MAG Silver Corp. (NYSEAMERICAN:MAG) Shares Sold by DORCHESTER WEALTH MANAGEMENT Co

DORCHESTER WEALTH MANAGEMENT Co lowered its stake in shares of MAG Silver Corp. (NYSEAMERICAN:MAG) by 25.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,225 shares of the company’s stock after selling 8,300 shares during the quarter. DORCHESTER WEALTH MANAGEMENT Co’s holdings in MAG Silver were worth $329,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. CIBC Asset Management Inc increased its holdings in shares of MAG Silver by 0.7% during the fourth quarter. CIBC Asset Management Inc now owns 114,355 shares of the company’s stock valued at $1,550,000 after acquiring an additional 755 shares in the last quarter. Strategic Financial Concepts LLC acquired a new position in MAG Silver in the 4th quarter worth approximately $240,000. Allspring Global Investments Holdings LLC increased its holdings in MAG Silver by 56.6% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 278,000 shares of the company’s stock worth $3,781,000 after buying an additional 100,500 shares during the period. JPMorgan Chase & Co. increased its holdings 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 buying an additional 186,445 shares during the period. Finally, Tidal Investments LLC increased its holdings in MAG Silver by 3.6% in the 3rd quarter. Tidal Investments LLC now owns 2,810,051 shares of the company’s stock worth $39,453,000 after buying an additional 98,312 shares during the period. Institutional investors and hedge funds own 52.50% of the company’s stock.

Analyst Ratings Changes

Separately, HC Wainwright increased their price target on shares of MAG Silver from $20.00 to $21.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $18.63.

MAG Silver Stock Performance

Shares of NYSEAMERICAN:MAG opened at $15.76 on Friday. MAG Silver Corp. has a 1 year low of $8.19 and a 1 year high of $18.27. The company has a market cap of $1.63 billion, a PE ratio of 22.20 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.