International Assets Investment Management LLC Invests $148,000 in MAG Silver Corp. (NYSEAMERICAN:MAG)

International Assets Investment Management LLC acquired a new position in shares of MAG Silver Corp. (NYSEAMERICAN:MAG) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 10,530 shares of the company’s stock, valued at approximately $148,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Perritt Capital Management Inc. purchased a new stake in MAG Silver in the first quarter worth approximately $26,000. Addenda Capital Inc. purchased a new stake in shares of MAG Silver in the 2nd quarter valued at $123,000. Susquehanna Fundamental Investments LLC purchased a new stake in shares of MAG Silver in the 2nd quarter valued at $161,000. Veracity Capital LLC grew its holdings in shares of MAG Silver by 16.8% during the 3rd quarter. Veracity Capital LLC now owns 16,653 shares of the company’s stock valued at $234,000 after purchasing an additional 2,396 shares during the last quarter. Finally, Cubist Systematic Strategies LLC raised its position in MAG Silver by 304.8% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 25,569 shares of the company’s stock worth $299,000 after purchasing an additional 19,253 shares during the period. 52.50% of the stock is currently owned by hedge funds and other institutional investors.

MAG Silver Price Performance

NYSEAMERICAN MAG opened at $16.65 on Friday. The company has a market capitalization of $1.72 billion, a price-to-earnings ratio of 28.43 and a beta of 1.12. MAG Silver Corp. has a fifty-two week low of $8.19 and a fifty-two week high of $18.27.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. StockNews.com upgraded shares of MAG Silver from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Scotiabank raised their price target on MAG Silver from $14.50 to $15.50 and gave the stock a “sector outperform” rating in a research report on Monday, August 19th. HC Wainwright lifted their price target on MAG Silver from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Roth Mkm lowered MAG Silver from a “buy” rating to a “neutral” rating and increased their price objective for the company from $17.00 to $17.50 in a research note on Thursday, October 24th. Finally, Roth Capital downgraded shares of MAG Silver from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 24th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, MAG Silver has an average rating of “Hold” and an average target price of $17.88.

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.