MAG Silver Corp (NYSEAMERICAN:MAG) Shares Sold by Gabelli Funds LLC
Gabelli Funds LLC decreased its position in MAG Silver Corp (NYSEAMERICAN:MAG) by 33.1% in the 3rd quarter, Holdings Channel reports. The fund owned 247,500 shares of the company’s stock after selling 122,500 shares during the period. Gabelli Funds LLC’s holdings in MAG Silver were worth $2,626,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Bank of Montreal Can grew its position in MAG Silver by 268.1% in the second quarter. Bank of Montreal Can now owns 1,671,131 shares of the company’s stock valued at $17,614,000 after acquiring an additional 1,217,142 shares in the last quarter. Confluence Investment Management LLC purchased a new position in shares of MAG Silver during the 2nd quarter valued at approximately $146,000. Great West Life Assurance Co. Can boosted its stake in shares of MAG Silver by 36.1% during the 3rd quarter. Great West Life Assurance Co. Can now owns 730,712 shares of the company’s stock valued at $7,795,000 after buying an additional 193,878 shares during the last quarter. Fiera Capital Corp boosted its stake in shares of MAG Silver by 35.7% during the 2nd quarter. Fiera Capital Corp now owns 680,813 shares of the company’s stock valued at $7,186,000 after buying an additional 179,278 shares during the last quarter. Finally, Toronto Dominion Bank boosted its stake in shares of MAG Silver by 100.5% during the 2nd quarter. Toronto Dominion Bank now owns 86,177 shares of the company’s stock valued at $910,000 after buying an additional 43,194 shares during the last quarter.
MAG traded up $0.20 during trading hours on Friday, hitting $9.76. 503,171 shares of the stock were exchanged, compared to its average volume of 360,087. MAG Silver Corp has a 12 month low of $6.12 and a 12 month high of $14.00.
MAG has been the subject of several research analyst reports. HC Wainwright increased their target price on MAG Silver from $16.50 to $18.50 and gave the company a “buy” rating in a research note on Monday, August 19th. Zacks Investment Research cut MAG Silver from a “buy” rating to a “hold” rating in a research note on Saturday, November 2nd. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $14.75.
In other news, insider Berrie David 1,360,000 shares of MAG Silver stock in a transaction that occurred on Wednesday, October 30th.
About MAG Silver
MAG Silver Corp. focuses on acquiring, exploring, and development of mineral properties in Mexico. It explores for silver, gold, lead, and zinc deposits. The company primarily holds interest in the Juanicipio property covering an area of approximately 7,679 hectares located in the Fresnillo District, Zacatecas State, Mexico.
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