Highbridge Capital Management LLC Takes Position in MAG Silver Corp (MAG)
Highbridge Capital Management LLC purchased a new stake in shares of MAG Silver Corp (NYSE:MAG) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 23,700 shares of the industrial goods maker’s stock, valued at approximately $309,000.
Other institutional investors also recently made changes to their positions in the company. Great West Life Assurance Co. Can boosted its position in shares of MAG Silver Corp by 0.3% in the first quarter. Great West Life Assurance Co. Can now owns 399,703 shares of the industrial goods maker’s stock valued at $5,231,000 after buying an additional 1,019 shares during the period. UBS Asset Management Americas Inc. boosted its position in shares of MAG Silver Corp by 50.5% in the first 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 during the period. A.R.T. Advisors LLC bought a new position in shares of MAG Silver Corp during the fourth quarter valued at $114,000. Quadrature Capital Ltd bought a new position in shares of MAG Silver Corp during the fourth quarter valued at $293,000. Finally, Renaissance Technologies LLC bought a new position in shares of MAG Silver Corp during the fourth quarter valued at $332,000.
Shares of MAG Silver Corp (NYSE MAG) traded down 3.85% during midday trading on Friday, reaching $12.24. The company’s stock had a trading volume of 547,575 shares. The company’s 50-day moving average price is $12.92 and its 200-day moving average price is $13.34. MAG Silver Corp has a 12 month low of $9.50 and a 12 month high of $18.12. The company’s market cap is $988.44 million.
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Several equities analysts have recently weighed in on the company. Zacks Investment Research cut MAG Silver Corp from a “buy” rating to a “hold” rating in a research report on Thursday, July 20th. BMO Capital Markets upgraded MAG Silver Corp from a “market perform” rating to an “outperform” rating and reduced their target price for the stock from $18.00 to $9.50 in a research report on Friday, May 26th. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and three have issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $15.25.
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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