Today: The 10.2% Stake of MAG Silver Corp (MVG) Owned by VAN ECK ASSOCIATES CORP Total Shares: 8,164,759

The 10.2% Stake of MAG Silver Corp (MVG) Owned by    VAN ECK ASSOCIATES CORP    Total Shares:  8,164,759

VAN ECK ASSOCIATES CORP

Total Shares:

8,164,759

recently disclosed that they own 10.2% of MAG Silver Corp (NYSE:MVG) in a Schedule 13G disclosure that was filed with the Securities and Exchange Commission on Friday, October 7th. The investor owns 8,164,759 shares of the stock valued at $102,222,783. The filing is available through Edgar at this link.

Other hedge funds have also modified their holdings of the company. Shell Asset Management Co. raised its position in MAG Silver Corp by 36.5% in the second quarter. Shell Asset Management Co. now owns 7,856 shares of the company’s stock worth $128,000 after buying an additional 2,100 shares during the period. A.R.T. Advisors LLC bought a new position in shares of MAG Silver Corp during the second quarter worth $128,000. Citadel Advisors LLC bought a new position in shares of MAG Silver Corp during the second quarter worth $141,000. CIBC World Markets Inc. bought a new position in shares of MAG Silver Corp during the second quarter worth $189,000. Finally, Vanguard Group Inc. increased its position in shares of MAG Silver Corp by 0.7% in the second quarter. Vanguard Group Inc. now owns 17,132 shares of the company’s stock worth $216,000 after buying an additional 116 shares in the last quarter.

MAG Silver Corp (NYSE:MVG) remained flat at $12.52 during trading on Friday. MAG Silver Corp has a 1-year low of $6.12 and a 1-year high of $14.40. The firm’s 50-day moving average is $13.00 and its 200-day moving average is $9.54.

A number of brokerages have weighed in on MVG. Roth Capital reaffirmed a “buy” rating on shares of MAG Silver Corp in a research note on Thursday. TD Securities reaffirmed a “hold” rating and issued a $21.00 target price on shares of MAG Silver Corp in a research note on Friday, September 23rd. Canaccord Genuity raised shares of MAG Silver Corp from a “hold” rating to a “buy” rating in a research note on Monday. Finally, Desjardins reaffirmed a “hold” rating on shares of MAG Silver Corp in a research note on Wednesday, June 22nd. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $18.83.

About MAG Silver Corp

MAG Silver Corp. is a mineral exploration and development company. The Company is focused on the acquisition, exploration and development of projects located within the Mexican silver belt. The Company operates through the exploration of mineral properties in Mexico segment. The Company’s projects include Juanicipio Property, Cinco De Mayo Property and Guigui Property.

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