Connor Clark & Lunn Investment Management Ltd. Has $21.29 Million Stake in MAG Silver Corporation (NYSEAMERICAN:MAG)

Key Points

• Connor Clark & Lunn Investment Management Ltd. increased its stake in MAG Silver Corporation by 20.5% in the first quarter, holding 1,399,405 shares valued at approximately $21.29 million.
• During the same period, several other institutional investors made significant changes to their positions in MAG Silver, with notable increases from PCJ Investment Counsel Ltd. and Monaco Asset Management SAM.
• Analysts have varied opinions on MAG Silver, with a consensus rating of "Hold" and an average price target of $19.38, reflecting a mix of upgraded and downgraded ratings from multiple financial institutions.

Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of MAG Silver Corporation (NYSEAMERICAN:MAG - Free Report) by 20.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,399,405 shares of the company's stock after acquiring an additional 237,800 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 1.35% of MAG Silver worth $21,290,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Everett Harris & Co. CA acquired a new position in MAG Silver in the first quarter worth $177,000. PCJ Investment Counsel Ltd. raised its holdings in shares of MAG Silver by 40.0% in the first quarter. PCJ Investment Counsel Ltd. now owns 391,930 shares of the company's stock valued at $5,963,000 after buying an additional 111,950 shares during the last quarter. Monaco Asset Management SAM lifted its position in MAG Silver by 127.6% during the 1st quarter. Monaco Asset Management SAM now owns 526,000 shares of the company's stock worth $8,034,000 after buying an additional 294,878 shares in the last quarter. Banque Cantonale Vaudoise acquired a new position in MAG Silver during the 1st quarter worth about $37,000. Finally, Mackenzie Financial Corp grew its holdings in MAG Silver by 58.7% during the 1st quarter. Mackenzie Financial Corp now owns 521,795 shares of the company's stock worth $7,937,000 after acquiring an additional 192,991 shares during the last quarter. 52.50% of the stock is owned by institutional investors.

Analyst Ratings Changes

MAG has been the topic of a number of research reports. Roth Capital upped their target price on shares of MAG Silver from $18.00 to $21.00 and gave the company a "neutral" rating in a research report on Tuesday, July 1st. Canaccord Genuity Group lowered shares of MAG Silver from a "strong-buy" rating to a "hold" rating in a report on Monday, May 12th. TD Securities lowered shares of MAG Silver from a "strong-buy" rating to a "strong sell" rating in a report on Thursday, May 22nd. Scotiabank reiterated a "sector perform" rating on shares of MAG Silver in a research report on Monday, April 14th. Finally, HC Wainwright restated a "neutral" rating and issued a $22.00 price target on shares of MAG Silver in a research report on Thursday, July 24th. One analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $19.38.

MAG Silver Price Performance

Shares of MAG opened at $23.15 on Friday. The company has a market cap of $2.40 billion, a PE ratio of 26.31 and a beta of 0.69. The firm has a 50-day moving average of $21.35 and a 200-day moving average of $17.48. MAG Silver Corporation has a one year low of $11.72 and a one year high of $23.25.

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.

Want to see what other hedge funds are holding MAG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MAG Silver Corporation (NYSEAMERICAN:MAG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.