MAG Silver Corporation (NYSEAMERICAN:MAG) Shares Sold by National Bank of Canada FI

National Bank of Canada FI lowered its position in shares of MAG Silver Corporation (NYSEAMERICAN:MAG) by 2.1% during the first quarter, Holdings Channel reports. The fund owned 213,814 shares of the company’s stock after selling 4,516 shares during the quarter. National Bank of Canada FI’s holdings in MAG Silver were worth $3,264,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Banque Cantonale Vaudoise purchased a new stake in MAG Silver in the first quarter valued at approximately $37,000. D. E. Shaw & Co. Inc. purchased a new stake in MAG Silver in the fourth quarter valued at approximately $156,000. D.A. Davidson & CO. purchased a new stake in MAG Silver in the first quarter valued at approximately $167,000. Susquehanna Fundamental Investments LLC purchased a new stake in MAG Silver in the fourth quarter valued at approximately $188,000. Finally, Tradition Wealth Management LLC purchased a new stake in MAG Silver in the fourth quarter valued at approximately $222,000. Institutional investors and hedge funds own 52.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on MAG. Canaccord Genuity Group downgraded shares of MAG Silver from a “strong-buy” rating to a “hold” rating in a report on Monday, May 12th. HC Wainwright restated a “neutral” rating and issued a $22.00 price target on shares of MAG Silver in a report on Thursday, July 24th. TD Securities lowered shares of MAG Silver from a “strong-buy” rating to a “strong sell” rating in a report on Thursday, May 22nd. Roth Capital restated a “neutral” rating and issued a $23.00 price target (up previously from $22.00) on shares of MAG Silver in a report on Tuesday. Finally, Scotiabank restated an “outperform” rating on shares of MAG Silver in a report on Tuesday. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $21.00.

MAG Silver Stock Performance

NYSEAMERICAN MAG opened at $22.85 on Friday. MAG Silver Corporation has a one year low of $11.72 and a one year high of $23.42. The company’s 50 day moving average price is $21.57 and its 200 day moving average price is $17.74. The firm has a market capitalization of $2.37 billion, a price-to-earnings ratio of 23.08 and a beta of 0.69.

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.