Shepherd Kaplan Krochuk LLC raised its position in MAG Silver Corp (NYSEAMERICAN:MAG) by 15.3% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 160,238 shares of the company’s stock after acquiring an additional 21,238 shares during the quarter. MAG Silver comprises about 1.2% of Shepherd Kaplan Krochuk LLC’s portfolio, making the stock its 18th biggest holding. Shepherd Kaplan Krochuk LLC’s holdings in MAG Silver were worth $1,689,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of the stock. Tocqueville Asset Management L.P. lifted its stake in MAG Silver by 18.3% in the 1st quarter. Tocqueville Asset Management L.P. now owns 7,917,725 shares of the company’s stock worth $84,429,000 after purchasing an additional 1,222,800 shares in the last quarter. Van ECK Associates Corp lifted its stake in MAG Silver by 4.3% in the 2nd quarter. Van ECK Associates Corp now owns 3,931,156 shares of the company’s stock worth $41,434,000 after purchasing an additional 160,423 shares in the last quarter. Bank of Montreal Can lifted its stake in MAG Silver by 268.1% in the 2nd quarter. Bank of Montreal Can now owns 1,671,131 shares of the company’s stock worth $17,614,000 after purchasing an additional 1,217,142 shares in the last quarter. Gilder Gagnon Howe & Co. LLC lifted its stake in MAG Silver by 98.6% in the 1st quarter. Gilder Gagnon Howe & Co. LLC now owns 1,608,390 shares of the company’s stock worth $17,145,000 after purchasing an additional 798,570 shares in the last quarter. Finally, PenderFund Capital Management Ltd. purchased a new position in MAG Silver in the 2nd quarter worth approximately $13,833,000.
MAG has been the topic of a number of research reports. Zacks Investment Research raised shares of MAG Silver from a “hold” rating to a “strong-buy” rating and set a $12.00 target price on the stock in a research note on Thursday, July 18th. HC Wainwright raised their target price on shares of MAG Silver from $16.50 to $18.50 and gave the stock a “buy” rating in a research note on Monday, August 19th. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. MAG Silver presently has an average rating of “Buy” and an average target price of $16.50.
MAG Silver (NYSEAMERICAN:MAG) last released its quarterly earnings results on Monday, August 12th. The company reported ($0.01) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.02) by $0.01.
MAG Silver Company Profile
MAG Silver Corp. focuses on acquiring, exploring, and development of mineral properties in Mexico. It explores for silver, gold, lead, and zinc deposits. The company primarily holds interest in the Juanicipio property covering an area of approximately 7,679 hectares located in the Fresnillo District, Zacatecas State, Mexico.
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