Loews Corp Has $2,079,000 Position in MAG Silver Corp (MAG)
Loews Corp continued to hold its position in MAG Silver Corp (NYSE:MAG) during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 159,203 shares of the industrial goods maker’s stock at the end of the 2nd quarter. Loews Corp owned about 0.20% of MAG Silver Corp worth $2,079,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in MAG. UBS Asset Management Americas Inc. bought a new stake in shares of MAG Silver Corp during the fourth quarter worth $164,000. Sigma Planning Corp bought a new stake in shares of MAG Silver Corp during the second quarter worth $203,000. Goldman Sachs Group Inc. bought a new stake in shares of MAG Silver Corp during the first quarter worth $242,000. Highbridge Capital Management LLC bought a new stake in shares of MAG Silver Corp during the first quarter worth $309,000. Finally, GRT Capital Partners L.L.C. raised its position in shares of MAG Silver Corp by 32.1% during the second quarter. GRT Capital Partners L.L.C. now owns 23,842 shares of the industrial goods maker’s stock worth $311,000 after acquiring an additional 5,800 shares during the last quarter.
A number of equities research analysts have recently weighed in on MAG shares. Roth Capital set a $22.00 target price on MAG Silver Corp and gave the stock a “buy” rating in a research report on Monday, August 21st. Zacks Investment Research upgraded MAG Silver Corp from a “hold” rating to a “buy” rating and set a $15.00 target price for the company in a research report on Wednesday, July 19th. Finally, BMO Capital Markets upgraded MAG Silver Corp from a “market perform” rating to an “outperform” rating and dropped their target price for the stock from $18.00 to $9.50 in a research report on Friday, May 26th. Five analysts have rated the stock with a buy rating and four have assigned a strong buy rating to the company. MAG Silver Corp currently has a consensus rating of “Buy” and a consensus price target of $16.50.
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MAG Silver Corp (NYSE:MAG) traded down 1.13% during midday trading on Friday, hitting $12.24. The stock had a trading volume of 98,468 shares. The company’s market capitalization is $988.94 million. The company’s 50-day moving average price is $12.71 and its 200 day moving average price is $12.86. MAG Silver Corp has a 52 week low of $9.50 and a 52 week high of $17.35.
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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