MAG Silver Corp. (NYSEAMERICAN:MAG) Stake Boosted by Intact Investment Management Inc.

Intact Investment Management Inc. boosted its holdings in MAG Silver Corp. (NYSEAMERICAN:MAG - Free Report) by 21.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 307,433 shares of the company's stock after purchasing an additional 54,033 shares during the quarter. Intact Investment Management Inc. owned approximately 0.30% of MAG Silver worth $4,176,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of MAG. Raymond James Financial Inc. acquired a new position in shares of MAG Silver during the fourth quarter valued at $3,482,000. The Manufacturers Life Insurance Company boosted its holdings in shares of MAG Silver by 199.7% during the third quarter. The Manufacturers Life Insurance Company now owns 382,027 shares of the company's stock valued at $5,374,000 after acquiring an additional 254,553 shares during the period. Sprott Inc. boosted its holdings in shares of MAG Silver by 8.5% during the fourth quarter. Sprott Inc. now owns 2,649,507 shares of the company's stock valued at $36,004,000 after acquiring an additional 208,252 shares during the period. JPMorgan Chase & Co. raised its stake in shares of 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, Monaco Asset Management SAM raised its stake in shares of MAG Silver by 181.2% during the fourth quarter. Monaco Asset Management SAM now owns 231,122 shares of the company's stock valued at $3,142,000 after purchasing an additional 148,922 shares in the last quarter. Institutional investors and hedge funds own 52.50% of the company's stock.

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Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on MAG shares. 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. TD Securities upgraded shares of MAG Silver to a "strong-buy" rating in a research note on Monday, March 10th. Four equities research 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's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $18.63.

MAG Silver Price Performance

MAG Silver stock traded down $0.80 during midday trading on Wednesday, hitting $15.80. The company's stock had a trading volume of 1,033,617 shares, compared to its average volume of 603,243. The business's 50-day simple moving average is $15.35. MAG Silver Corp. has a 12 month low of $8.94 and a 12 month high of $18.27. The firm has a market capitalization of $1.63 billion, a P/E ratio of 22.25 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.