Cubist Systematic Strategies LLC Acquires New Stake in MAG Silver Corp (MAG)
Cubist Systematic Strategies LLC acquired a new stake in shares of MAG Silver Corp (NYSE:MAG) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 84,428 shares of the industrial goods maker’s stock, valued at approximately $1,101,000. Cubist Systematic Strategies LLC owned about 0.10% of MAG Silver Corp as of its most recent SEC filing.
Other hedge funds have also recently bought and sold shares of the company. Quantbot Technologies LP bought a new position in MAG Silver Corp during the second quarter valued at $183,000. BlueCrest Capital Management Ltd bought a new position in MAG Silver Corp during the second quarter valued at $196,000. Sigma Planning Corp bought a new position in MAG Silver Corp during the second quarter valued at $203,000. Goldman Sachs Group Inc. bought a new position in MAG Silver Corp during the first quarter valued at $242,000. Finally, UBS Asset Management Americas Inc. increased its position in MAG Silver Corp by 50.5% during the first quarter. UBS Asset Management Americas Inc. now owns 22,359 shares of the industrial goods maker’s stock valued at $292,000 after acquiring an additional 7,500 shares during the last quarter.
Shares of MAG Silver Corp (MAG) opened at 11.68 on Friday. The stock’s market capitalization is $943.70 million. The stock’s 50 day moving average is $12.06 and its 200-day moving average is $12.51. MAG Silver Corp has a 52 week low of $9.50 and a 52 week high of $16.78.
A number of research firms have weighed in on MAG. Zacks Investment Research cut shares of MAG Silver Corp from a “buy” rating to a “hold” rating in a research report on Thursday, July 20th. Roth Capital set a $22.00 target price on shares of MAG Silver Corp and gave the company a “buy” rating in a research note on Monday, August 21st. Five research analysts have rated the stock with a buy rating and four have assigned a strong buy rating to the company’s stock. MAG Silver Corp presently has a consensus rating of “Buy” and an average target price of $16.50.
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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