MAG Silver Corp. (NYSEAMERICAN:MAG) Shares Purchased by Amundi

Amundi raised its stake in MAG Silver Corp. (NYSEAMERICAN:MAG) by 34.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 507,941 shares of the company’s stock after purchasing an additional 129,627 shares during the quarter. Amundi’s holdings in MAG Silver were worth $7,264,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. CIBC Asset Management Inc boosted its holdings in shares of MAG Silver by 0.7% during the fourth quarter. CIBC Asset Management Inc now owns 114,355 shares of the company’s stock worth $1,550,000 after purchasing an additional 755 shares during the last quarter. Quantbot Technologies LP purchased a new position in MAG Silver during the third quarter worth about $52,000. Pekin Hardy Strauss Inc. acquired a new stake in MAG Silver in the 3rd quarter worth about $140,000. DF Dent & Co. Inc. purchased a new stake in MAG Silver in the 3rd quarter valued at about $140,000. Finally, Aigen Investment Management LP acquired a new position in shares of MAG Silver during the 4th quarter valued at about $156,000. 52.50% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on MAG. HC Wainwright reaffirmed a “buy” rating and set a $21.00 price target on shares of MAG Silver in a research note on Tuesday, February 25th. TD Securities raised MAG Silver to a “strong-buy” rating in a research report on Monday, March 10th. Four analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, MAG Silver presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.63.

MAG Silver Stock Performance

Shares of NYSEAMERICAN MAG opened at $16.07 on Friday. The firm has a fifty day moving average of $15.24. MAG Silver Corp. has a 12-month low of $8.94 and a 12-month high of $18.27. The firm has a market cap of $1.66 billion, a P/E ratio of 22.63 and a beta of 1.09.

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.