Spark Investment Management LLC Purchases Shares of 20,000 MAG Silver Corporation $MAG

Spark Investment Management LLC purchased a new stake in MAG Silver Corporation (NYSEAMERICAN:MAG) during the 2nd quarter, HoldingsChannel reports. The firm purchased 20,000 shares of the company’s stock, valued at approximately $425,000. MAG Silver accounts for about 1.2% of Spark Investment Management LLC’s portfolio, making the stock its 17th biggest position.

Other large investors have also made changes to their positions in the company. Banque Cantonale Vaudoise bought a new stake in MAG Silver during the 1st quarter valued at approximately $37,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of MAG Silver during the second quarter worth approximately $53,000. Mark Sheptoff Financial Planning LLC acquired a new position in shares of MAG Silver during the second quarter worth approximately $71,000. Northwest & Ethical Investments L.P. boosted its position in shares of MAG Silver by 39.3% in the first quarter. Northwest & Ethical Investments L.P. now owns 8,178 shares of the company’s stock valued at $124,000 after acquiring an additional 2,308 shares during the period. Finally, Everett Harris & Co. CA acquired a new stake in shares of MAG Silver in the first quarter worth $177,000. Institutional investors and hedge funds own 52.50% of the company’s stock.

MAG Silver Price Performance

Shares of MAG Silver stock opened at $24.47 on Wednesday. MAG Silver Corporation has a 52-week low of $11.72 and a 52-week high of $25.09. The firm has a market capitalization of $2.54 billion, a PE ratio of 24.72 and a beta of 0.73. The company’s fifty day moving average price is $24.47 and its two-hundred day moving average price is $22.30.

Analyst Upgrades and Downgrades

MAG has been the subject of several research analyst reports. HC Wainwright reiterated a “neutral” rating and set a $22.00 target price on shares of MAG Silver in a research note on Thursday, July 24th. Scotiabank restated an “outperform” rating on shares of MAG Silver in a report on Tuesday, August 12th. Finally, Roth Capital reiterated a “neutral” rating and issued a $23.00 target price (up previously from $22.00) on shares of MAG Silver in a research note on Tuesday, August 12th. Two investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $21.00.

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.