Cormark Weighs in on MAG Silver’s FY2024 Earnings (TSE:MAG)

MAG Silver Corp. (TSE:MAG) (NYSEAMERICAN:MAG) – Equities research analysts at Cormark raised their FY2024 earnings estimates for shares of MAG Silver in a report issued on Wednesday, November 13th. Cormark analyst N. Dion now anticipates that the company will post earnings per share of $1.11 for the year, up from their prior estimate of $1.08. The consensus estimate for MAG Silver’s current full-year earnings is $1.22 per share.

A number of other analysts have also recently weighed in on the company. BMO Capital Markets raised their price target on MAG Silver from C$24.00 to C$26.00 in a research note on Friday, October 25th. Stifel Nicolaus increased their price objective on MAG Silver from C$21.50 to C$25.00 in a report on Monday, October 21st. CIBC boosted their target price on MAG Silver from C$24.00 to C$25.00 in a research note on Wednesday. Raymond James increased their price target on shares of MAG Silver from C$23.00 to C$26.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Finally, TD Securities raised their price objective on shares of MAG Silver from C$22.00 to C$25.00 in a report on Friday, October 18th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of C$24.71.

MAG Silver Stock Performance

Shares of MAG Silver stock opened at C$21.34 on Thursday. The business has a 50-day simple moving average of C$20.76 and a 200-day simple moving average of C$18.69. The company has a market cap of C$2.20 billion, a PE ratio of 26.90, a P/E/G ratio of 0.84 and a beta of 1.14. MAG Silver has a one year low of C$11.15 and a one year high of C$25.36. The company has a debt-to-equity ratio of 0.01, a quick ratio of 25.31 and a current ratio of 28.03.

MAG Silver (TSE:MAG) (NYSEAMERICAN:MAG) last announced its quarterly earnings data on Tuesday, November 12th. The company reported C$0.30 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.28 by C$0.02.

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.