Sprott Inc. Has $36 Million Stock Position in MAG Silver Corp. (NYSEAMERICAN:MAG)

Sprott Inc. grew its holdings in shares of MAG Silver Corp. (NYSEAMERICAN:MAGFree Report) by 8.5% in the 4th quarter, Holdings Channel.com reports. The fund owned 2,649,507 shares of the company’s stock after purchasing an additional 208,252 shares during the period. MAG Silver makes up about 2.1% of Sprott Inc.’s holdings, making the stock its 13th biggest holding. Sprott Inc.’s holdings in MAG Silver were worth $36,004,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the business. Capital Performance Advisors LLP bought a new stake in MAG Silver in the third quarter valued at approximately $28,000. Quantbot Technologies LP acquired a new position in shares of MAG Silver in the 3rd quarter worth approximately $52,000. DF Dent & Co. Inc. acquired a new position in shares of MAG Silver in the 3rd quarter worth approximately $140,000. Pekin Hardy Strauss Inc. bought a new stake in shares of MAG Silver in the 3rd quarter valued at $140,000. Finally, International Assets Investment Management LLC acquired a new stake in shares of MAG Silver during the third quarter worth $148,000. Institutional investors and hedge funds own 52.50% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reaffirmed a “buy” rating and set a $21.00 price target on shares of MAG Silver in a research report on Tuesday. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, MAG Silver has an average rating of “Hold” and a consensus target price of $18.63.

Read Our Latest Stock Analysis on MAG

MAG Silver Price Performance

NYSEAMERICAN:MAG opened at $15.41 on Wednesday. The firm has a market capitalization of $1.59 billion, a PE ratio of 21.70 and a beta of 1.09. MAG Silver Corp. has a twelve month low of $8.19 and a twelve month high of $18.27.

MAG Silver Profile

(Free Report)

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.

Read More

Want to see what other hedge funds are holding MAG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MAG Silver Corp. (NYSEAMERICAN:MAGFree Report).

Institutional Ownership by Quarter for MAG Silver (NYSEAMERICAN:MAG)

Receive News & Ratings for MAG Silver Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MAG Silver and related companies with MarketBeat.com's FREE daily email newsletter.