Swiss National Bank continued to hold its position in MAG Silver Corp (NYSE:MVG) during the second quarter, Holdings Channel reports. The fund owned 117,100 shares of the company’s stock at the end of the second quarter. Swiss National Bank’s holdings in MAG Silver Corp were worth $1,469,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. CIBC World Markets Inc. acquired a new position in MAG Silver Corp during the second quarter worth about $189,000. Shell Asset Management Co. boosted its position in MAG Silver Corp by 36.5% in the second quarter. Shell Asset Management Co. now owns 7,856 shares of the company’s stock worth $128,000 after buying an additional 2,100 shares in the last quarter. Essex Investment Management Co. LLC acquired a new position in MAG Silver Corp during the second quarter worth about $2,351,000. Finally, CIBC Asset Management Inc acquired a new position in MAG Silver Corp during the second quarter worth about $382,000.
MAG Silver Corp (NYSE:MVG) remained flat at $12.52 during mid-day trading on Wednesday. The stock’s 50 day moving average is $13.00 and its 200-day moving average is $9.54. MAG Silver Corp has a one year low of $6.12 and a one year high of $14.40.
A number of research analysts have issued reports on MVG shares. Zacks Investment Research upgraded MAG Silver Corp from a “hold” rating to a “buy” rating and set a $15.00 target price on the stock in a research report on Tuesday, June 7th. Canaccord Genuity reiterated a “buy” rating and issued a $20.50 target price on shares of MAG Silver Corp in a research report on Monday, June 20th. Desjardins reiterated a “hold” rating on shares of MAG Silver Corp in a research report on Wednesday, June 22nd. Finally, TD Securities cut MAG Silver Corp to a “hold” rating and set a $21.00 target price on the stock. in a research report on Wednesday, June 29th.
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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