Sprott Inc. Acquires 208,252 Shares of MAG Silver Corp. (NYSEAMERICAN:MAG)

Sprott Inc. lifted its holdings in shares of MAG Silver Corp. (NYSEAMERICAN:MAG) by 8.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,649,507 shares of the company’s stock after purchasing an additional 208,252 shares during the quarter. MAG Silver accounts for 2.1% of Sprott Inc.’s holdings, making the stock its 13th largest position. Sprott Inc. owned 2.56% of MAG Silver worth $36,004,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Capital Performance Advisors LLP acquired a new position in MAG Silver in the third quarter valued at about $28,000. Quantbot Technologies LP acquired a new position in shares of MAG Silver in the 3rd quarter valued at approximately $52,000. DF Dent & Co. Inc. bought a new stake in shares of MAG Silver during the 3rd quarter worth approximately $140,000. Pekin Hardy Strauss Inc. acquired a new stake in shares of MAG Silver during the 3rd quarter worth approximately $140,000. Finally, International Assets Investment Management LLC bought a new position in MAG Silver in the third quarter valued at approximately $148,000. 52.50% of the stock is currently owned by institutional investors and hedge funds.

MAG Silver Stock Down 1.7 %

MAG stock opened at $15.41 on Wednesday. MAG Silver Corp. has a 1 year low of $8.19 and a 1 year high of $18.27. The company has a market cap of $1.59 billion, a P/E ratio of 21.70 and a beta of 1.09.

Analyst Ratings Changes

Separately, HC Wainwright restated a “buy” rating and set a $21.00 target price on shares of MAG Silver in a research note on Tuesday. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $18.63.

MAG Silver Profile

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.