.0% during the 4th quarter, Holdings Channel reports. The institutional investor owned 3,159 shares of the company’s stock after selling 9,500 shares during the period. Hara Capital LLC’s holdings in MAG Silver were worth $43,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. CIBC Asset Management Inc increased its stake in shares of MAG Silver by 0.7% in the fourth quarter. CIBC Asset Management Inc now owns 114,355 shares of the company’s stock worth $1,550,000 after buying an additional 755 shares during the period. Strategic Financial Concepts LLC purchased a new position in shares of MAG Silver in the fourth quarter worth $240,000. Allspring Global Investments Holdings LLC increased its stake in shares of MAG Silver by 56.6% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 278,000 shares of the company’s stock worth $3,781,000 after buying an additional 100,500 shares during the period. JPMorgan Chase & Co. increased its stake in shares of MAG Silver by 69.1% in the third 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 during the period. Finally, Tidal Investments LLC increased its stake in shares of MAG Silver by 3.6% in the third 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 during the period. 52.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

MAG Silver Trading Down 4.1 %

Shares of MAG Silver stock opened at $16.40 on Tuesday. The firm has a market cap of $1.70 billion, a price-to-earnings ratio of 22.69 and a beta of 1.09. MAG Silver Corp. has a 12-month low of $8.19 and a 12-month high of $18.27.

About MAG Silver

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.