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

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

Other large investors have also recently bought and sold shares of the company. Quantbot Technologies LP bought a new position in MAG Silver during the third quarter worth $52,000. Pekin Hardy Strauss Inc. bought a new position in shares of MAG Silver during the 3rd quarter worth about $140,000. DF Dent & Co. Inc. acquired a new stake in shares of MAG Silver in the 3rd quarter valued at about $140,000. Aigen Investment Management LP bought a new stake in MAG Silver in the 4th quarter valued at about $156,000. Finally, Verition Fund Management LLC bought a new stake in MAG Silver in the 3rd quarter valued at about $168,000. 52.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MAG has been the subject of several recent research reports. HC Wainwright restated a “buy” rating and set a $21.00 price objective on shares of MAG Silver in a report on Tuesday, February 25th. TD Securities raised shares of MAG Silver to a “strong-buy” rating in a research report on Monday. Four research 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 company’s stock. According to MarketBeat, MAG Silver presently has an average rating of “Moderate Buy” and an average price target of $18.63.

MAG Silver Stock Up 2.1 %

MAG stock opened at $16.07 on Friday. The company has a market capitalization of $1.66 billion, a price-to-earnings ratio of 22.63 and a beta of 1.09. MAG Silver Corp. has a twelve month low of $8.94 and a twelve month high of $18.27. The firm has a 50 day moving average of $15.20.

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.