Mirae Asset Global Investments Co. Ltd. grew its stake in shares of MAG Silver Corp. (NYSEAMERICAN:MAG – Free Report) by 1.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,483,696 shares of the company’s stock after purchasing an additional 44,444 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned approximately 2.41% of MAG Silver worth $27,685,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in MAG. Advisor Group Holdings Inc. increased its holdings in shares of MAG Silver by 73.4% in the 1st quarter. Advisor Group Holdings Inc. now owns 24,835 shares of the company’s stock worth $394,000 after acquiring an additional 10,513 shares during the period. Cetera Advisor Networks LLC acquired a new position in shares of MAG Silver during the first quarter worth approximately $219,000. BlackRock Inc. increased its position in MAG Silver by 1.0% in the 1st quarter. BlackRock Inc. now owns 670,578 shares of the company’s stock valued at $10,843,000 after acquiring an additional 6,578 shares during the period. Dimensional Fund Advisors LP boosted its position in MAG Silver by 115.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 307,218 shares of the company’s stock worth $4,968,000 after acquiring an additional 164,859 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in MAG Silver by 7.9% in the first quarter. Vanguard Group Inc. now owns 54,836 shares of the company’s stock worth $886,000 after purchasing an additional 4,024 shares during the period. 42.80% of the stock is currently owned by institutional investors and hedge funds.
MAG Silver Stock Down 0.2 %
NYSEAMERICAN:MAG opened at $10.48 on Tuesday. MAG Silver Corp. has a one year low of $9.60 and a one year high of $17.02. The firm has a market cap of $1.08 billion, a P/E ratio of 32.75 and a beta of 1.11.
Analysts Set New Price Targets
MAG has been the topic of a number of analyst reports. Scotiabank dropped their price target on MAG Silver from $16.00 to $15.50 in a research note on Monday, August 14th. HC Wainwright restated a “buy” rating and set a $19.50 price objective on shares of MAG Silver in a research report on Monday, November 13th. BMO Capital Markets started coverage on MAG Silver in a report on Thursday, September 14th. They issued an “outperform” rating and a $23.50 target price on the stock. Finally, StockNews.com upgraded shares of MAG Silver to a “sell” rating in a report on Monday. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $22.39.
MAG Silver Company Profile
MAG Silver Corp. engages in the exploration and development of precious metal mining properties. The company explores for silver, gold, lead, copper, and zinc deposits. It primarily holds 44% interest in the Juanicipio project located in the Fresnillo District, Zacatecas State, Mexico. MAG Silver Corp.
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