MAG Silver Corp. (NYSEAMERICAN:MAG) Shares Sold by Beirne Wealth Consulting Services LLC

Beirne Wealth Consulting Services LLC cut its holdings in shares of MAG Silver Corp. (NYSEAMERICAN:MAG) by 2.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 41,800 shares of the company’s stock after selling 1,000 shares during the period. Beirne Wealth Consulting Services LLC’s holdings in MAG Silver were worth $568,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Van ECK Associates Corp lifted its stake in MAG Silver by 4.8% during the third quarter. Van ECK Associates Corp now owns 10,231,410 shares of the company’s stock valued at $143,649,000 after purchasing an additional 467,817 shares during the last quarter. Tidal Investments LLC lifted its position 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 valued at $39,453,000 after acquiring an additional 98,312 shares in the last quarter. JPMorgan Chase & Co. lifted its position 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 valued at $6,407,000 after acquiring an additional 186,445 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of MAG Silver by 199.7% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 382,027 shares of the company’s stock valued at $5,374,000 after acquiring an additional 254,553 shares in the last quarter. Finally, PCJ Investment Counsel Ltd. lifted its position in shares of MAG Silver by 38.1% in the 3rd quarter. PCJ Investment Counsel Ltd. now owns 369,290 shares of the company’s stock valued at $5,196,000 after acquiring an additional 101,870 shares in the last quarter. 52.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on MAG shares. StockNews.com upgraded 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. HC Wainwright upped their price target 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. Finally, Roth Mkm downgraded shares of MAG Silver from a “buy” rating to a “neutral” rating and upped their price target for the company from $17.00 to $17.50 in a research report on Thursday, October 24th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $18.63.

MAG Silver Price Performance

MAG stock opened at $16.57 on Wednesday. MAG Silver Corp. has a 12-month low of $8.19 and a 12-month high of $18.27. The company has a market capitalization of $1.71 billion, a price-to-earnings ratio of 23.10 and a beta of 1.09.

MAG Silver 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.