01:16:26 EDT Fri 26 Apr 2024
Enter Symbol
or Name
USA
CA



Magna International Inc
Symbol MG
Shares Issued 211,920,143
Close 2014-10-09 C$ 102.92
Market Cap C$ 21,810,821,118
Recent Sedar Documents

FP says Magna International a top holding at Aston Hill

2014-10-10 09:13 ET - In the News

The Financial Post reports in its Friday, Oct. 10, edition that Aston Hill Financial Asset Management manager John Kim recommends buying Magna International ($102.92). The Post's Jonathan Ratner writes in the Buy & Sell column that Magna is one of Mr. Kim's top holdings in the fund he manages, the Aston Hill Total Return Fund. Mr. Kim says Magna is trading at a very low multiple following the recent market decline. Mr. Kim says: "There is a lot of value to be had. ... Magna has exposure to German automakers, who export a lot into China. With the corruption crackdown there, sales of luxury autos have weakened." However, Mr. Kim notes that Magna has self-help opportunities such as the continuing turnaround in its European operations, as well as a similar opportunity in Brazil. He says the stock could be hurt if a Chinese corruption crackdown continues. He also says a European recession could negatively weigh on Magna shares. Arrow Capital manager Veronika Hirsch said she liked Magna in the Post on April 9, when it could be had for $106.40. The Post reported on April 25, 2014, Barometer Capital manager David Burrows's recommendation to buy Magna. The shares could then be had for $110.90.

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