MAG Silver Corp. (NYSEAMERICAN:MAG) is Azarias Capital Management L.P.’s 4th Largest Position

Azarias Capital Management L.P. raised its position in shares of MAG Silver Corp. (NYSEAMERICAN:MAG) by 73.7% during the first quarter, HoldingsChannel reports. The firm owned 1,405,136 shares of the company’s stock after purchasing an additional 596,283 shares during the period. MAG Silver makes up approximately 6.2% of Azarias Capital Management L.P.’s holdings, making the stock its 4th biggest holding. Azarias Capital Management L.P.’s holdings in MAG Silver were worth $14,866,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Invesco Ltd. lifted its holdings in shares of MAG Silver by 8.8% in the 3rd quarter. Invesco Ltd. now owns 1,465,920 shares of the company’s stock worth $15,202,000 after acquiring an additional 118,211 shares during the last quarter. Toronto Dominion Bank raised its position in MAG Silver by 11.7% in the 3rd quarter. Toronto Dominion Bank now owns 49,634 shares of the company’s stock worth $515,000 after purchasing an additional 5,206 shares during the period. Quadrature Capital Ltd purchased a new position in MAG Silver in the 3rd quarter worth $127,000. Public Sector Pension Investment Board raised its position in MAG Silver by 2.0% in the 3rd quarter. Public Sector Pension Investment Board now owns 200,173 shares of the company’s stock worth $2,079,000 after purchasing an additional 4,012 shares during the period. Finally, Hedges Asset Management LLC raised its position in MAG Silver by 10.5% in the 4th quarter. Hedges Asset Management LLC now owns 63,000 shares of the company’s stock worth $656,000 after purchasing an additional 6,000 shares during the period. Institutional investors own 52.50% of the company’s stock.

MAG Silver Trading Up 3.4 %

Shares of MAG stock traded up $0.40 during mid-day trading on Thursday, reaching $12.25. The stock had a trading volume of 415,855 shares, compared to its average volume of 558,560. MAG Silver Corp. has a 52-week low of $8.19 and a 52-week high of $14.30. The stock has a market capitalization of $1.26 billion, a price-to-earnings ratio of 21.88 and a beta of 1.12.

MAG Silver (NYSEAMERICAN:MAG) last released its quarterly earnings data on Tuesday, May 14th. The company reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.04. Equities analysts predict that MAG Silver Corp. will post 0.55 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Ventum Cap Mkts cut shares of MAG Silver from a “buy” rating to a “neutral” rating in a research report on Friday, May 3rd. StockNews.com upgraded shares of MAG Silver to a “sell” rating in a research report on Wednesday, March 27th. Stifel Nicolaus lifted their target price on shares of MAG Silver from $20.25 to $20.50 and gave the stock a “buy” rating in a research report on Wednesday, May 15th. Scotiabank lifted their target price on shares of MAG Silver from $13.50 to $14.50 and gave the stock a “sector outperform” rating in a research report on Thursday, May 23rd. Finally, HC Wainwright reiterated a “buy” rating and issued a $17.00 target price on shares of MAG Silver in a research report on Thursday, May 16th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $18.88.

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.