Knoll Capital Management LLC Sells 105,000 Shares of MAG Silver Corp. (NYSEAMERICAN:MAG)

Knoll Capital Management LLC trimmed its stake in shares of MAG Silver Corp. (NYSEAMERICAN:MAG) by 38.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 170,000 shares of the company’s stock after selling 105,000 shares during the quarter. MAG Silver accounts for about 1.2% of Knoll Capital Management LLC’s holdings, making the stock its 17th largest position. Knoll Capital Management LLC owned about 0.16% of MAG Silver worth $2,387,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC purchased a new stake in MAG Silver during the 2nd quarter valued at about $9,932,000. TD Asset Management Inc increased its position in MAG Silver by 118.3% during the 2nd quarter. TD Asset Management Inc now owns 1,063,055 shares of the company’s stock valued at $12,415,000 after buying an additional 576,156 shares in the last quarter. Van ECK Associates Corp increased its position in MAG Silver by 4.8% during the 3rd quarter. Van ECK Associates Corp now owns 10,231,410 shares of the company’s stock valued at $143,649,000 after buying an additional 467,817 shares in the last quarter. Janus Henderson Group PLC bought a new stake in shares of MAG Silver in the 1st quarter worth $3,925,000. Finally, Intact Investment Management Inc. bought a new stake in shares of MAG Silver in the 2nd quarter worth $3,151,000. 52.50% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

MAG Silver Stock Performance

NYSEAMERICAN:MAG opened at $15.35 on Friday. MAG Silver Corp. has a 52 week low of $8.19 and a 52 week high of $18.27. The stock has a market cap 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 data 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, analysts expect that MAG Silver Corp. will post 0.73 EPS for the current fiscal year.

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.