Spark Investment Management LLC Invests $425,000 in MAG Silver Corporation $MAG

Spark Investment Management LLC purchased a new stake in shares of MAG Silver Corporation (NYSEAMERICAN:MAG) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 20,000 shares of the company’s stock, valued at approximately $425,000. MAG Silver makes up approximately 1.2% of Spark Investment Management LLC’s holdings, making the stock its 17th biggest holding.

Several other hedge funds have also recently bought and sold shares of MAG. Banque Cantonale Vaudoise purchased a new position in MAG Silver during the 1st quarter valued at about $37,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of MAG Silver in the second quarter worth approximately $53,000. Mark Sheptoff Financial Planning LLC acquired a new stake in shares of MAG Silver during the second quarter worth approximately $71,000. Northwest & Ethical Investments L.P. grew its position in MAG Silver by 39.3% during the first quarter. Northwest & Ethical Investments L.P. now owns 8,178 shares of the company’s stock valued at $124,000 after purchasing an additional 2,308 shares in the last quarter. Finally, Everett Harris & Co. CA acquired a new position in MAG Silver in the 1st quarter valued at approximately $177,000. 52.50% of the stock is owned by hedge funds and other institutional investors.

MAG Silver Stock Performance

MAG opened at $24.47 on Wednesday. The company has a market cap of $2.54 billion, a PE ratio of 24.72 and a beta of 0.73. The stock has a 50-day moving average of $24.47 and a 200-day moving average of $22.30. MAG Silver Corporation has a 52-week low of $11.72 and a 52-week high of $25.09.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on MAG shares. Scotiabank reissued an “outperform” rating on shares of MAG Silver in a research note on Tuesday, August 12th. Roth Capital reissued a “neutral” rating and set a $23.00 price objective (up previously from $22.00) on shares of MAG Silver in a research report on Tuesday, August 12th. Finally, HC Wainwright restated a “neutral” rating and issued a $22.00 target price on shares of MAG Silver in a research note on Thursday, July 24th. Two analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $21.00.

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.