Connor Clark & Lunn Investment Management Ltd. boosted its holdings in MAG Silver Corp. (NYSEAMERICAN:MAG - Free Report) by 6.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,161,605 shares of the company's stock after acquiring an additional 73,205 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 1.12% of MAG Silver worth $15,762,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Quantbot Technologies LP purchased a new stake in shares of MAG Silver during the 3rd quarter valued at about $52,000. Pekin Hardy Strauss Inc. bought a new position in MAG Silver during the third quarter valued at approximately $140,000. DF Dent & Co. Inc. purchased a new stake in MAG Silver in the third quarter worth approximately $140,000. Aigen Investment Management LP bought a new stake in MAG Silver in the 4th quarter worth approximately $156,000. Finally, Verition Fund Management LLC bought a new stake in MAG Silver in the 3rd quarter worth approximately $168,000. 52.50% of the stock is currently owned by hedge funds and other institutional investors.
MAG Silver Trading Up 4.7 %
NYSEAMERICAN MAG traded up $0.75 during trading hours on Monday, hitting $16.82. 559,442 shares of the company were exchanged, compared to its average volume of 589,236. MAG Silver Corp. has a 52 week low of $8.94 and a 52 week high of $18.27. The stock has a 50-day moving average price of $15.24. The stock has a market capitalization of $1.74 billion, a PE ratio of 23.69 and a beta of 1.09.
Analyst Ratings Changes
A number of equities analysts recently issued reports on MAG shares. HC Wainwright reissued a "buy" rating and issued a $21.00 price objective on shares of MAG Silver in a report on Tuesday, February 25th. TD Securities upgraded shares of MAG Silver to a "strong-buy" rating in a research report on Monday, March 10th. Four investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, MAG Silver has a consensus rating of "Moderate Buy" and a consensus price target of $18.63.
View Our Latest Analysis on MAG Silver
MAG Silver Profile
(
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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