Investec Asset Management LTD grew its holdings in MAG Silver Corp (NYSE:MAG) by 14.9% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 390,134 shares of the industrial goods maker’s stock after buying an additional 50,729 shares during the period. Investec Asset Management LTD owned 0.48% of MAG Silver Corp worth $5,086,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also modified their holdings of MAG. UBS Asset Management Americas Inc. acquired a new stake in shares of MAG Silver Corp in the fourth quarter valued at about $164,000. Sigma Planning Corp acquired a new stake in shares of MAG Silver Corp in the second quarter valued at about $203,000. Goldman Sachs Group Inc. acquired a new stake in shares of MAG Silver Corp in the first quarter valued at about $242,000. Highbridge Capital Management LLC acquired a new stake in shares of MAG Silver Corp in the first quarter valued at about $309,000. Finally, GRT Capital Partners L.L.C. raised its position in shares of MAG Silver Corp by 32.1% in the second quarter. GRT Capital Partners L.L.C. now owns 23,842 shares of the industrial goods maker’s stock valued at $311,000 after buying an additional 5,800 shares during the last quarter.
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Shares of MAG Silver Corp (MAG) opened at 11.9859 on Wednesday. MAG Silver Corp has a 52-week low of $9.50 and a 52-week high of $17.35. The company’s 50-day moving average is $12.58 and its 200 day moving average is $12.78. The firm’s market capitalization is $968.41 million.
A number of brokerages have recently commented on MAG. Zacks Investment Research upgraded shares of MAG Silver Corp from a “hold” rating to a “strong-buy” rating and set a $14.00 target price for the company in a research report on Wednesday, August 23rd. Roth Capital set a $22.00 target price on shares of MAG Silver Corp and gave the company a “buy” rating in a research report on Monday, August 21st. Finally, BMO Capital Markets upgraded shares of MAG Silver Corp from a “market perform” rating to an “outperform” rating and reduced their target price for the company from $18.00 to $9.50 in a research report on Friday, May 26th. Five equities research analysts have rated the stock with a buy rating and four have issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $16.50.
About MAG Silver Corp
MAG Silver Corp. is a mineral exploration and development company. The Company is focused on the acquisition, exploration and development of projects located within the Mexican silver belt. The Company operates through the exploration of mineral properties in Mexico segment. The Company’s projects include Juanicipio Property, Cinco De Mayo Property and Guigui Property.
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