A system for tracking a moving magnetic target uses a magnetic anomaly sensing system to continually determine magnetic gradient tensors associated with the target and converts the magnetic gradient tensors to gradient contraction scalars. A processor uses the magnetic gradient tensors and gradient contraction scalars to determine a minimum of bearing and range to the target. A velocity of the target is determined using the determined bearing and range at two points in time as the target is moving. To continually track with the moving target, the processor determines adjustments in elevation and azimuth using the magnetic gradient tensors and gradient contraction scalars along with bearing, range and determined velocities of the target. The processor can include a routine that determines range while accounting for asphericity errors introduced by the aspherical nature of constant magnetic gradient contours associated with the target.