Loews Corp acquired a new stake in MAG Silver Corp (NYSE:MAG) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 159,203 shares of the company’s stock, valued at approximately $1,752,000. Loews Corp owned 0.20% of MAG Silver Corp at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of MAG. Gamco Investors INC. ET AL bought a new position in shares of MAG Silver Corp during the fourth quarter valued at $520,000. Royce & Associates LP bought a new position in shares of MAG Silver Corp during the fourth quarter valued at $817,000. FMR LLC bought a new position in shares of MAG Silver Corp during the fourth quarter valued at $3,611,000. GRT Capital Partners L.L.C. bought a new position in shares of MAG Silver Corp during the fourth quarter valued at $216,000. Finally, Investec Asset Management LTD bought a new position in shares of MAG Silver Corp during the fourth quarter valued at $1,908,000.
Shares of MAG Silver Corp (NYSE:MAG) traded up 2.53% during mid-day trading on Tuesday, reaching $16.59. The company’s stock had a trading volume of 274,515 shares. The company’s market capitalization is $1.34 billion. MAG Silver Corp has a 1-year low of $6.93 and a 1-year high of $18.12. The firm’s 50 day moving average price is $13.50 and its 200-day moving average price is $14.14.
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MAG has been the topic of several recent research reports. Zacks Investment Research upgraded MAG Silver Corp from a “hold” rating to a “buy” rating and set a $14.00 target price on the stock in a report on Wednesday, November 23rd. Citigroup Inc. raised shares of MAG Silver Corp from an “outperform” rating to a “strong-buy” rating in a research report on Thursday, December 22nd. They noted that the move was a valuation call. Raymond James Financial, Inc. raised shares of MAG Silver Corp from an “outperform” rating to a “strong-buy” rating in a research report on Thursday, December 22nd. Finally, Desjardins raised shares of MAG Silver Corp from a “hold” rating to a “buy” rating in a research report on Thursday, October 20th. Three analysts have rated the stock with a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the company’s stock. MAG Silver Corp currently has a consensus rating of “Buy” and an average target price of $15.00.
About MAG Silver Corp
MAG Silver Corp. is a mineral exploration and development company. The Company is focused on the acquisition, exploration and development of projects located within the Mexican silver belt. The Company operates through the exploration of mineral properties in Mexico segment. The Company’s projects include Juanicipio Property, Cinco De Mayo Property and Guigui Property.
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