Amundi Grows Holdings in MAG Silver Corp. (NYSEAMERICAN:MAG)

Amundi lifted its position in shares of MAG Silver Corp. (NYSEAMERICAN:MAG) by 34.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 507,941 shares of the company’s stock after acquiring an additional 129,627 shares during the quarter. Amundi owned 0.49% of MAG Silver worth $7,264,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. PCJ Investment Counsel Ltd. lifted its position in shares of MAG Silver by 38.1% during the 3rd quarter. PCJ Investment Counsel Ltd. now owns 369,290 shares of the company’s stock valued at $5,196,000 after buying an additional 101,870 shares in the last quarter. Pekin Hardy Strauss Inc. acquired a new position in MAG Silver during the third quarter worth $140,000. The Manufacturers Life Insurance Company lifted its holdings in MAG Silver by 199.7% during the third quarter. The Manufacturers Life Insurance Company now owns 382,027 shares of the company’s stock valued at $5,374,000 after purchasing an additional 254,553 shares in the last quarter. Quantbot Technologies LP acquired a new stake in shares of MAG Silver in the third quarter valued at about $52,000. Finally, Verition Fund Management LLC purchased a new stake in shares of MAG Silver during the third quarter worth about $168,000. 52.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MAG has been the topic of several research reports. HC Wainwright reissued a “buy” rating and issued a $21.00 price target on shares of MAG Silver in a research note on Tuesday, February 25th. TD Securities raised shares of MAG Silver to a “strong-buy” rating in a research note on Monday, March 10th. Four equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $18.63.

MAG Silver Price Performance

MAG stock opened at $16.07 on Friday. The company has a fifty day moving average price of $15.24. MAG Silver Corp. has a 12-month low of $8.94 and a 12-month high of $18.27. The stock has a market cap of $1.66 billion, a P/E ratio of 22.63 and a beta of 1.09.

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.