Sprott Inc. raised its stake in MAG Silver Corp (NYSE:MAG) by 24.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,233,819 shares of the industrial goods maker’s stock after buying an additional 243,238 shares during the period. MAG Silver Corp comprises approximately 0.6% of Sprott Inc.’s investment portfolio, making the stock its 23rd largest position. Sprott Inc. owned approximately 1.53% of MAG Silver Corp worth $16,089,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Van ECK Associates Corp raised its stake in shares of MAG Silver Corp by 22.5% in the first quarter. Van ECK Associates Corp now owns 9,064,891 shares of the industrial goods maker’s stock valued at $119,022,000 after buying an additional 1,662,008 shares during the last quarter. Addenda Capital Inc. purchased a new stake in shares of MAG Silver Corp during the first quarter valued at $13,144,000. FMR LLC purchased a new stake in shares of MAG Silver Corp during the fourth quarter valued at $3,611,000. Mackenzie Financial Corp raised its stake in shares of MAG Silver Corp by 69.9% in the first quarter. Mackenzie Financial Corp now owns 579,200 shares of the industrial goods maker’s stock valued at $7,605,000 after buying an additional 238,300 shares during the last quarter. Finally, Investec Asset Management LTD raised its stake in shares of MAG Silver Corp by 96.1% in the first quarter. Investec Asset Management LTD now owns 339,405 shares of the industrial goods maker’s stock valued at $4,431,000 after buying an additional 166,303 shares during the last quarter.

MAG Silver Corp (NYSE MAG) opened at 12.24 on Monday. The firm has a 50-day moving average price of $12.92 and a 200-day moving average price of $13.34. The firm’s market cap is $988.44 million. MAG Silver Corp has a 1-year low of $9.50 and a 1-year high of $18.12.

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Several brokerages recently commented on MAG. Zacks Investment Research lowered MAG Silver Corp from a “buy” rating to a “hold” rating in a research note on Thursday, July 20th. BMO Capital Markets raised MAG Silver Corp from a “market perform” rating to an “outperform” rating and decreased their price target for the company from $18.00 to $9.50 in a research note on Friday, May 26th. Two analysts have rated the stock with a hold rating, five have given a buy rating and three have given a strong buy rating to the stock. MAG Silver Corp currently has a consensus rating of “Buy” and a consensus target price of $15.25.

MAG Silver Corp Company 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.

Institutional Ownership by Quarter for MAG Silver Corp (NYSE:MAG)

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