Amundi grew its position in MAG Silver Corp. (NYSEAMERICAN:MAG - Free Report) by 34.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 507,941 shares of the company's stock after acquiring an additional 129,627 shares during the period. Amundi owned about 0.49% of MAG Silver worth $7,264,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Quantbot Technologies LP acquired a new position in MAG Silver in the 3rd quarter valued at about $52,000. Pekin Hardy Strauss Inc. bought a new stake in shares of MAG Silver during the third quarter worth approximately $140,000. DF Dent & Co. Inc. acquired a new position in shares of MAG Silver in the third quarter valued at approximately $140,000. Aigen Investment Management LP bought a new position in shares of MAG Silver during the fourth quarter worth approximately $156,000. Finally, Verition Fund Management LLC acquired a new stake in MAG Silver during the 3rd quarter worth approximately $168,000. Institutional investors and hedge funds own 52.50% of the company's stock.
Wall Street Analysts Forecast Growth
Several research analysts have recently commented on MAG shares. TD Securities raised shares of MAG Silver to a "strong-buy" rating in a report on Monday, March 10th. HC Wainwright restated a "buy" rating and set a $21.00 price objective on shares of MAG Silver in a research note on Tuesday, February 25th. Four investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, MAG Silver currently has an average rating of "Moderate Buy" and a consensus target price of $18.63.
Check Out Our Latest Research Report on MAG
MAG Silver Price Performance
Shares of MAG traded down $0.81 during midday trading on Wednesday, hitting $15.79. The company's stock had a trading volume of 965,441 shares, compared to its average volume of 597,289. The company's fifty day moving average price is $15.35. The company has a market cap of $1.63 billion, a PE ratio of 22.24 and a beta of 1.09. MAG Silver Corp. has a one year low of $8.94 and a one year high of $18.27.
About MAG Silver
(
Free Report)
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.
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