Strategic Financial Concepts LLC bought a new stake in MAG Silver Corp. (NYSEAMERICAN:MAG - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 17,680 shares of the company's stock, valued at approximately $240,000.
Other institutional investors have also recently made changes to their positions in the company. Capital Performance Advisors LLP purchased a new stake in MAG Silver in the 3rd quarter valued at $28,000. Quantbot Technologies LP purchased a new stake in shares of MAG Silver in the third quarter valued at about $52,000. DF Dent & Co. Inc. acquired a new stake in MAG Silver during the third quarter worth about $140,000. Pekin Hardy Strauss Inc. purchased a new position in MAG Silver during the third quarter worth about $140,000. Finally, International Assets Investment Management LLC purchased a new position in MAG Silver during the third quarter worth about $148,000. 52.50% of the stock is owned by institutional investors and hedge funds.
MAG Silver Trading Down 1.7 %
Shares of MAG stock traded down $0.27 on Tuesday, reaching $15.41. 431,806 shares of the stock were exchanged, compared to its average volume of 586,581. The company has a market cap of $1.59 billion, a P/E ratio of 21.70 and a beta of 1.09. MAG Silver Corp. has a twelve month low of $8.19 and a twelve month high of $18.27.
Analysts Set New Price Targets
Separately, HC Wainwright restated a "buy" rating and set a $21.00 price target on shares of MAG Silver in a report on Tuesday. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, MAG Silver presently has an average rating of "Hold" and a consensus price target of $18.63.
View Our Latest Stock Report on MAG
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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