Knoll Capital Management LLC Cuts Position in MAG Silver Corp. (NYSEAMERICAN:MAG)

Knoll Capital Management LLC decreased its position in MAG Silver Corp. (NYSEAMERICAN:MAG) by 38.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 170,000 shares of the company’s stock after selling 105,000 shares during the quarter. MAG Silver accounts for approximately 1.2% of Knoll Capital Management LLC’s portfolio, making the stock its 17th largest position. Knoll Capital Management LLC’s holdings in MAG Silver were worth $2,387,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP acquired a new position in shares of MAG Silver in the third quarter worth $28,000. Veracity Capital LLC grew its stake in shares of MAG Silver by 16.8% during the third quarter. Veracity Capital LLC now owns 16,653 shares of the company’s stock worth $234,000 after purchasing an additional 2,396 shares in the last quarter. Quantbot Technologies LP acquired a new position in MAG Silver in the third quarter valued at $52,000. CIBC Asset Management Inc boosted its stake in MAG Silver by 8.7% in the second quarter. CIBC Asset Management Inc now owns 115,179 shares of the company’s stock valued at $1,345,000 after acquiring an additional 9,173 shares in the last quarter. Finally, Pekin Hardy Strauss Inc. acquired a new position in MAG Silver in the third quarter valued at $140,000. Hedge funds and other institutional investors own 52.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on MAG shares. HC Wainwright upped their price objective on shares of MAG Silver from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Scotiabank upped their price objective on shares of MAG Silver from $14.50 to $15.50 and gave the company a “sector outperform” rating in a research note on Monday, August 19th. Roth Mkm downgraded shares of MAG Silver from a “buy” rating to a “neutral” rating and upped their price objective for the company from $17.00 to $17.50 in a research note on Thursday, October 24th. StockNews.com upgraded shares of MAG Silver from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Finally, Roth Capital downgraded shares of MAG Silver from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 24th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, MAG Silver presently has a consensus rating of “Hold” and a consensus price target of $18.38.

MAG Silver Price Performance

Shares of NYSEAMERICAN:MAG opened at $15.35 on Friday. MAG Silver Corp. has a one year low of $8.19 and a one year high of $18.27. The stock has a market capitalization of $1.59 billion, a PE ratio of 21.62 and a beta of 1.12.

MAG Silver (NYSEAMERICAN:MAG) last posted its quarterly earnings results on Tuesday, November 12th. The company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.02. As a group, sell-side analysts predict that MAG Silver Corp. will post 0.73 EPS for the current year.

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.