Skandinaviska Enskilda Banken AB publ Makes New Investment in MAG Silver Corporation $MAG

Skandinaviska Enskilda Banken AB publ acquired a new stake in shares of MAG Silver Corporation (NYSEAMERICAN:MAG) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 201,289 shares of the company’s stock, valued at approximately $4,253,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Alpine Associates Management Inc. acquired a new stake in MAG Silver during the 2nd quarter worth approximately $53,779,000. Grantham Mayo Van Otterloo & Co. LLC bought a new stake in shares of MAG Silver during the second quarter worth $20,261,000. Credit Industriel ET Commercial acquired a new stake in shares of MAG Silver during the second quarter worth $15,169,000. KRYGER CAPITAL Ltd bought a new stake in MAG Silver in the 2nd quarter valued at $11,854,000. Finally, Alberta Investment Management Corp boosted its stake in MAG Silver by 628.9% in the 2nd quarter. Alberta Investment Management Corp now owns 605,000 shares of the company’s stock worth $12,784,000 after purchasing an additional 522,000 shares during the period. 52.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have commented on MAG shares. Scotiabank reissued an “outperform” rating on shares of MAG Silver in a research report on Tuesday, August 12th. Roth Capital reiterated 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. Two research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, MAG Silver has an average rating of “Hold” and an average price target of $21.00.

MAG Silver Stock Down 1.2%

MAG Silver stock opened at $24.47 on Tuesday. The company’s 50-day moving average price is $24.47 and its two-hundred day moving average price is $22.80. The stock has a market cap of $2.54 billion, a P/E ratio of 24.72 and a beta of 0.73. MAG Silver Corporation has a twelve month low of $11.72 and a twelve month high of $25.09.

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.