MAG Silver Corp (MAG) Position Lowered by Sigma Planning Corp

Sigma Planning Corp lessened its position in shares of MAG Silver Corp (NYSEAMERICAN:MAG) by 30.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,830 shares of the company’s stock after selling 4,747 shares during the period. Sigma Planning Corp’s holdings in MAG Silver Corp were worth $122,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Commonwealth Bank of Australia increased its holdings in MAG Silver Corp by 66.3% during the 2nd quarter. Commonwealth Bank of Australia now owns 1,963,800 shares of the company’s stock worth $25,599,000 after purchasing an additional 783,000 shares in the last quarter. Royal Bank of Canada increased its holdings in MAG Silver Corp by 7.8% during the 2nd quarter. Royal Bank of Canada now owns 1,078,841 shares of the company’s stock worth $14,068,000 after purchasing an additional 77,927 shares in the last quarter. Addenda Capital Inc. increased its holdings in MAG Silver Corp by 4.4% during the 2nd quarter. Addenda Capital Inc. now owns 1,051,260 shares of the company’s stock worth $13,704,000 after purchasing an additional 44,355 shares in the last quarter. Franklin Resources Inc. increased its holdings in MAG Silver Corp by 1.6% during the 2nd quarter. Franklin Resources Inc. now owns 1,048,000 shares of the company’s stock worth $13,689,000 after purchasing an additional 16,000 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in MAG Silver Corp by 17.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 925,506 shares of the company’s stock worth $12,069,000 after purchasing an additional 139,540 shares in the last quarter.

A number of equities analysts have recently commented on the stock. BMO Capital Markets assumed coverage on shares of MAG Silver Corp in a research note on Friday. They set a “buy” rating for the company. HC Wainwright set a $19.00 price objective on shares of MAG Silver Corp and gave the stock a “buy” rating in a research note on Thursday. Roth Capital set a $22.00 price objective on shares of MAG Silver Corp and gave the stock a “buy” rating in a research note on Monday, August 21st. Zacks Investment Research upgraded shares of MAG Silver Corp from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a research note on Friday, October 27th. Finally, BidaskClub downgraded shares of MAG Silver Corp from a “sell” rating to a “strong sell” rating in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating, five have assigned a buy rating and three have issued a strong buy rating to the company’s stock. MAG Silver Corp currently has a consensus rating of “Buy” and a consensus price target of $16.60.

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MAG Silver Corp (MAG) opened at $11.05 on Friday. MAG Silver Corp has a one year low of $9.50 and a one year high of $16.78.

MAG Silver Corp Profile

MAG Silver Corp. is a mineral exploration and development company. The Company is focused on the acquisition, exploration and development of projects located within the Mexican silver belt. The Company operates through the exploration of mineral properties in Mexico segment. The Company’s projects include Juanicipio Property, Cinco De Mayo Property and Guigui Property.

Institutional Ownership by Quarter for MAG Silver Corp (NYSEAMERICAN:MAG)

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