First Eagle Investment Management LLC Has $106.38 Million Position in MAG Silver Corp. (NYSEAMERICAN:MAG)

First Eagle Investment Management LLC grew its holdings in MAG Silver Corp. (NYSEAMERICAN:MAG) by 46.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 7,839,793 shares of the company’s stock after purchasing an additional 2,486,538 shares during the quarter. First Eagle Investment Management LLC owned about 7.58% of MAG Silver worth $106,379,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Quantbot Technologies LP acquired a new position in shares of MAG Silver during the third quarter valued at $52,000. Pekin Hardy Strauss Inc. acquired a new position in shares of MAG Silver during the third quarter valued at $140,000. DF Dent & Co. Inc. acquired a new position in shares of MAG Silver during the third quarter valued at $140,000. Aigen Investment Management LP acquired a new position in shares of MAG Silver during the fourth quarter valued at $156,000. Finally, Verition Fund Management LLC acquired a new position in shares of MAG Silver during the third quarter valued at $168,000. Institutional investors and hedge funds own 52.50% of the company’s stock.

MAG Silver Stock Up 2.1 %

Shares of MAG Silver stock opened at $16.07 on Friday. MAG Silver Corp. has a 1 year low of $8.94 and a 1 year high of $18.27. The stock has a 50-day simple moving average of $15.20. The company has a market capitalization of $1.66 billion, a P/E ratio of 22.63 and a beta of 1.09.

Analyst Upgrades and Downgrades

Several research firms have weighed in on MAG. HC Wainwright reissued a “buy” rating and issued a $21.00 target price on shares of MAG Silver in a research note on Tuesday, February 25th. TD Securities raised MAG Silver to a “strong-buy” rating in a research note on Monday. Four investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $18.63.

MAG Silver Profile

MAG Silver Corp. develops and explores for precious metal properties in Canada. It explores for silver, gold, lead, copper, and zinc deposits. The company's flagship property is the 44% owned Juanicipio property located in the Fresnillo District, Zacatecas State, Mexico. MAG Silver Corp. is headquartered in Vancouver, Canada.