Monaco Asset Management SAM Has $3.14 Million Stake in MAG Silver Corp. (NYSEAMERICAN:MAG)

Monaco Asset Management SAM boosted its holdings in MAG Silver Corp. (NYSEAMERICAN:MAG) by 181.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 231,122 shares of the company’s stock after acquiring an additional 148,922 shares during the period. MAG Silver accounts for 0.5% of Monaco Asset Management SAM’s holdings, making the stock its 23rd biggest position. Monaco Asset Management SAM owned about 0.22% of MAG Silver worth $3,142,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the business. Barclays PLC lifted its holdings in MAG Silver by 211.5% during the 3rd quarter. Barclays PLC now owns 30,780 shares of the company’s stock worth $432,000 after purchasing an additional 20,899 shares during the last quarter. Strategic Financial Concepts LLC acquired a new stake in shares of MAG Silver during the fourth quarter worth $240,000. JPMorgan Chase & Co. boosted its position in shares of MAG Silver by 69.1% in the third quarter. JPMorgan Chase & Co. now owns 456,335 shares of the company’s stock valued at $6,407,000 after acquiring an additional 186,445 shares during the period. PCJ Investment Counsel Ltd. boosted its position in shares of MAG Silver by 38.1% in the third quarter. PCJ Investment Counsel Ltd. now owns 369,290 shares of the company’s stock valued at $5,196,000 after acquiring an additional 101,870 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of MAG Silver by 56.6% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 278,000 shares of the company’s stock valued at $3,781,000 after acquiring an additional 100,500 shares in the last quarter. Institutional investors own 52.50% of the company’s stock.

Analysts Set New Price Targets

MAG has been the subject of a number of analyst reports. TD Securities raised MAG Silver to a “strong-buy” rating in a research note on Monday. HC Wainwright reissued a “buy” rating and issued a $21.00 target price on shares of MAG Silver in a report on Tuesday, February 25th. Four analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, MAG Silver presently has a consensus rating of “Moderate Buy” and an average price target of $18.63.

MAG Silver Stock Performance

Shares of NYSEAMERICAN MAG opened at $16.07 on Friday. The firm has a market cap of $1.66 billion, a PE ratio of 22.63 and a beta of 1.09. The company has a 50 day simple moving average of $15.20. MAG Silver Corp. has a 52-week low of $8.94 and a 52-week high of $18.27.

MAG Silver Company 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.