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

Beirne Wealth Consulting Services LLC reduced its stake in shares of MAG Silver Corp. (NYSEAMERICAN:MAG) by 2.3% in the 4th quarter, according to its most recent 13F filing 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 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Barclays PLC grew its stake in 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 period. Van ECK Associates Corp grew its stake in 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 period. JPMorgan Chase & Co. grew its stake in 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 period. Strategic Financial Concepts LLC purchased a new stake in MAG Silver in the 4th quarter worth approximately $240,000. Finally, PCJ Investment Counsel Ltd. grew its stake in 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 period. 52.50% of the stock is currently owned by institutional investors and hedge funds.

MAG Silver Stock Up 1.0 %

Shares of NYSEAMERICAN:MAG opened at $16.57 on Wednesday. MAG Silver Corp. has a fifty-two week low of $8.19 and a fifty-two week high of $18.27. The stock has a market cap of $1.71 billion, a P/E ratio of 23.10 and a beta of 1.09.

Wall Street Analyst Weigh In

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

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.