Monaco Asset Management SAM Boosts Holdings in MAG Silver Corp. (NYSEAMERICAN:MAG)

Monaco Asset Management SAM lifted its position in shares of MAG Silver Corp. (NYSEAMERICAN:MAG - Free Report) by 181.2% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 231,122 shares of the company's stock after acquiring an additional 148,922 shares during the period. MAG Silver accounts for 0.5% of Monaco Asset Management SAM's portfolio, making the stock its 23rd biggest holding. Monaco Asset Management SAM owned about 0.22% of MAG Silver worth $3,142,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. CIBC Asset Management Inc increased its holdings in MAG Silver by 0.7% in the fourth quarter. CIBC Asset Management Inc now owns 114,355 shares of the company's stock worth $1,550,000 after buying an additional 755 shares during the last quarter. Swiss National Bank increased its holdings in shares of MAG Silver by 0.6% in the fourth quarter. Swiss National Bank now owns 193,900 shares of the company's stock valued at $2,633,000 after purchasing an additional 1,200 shares in the last quarter. Quantbot Technologies LP bought a new position in MAG Silver in the third quarter valued at approximately $52,000. Pekin Hardy Strauss Inc. bought a new position in shares of MAG Silver during the third quarter worth $140,000. Finally, DF Dent & Co. Inc. bought a new stake in MAG Silver in the 3rd quarter valued at $140,000. Institutional investors own 52.50% of the company's stock.

MAG Silver Trading Down 1.3 %

Shares of MAG Silver stock traded down $0.22 during trading on Tuesday, reaching $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 company has a market cap of $1.72 billion, a P/E ratio of 23.38 and a beta of 1.09. The firm has a 50-day simple moving average of $15.30.

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Analysts Set New Price Targets

Several research firms have recently weighed in on MAG. TD Securities upgraded shares of MAG Silver to a "strong-buy" rating in a research note on Monday, March 10th. 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. 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, the company presently has a consensus rating of "Moderate Buy" and a consensus target price 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.