MAG Silver Corp (MAG) Holdings Lifted by Franklin Resources Inc.
Franklin Resources Inc. raised its stake in shares of MAG Silver Corp (NYSE:MAG) by 1.6% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,048,000 shares of the industrial goods maker’s stock after buying an additional 16,000 shares during the quarter. Franklin Resources Inc. owned about 1.30% of MAG Silver Corp worth $13,689,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the business. TD Asset Management Inc. grew its holdings in MAG Silver Corp by 1.5% during the 2nd quarter. TD Asset Management Inc. now owns 419,491 shares of the industrial goods maker’s stock valued at $5,469,000 after buying an additional 6,400 shares in the last quarter. UBS Asset Management Americas Inc. grew its holdings in MAG Silver Corp by 50.5% during the 1st quarter. UBS Asset Management Americas Inc. now owns 22,359 shares of the industrial goods maker’s stock valued at $292,000 after buying an additional 7,500 shares in the last quarter. Sigma Planning Corp purchased a new position in MAG Silver Corp during the 2nd quarter valued at about $203,000. Great West Life Assurance Co. Can grew its holdings in MAG Silver Corp by 4.4% during the 2nd quarter. Great West Life Assurance Co. Can now owns 417,363 shares of the industrial goods maker’s stock valued at $5,435,000 after buying an additional 17,660 shares in the last quarter. Finally, Goldman Sachs Group Inc. purchased a new position in MAG Silver Corp during the 1st quarter valued at about $242,000.
MAG Silver Corp (NYSE MAG) opened at 11.96 on Friday. The stock’s market cap is $966.32 million. The firm’s 50-day moving average price is $12.58 and its 200-day moving average price is $12.78. MAG Silver Corp has a 12-month low of $9.50 and a 12-month high of $17.35.
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A number of research analysts have weighed in on MAG shares. Zacks Investment Research raised MAG Silver Corp from a “hold” rating to a “buy” rating and set a $15.00 target price for the company in a report on Wednesday, July 19th. BMO Capital Markets raised MAG Silver Corp from a “market perform” rating to an “outperform” rating and reduced their target price for the company from $18.00 to $9.50 in a report on Friday, May 26th. Finally, Roth Capital set a $22.00 target price on MAG Silver Corp and gave the company a “buy” rating in a report on Monday, August 21st. Five equities research analysts have rated the stock with a buy rating and four have issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $16.50.
MAG Silver Corp Profile
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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