642,367 Shares in MAG Silver Corporation $MAG Purchased by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership acquired a new stake in MAG Silver Corporation (NYSEAMERICAN:MAG) during the 2nd quarter, Holdings Channel reports. The institutional investor acquired 642,367 shares of the company’s stock, valued at approximately $13,582,000.

A number of other hedge funds also recently made changes to their positions in MAG. Rathbones Group PLC increased its holdings in shares of MAG Silver by 4.8% during the 1st quarter. Rathbones Group PLC now owns 16,957 shares of the company’s stock worth $259,000 after acquiring an additional 770 shares during the last quarter. D.A. Davidson & CO. boosted its position in MAG Silver by 9.2% during the second quarter. D.A. Davidson & CO. now owns 11,900 shares of the company’s stock worth $251,000 after purchasing an additional 1,000 shares during the period. Veracity Capital LLC boosted its position in MAG Silver by 8.5% during the second quarter. Veracity Capital LLC now owns 20,190 shares of the company’s stock worth $427,000 after purchasing an additional 1,579 shares during the period. Geode Capital Management LLC increased its holdings in shares of MAG Silver by 3.2% in the second quarter. Geode Capital Management LLC now owns 55,168 shares of the company’s stock valued at $1,177,000 after purchasing an additional 1,706 shares during the last quarter. Finally, Raymond James Financial Inc. increased its holdings in shares of MAG Silver by 0.7% in the first quarter. Raymond James Financial Inc. now owns 257,763 shares of the company’s stock valued at $3,939,000 after purchasing an additional 1,738 shares during the last quarter. 52.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently commented on MAG shares. Roth Capital reaffirmed a “neutral” rating and set a $23.00 target price (up previously from $22.00) on shares of MAG Silver in a report on Tuesday, August 12th. Scotiabank restated an “outperform” rating on shares of MAG Silver in a report on Tuesday, August 12th. Two investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, MAG Silver currently has a consensus rating of “Hold” and a consensus price target of $21.00.

MAG Silver Trading Down 1.2%

Shares of MAG opened at $24.47 on Tuesday. MAG Silver Corporation has a 12 month low of $11.72 and a 12 month high of $25.09. The firm’s 50 day moving average is $24.47 and its 200-day moving average is $23.01. The stock has a market capitalization of $2.54 billion, a PE ratio of 24.72 and a beta of 0.73.

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.