Swiss National Bank raised its holdings in shares of MAG Silver Corp (NYSEAMERICAN:MAG) by 10.9% during the second quarter, according to its most recent filing with the SEC. The firm owned 140,200 shares of the company’s stock after purchasing an additional 13,800 shares during the period. Swiss National Bank owned 0.16% of MAG Silver worth $1,510,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of MAG Silver by 711.7% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 773,088 shares of the company’s stock worth $8,345,000 after buying an additional 677,843 shares during the last quarter. Van ECK Associates Corp grew its position in shares of MAG Silver by 8.0% in the 1st quarter. Van ECK Associates Corp now owns 5,478,156 shares of the company’s stock worth $53,412,000 after buying an additional 405,935 shares during the last quarter. TD Asset Management Inc. grew its position in shares of MAG Silver by 32.9% in the 2nd quarter. TD Asset Management Inc. now owns 426,591 shares of the company’s stock worth $4,605,000 after buying an additional 105,700 shares during the last quarter. Jane Street Group LLC grew its position in shares of MAG Silver by 579.6% in the 1st quarter. Jane Street Group LLC now owns 114,467 shares of the company’s stock worth $1,116,000 after buying an additional 97,624 shares during the last quarter. Finally, PCJ Investment Counsel Ltd. purchased a new position in shares of MAG Silver in the 1st quarter worth approximately $597,000.
Several analysts have weighed in on the stock. Zacks Investment Research raised shares of MAG Silver from a “sell” rating to a “hold” rating and set a $13.00 target price on the stock in a research report on Saturday, May 19th. HC Wainwright set a $19.00 target price on shares of MAG Silver and gave the stock a “buy” rating in a research report on Wednesday, August 15th. Finally, National Bank Financial reissued an “outperform spec market weight” rating on shares of MAG Silver in a research report on Sunday, August 12th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $16.00.
MAG Silver Profile
MAG Silver Corp. focuses on acquiring, exploring, and development of mineral properties in Canada. It explores for copper, gold, silver, lead, and zinc deposits. The company primarily holds interests in the Juanicipio property covering 7,679 hectares located in the Fresnillo District, Zacatecas State, Mexico.
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