CIBC Asset Management Inc Has $1.55 Million Stake in MAG Silver Corp. (NYSEAMERICAN:MAG)

CIBC Asset Management Inc raised its position in MAG Silver Corp. (NYSEAMERICAN:MAG) by 0.7% in the fourth quarter, HoldingsChannel.com reports. The fund owned 114,355 shares of the company’s stock after purchasing an additional 755 shares during the quarter. CIBC Asset Management Inc’s holdings in MAG Silver were worth $1,550,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Capital Performance Advisors LLP acquired a new position in shares of MAG Silver during the 3rd quarter worth approximately $28,000. Quantbot Technologies LP acquired a new stake in MAG Silver during the 3rd quarter valued at $52,000. DF Dent & Co. Inc. bought a new position in MAG Silver during the third quarter worth $140,000. Pekin Hardy Strauss Inc. acquired a new position in shares of MAG Silver in the third quarter valued at $140,000. Finally, International Assets Investment Management LLC bought a new position in shares of MAG Silver in the third quarter valued at about $148,000. Institutional investors own 52.50% of the company’s stock.

Wall Street Analyst Weigh In

Separately, HC Wainwright lifted their target price on shares of MAG Silver from $20.00 to $21.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $18.63.

MAG Silver Price Performance

Shares of MAG Silver stock opened at $15.76 on Friday. MAG Silver Corp. has a 52-week low of $8.19 and a 52-week high of $18.27. The stock has a market capitalization of $1.63 billion, a PE ratio of 22.20 and a beta of 1.09.

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.