MAG Silver Corp (MAG) Shares Sold by CIBC Asset Management Inc
CIBC Asset Management Inc reduced its position in shares of MAG Silver Corp (NYSE:MAG) by 1.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 27,568 shares of the industrial goods maker’s stock after selling 421 shares during the period. CIBC Asset Management Inc’s holdings in MAG Silver Corp were worth $359,000 as of its most recent filing with the SEC.
Several other large investors have also recently modified their holdings of the stock. UBS Asset Management Americas Inc. purchased a new stake in shares of MAG Silver Corp during the fourth quarter worth $164,000. Goldman Sachs Group Inc. purchased a new stake in shares of MAG Silver Corp during the first quarter worth $242,000. Highbridge Capital Management LLC purchased a new stake in shares of MAG Silver Corp during the first quarter worth $309,000. Renaissance Technologies LLC purchased a new stake in shares of MAG Silver Corp during the fourth quarter worth $332,000. Finally, Credit Agricole S A increased its stake in shares of MAG Silver Corp by 22.4% in the first quarter. Credit Agricole S A now owns 242,400 shares of the industrial goods maker’s stock worth $3,183,000 after buying an additional 44,400 shares during the period.
Shares of MAG Silver Corp (NYSE MAG) opened at 12.97 on Thursday. The company’s market capitalization is $1.05 billion. The stock has a 50 day moving average price of $12.96 and a 200-day moving average price of $13.28. MAG Silver Corp has a one year low of $9.50 and a one year high of $18.12.
A number of brokerages have recently weighed in on MAG. Zacks Investment Research downgraded MAG Silver Corp from a “buy” rating to a “hold” rating in a report on Thursday, July 20th. BMO Capital Markets upgraded MAG Silver Corp from a “market perform” rating to an “outperform” rating and lowered their price target for the company from $18.00 to $9.50 in a report on Friday, May 26th. One analyst has rated the stock with a hold rating, five have given a buy rating and three have assigned a strong buy rating to the stock. The company has an average rating of “Buy” and an average 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.
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