DORCHESTER WEALTH MANAGEMENT Co Decreases Stake in MAG Silver Corp. (NYSEAMERICAN:MAG)

DORCHESTER WEALTH MANAGEMENT Co lowered its position in MAG Silver Corp. (NYSEAMERICAN:MAG) by 25.5% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 24,225 shares of the company’s stock after selling 8,300 shares during the period. DORCHESTER WEALTH MANAGEMENT Co’s holdings in MAG Silver were worth $329,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Barclays PLC increased its stake in shares of MAG Silver by 211.5% in the 3rd quarter. Barclays PLC now owns 30,780 shares of the company’s stock worth $432,000 after acquiring an additional 20,899 shares during the last quarter. Van ECK Associates Corp increased its stake in shares of MAG Silver by 4.8% in the 3rd quarter. Van ECK Associates Corp now owns 10,231,410 shares of the company’s stock worth $143,649,000 after acquiring an additional 467,817 shares during the last quarter. Strategic Financial Concepts LLC acquired a new stake in shares of MAG Silver in the 4th quarter worth $240,000. JPMorgan Chase & Co. increased 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 acquiring an additional 186,445 shares during the last quarter. Finally, PCJ Investment Counsel Ltd. increased its stake 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 worth $5,196,000 after acquiring an additional 101,870 shares during the last quarter. Hedge funds and other institutional investors own 52.50% of the company’s stock.

MAG Silver Price Performance

Shares of NYSEAMERICAN:MAG opened at $15.76 on Friday. The stock has a market cap of $1.63 billion, a P/E ratio of 22.20 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.

Wall Street Analyst Weigh In

Separately, HC Wainwright raised their target price on MAG Silver from $20.00 to $21.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, MAG Silver currently has an average rating of “Hold” and a consensus target price of $18.63.

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.