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

CIBC Asset Management Inc grew its stake in MAG Silver Corp. (NYSEAMERICAN:MAG) by 0.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 114,355 shares of the company’s stock after acquiring an additional 755 shares during the period. CIBC Asset Management Inc owned 0.11% of MAG Silver worth $1,550,000 as of its most recent filing with the Securities and Exchange Commission.

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

MAG Silver Price Performance

MAG stock opened at $15.76 on Friday. The stock has a market cap of $1.63 billion, a price-to-earnings ratio of 22.20 and a beta of 1.09. MAG Silver Corp. has a 1 year low of $8.19 and a 1 year high of $18.27.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright lifted their price objective on MAG Silver from $20.00 to $21.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, MAG Silver has an average rating of “Hold” and an average target price of $18.63.

About MAG Silver

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.