First Eagle Investment Management LLC Acquires 2,486,538 Shares of MAG Silver Corp. (NYSEAMERICAN:MAG)

First Eagle Investment Management LLC lifted its stake in MAG Silver Corp. (NYSEAMERICAN:MAG - Free Report) by 46.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,839,793 shares of the company's stock after buying an additional 2,486,538 shares during the period. First Eagle Investment Management LLC owned approximately 7.58% of MAG Silver worth $106,379,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in MAG. Barclays PLC raised its position in MAG Silver by 211.5% during the third quarter. Barclays PLC now owns 30,780 shares of the company's stock valued at $432,000 after purchasing an additional 20,899 shares in the last quarter. Intact Investment Management Inc. raised its position in MAG Silver by 21.3% during the fourth quarter. Intact Investment Management Inc. now owns 307,433 shares of the company's stock valued at $4,176,000 after purchasing an additional 54,033 shares in the last quarter. Strategic Financial Concepts LLC acquired a new position in MAG Silver during the fourth quarter valued at approximately $240,000. JPMorgan Chase & Co. raised its position in MAG Silver by 69.1% during the third quarter. JPMorgan Chase & Co. now owns 456,335 shares of the company's stock valued at $6,407,000 after purchasing an additional 186,445 shares in the last quarter. Finally, PCJ Investment Counsel Ltd. raised its position in MAG Silver by 38.1% during the third quarter. PCJ Investment Counsel Ltd. now owns 369,290 shares of the company's stock valued at $5,196,000 after purchasing an additional 101,870 shares in the last quarter. 52.50% of the stock is currently owned by institutional investors.

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MAG Silver Price Performance

NYSEAMERICAN MAG traded down $0.22 during trading hours on Tuesday, hitting $16.60. The company's stock had a trading volume of 872,916 shares, compared to its average volume of 594,804. MAG Silver Corp. has a 52 week low of $8.94 and a 52 week high of $18.27. The stock has a market capitalization of $1.72 billion, a P/E ratio of 23.38 and a beta of 1.09. The company's 50-day moving average price is $15.30.

Analysts Set New Price Targets

MAG has been the subject of several research analyst reports. TD Securities upgraded shares of MAG Silver to a "strong-buy" rating in a research report on Monday, March 10th. HC Wainwright reiterated a "buy" rating and set a $21.00 price target on shares of MAG Silver in a report on Tuesday, February 25th. Four research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $18.63.

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.