Hara Capital LLC Has $178,000 Stock Holdings in MAG Silver Corp. (NYSEAMERICAN:MAG)

Hara Capital LLC lowered its position in MAG Silver Corp. (NYSEAMERICAN:MAG) by 13.6% during the 3rd quarter, Holdings Channel reports. The fund owned 12,659 shares of the company’s stock after selling 2,000 shares during the period. Hara Capital LLC’s holdings in MAG Silver were worth $178,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in MAG. Perritt Capital Management Inc. bought a new stake in shares of MAG Silver during the first quarter worth about $26,000. Addenda Capital Inc. bought a new stake in MAG Silver during the 2nd quarter worth approximately $123,000. International Assets Investment Management LLC purchased a new stake in shares of MAG Silver in the third quarter worth approximately $148,000. Susquehanna Fundamental Investments LLC purchased a new position in shares of MAG Silver during the second quarter valued at approximately $161,000. Finally, Veracity Capital LLC boosted its position in shares of MAG Silver by 16.8% during the third quarter. Veracity Capital LLC now owns 16,653 shares of the company’s stock valued at $234,000 after buying an additional 2,396 shares during the last quarter. Institutional investors and hedge funds own 52.50% of the company’s stock.

MAG Silver Stock Up 2.0 %

MAG traded up $0.32 during midday trading on Thursday, reaching $16.49. The company had a trading volume of 95,460 shares, compared to its average volume of 722,260. MAG Silver Corp. has a 12-month low of $8.19 and a 12-month high of $18.27. The stock has a market cap of $1.70 billion, a price-to-earnings ratio of 28.43 and a beta of 1.12.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. HC Wainwright raised their price objective on MAG Silver from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Roth Mkm lowered shares of MAG Silver from a “buy” rating to a “neutral” rating and raised their price target for the company from $17.00 to $17.50 in a research report on Thursday, October 24th. Roth Capital downgraded shares of MAG Silver from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 24th. Scotiabank lifted their target price on shares of MAG Silver from $14.50 to $15.50 and gave the stock a “sector outperform” rating in a research report on Monday, August 19th. Finally, StockNews.com raised MAG Silver from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $17.88.

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.