HC Wainwright Increases Earnings Estimates for MAG Silver

MAG Silver Corp. (NYSEAMERICAN:MAG) – HC Wainwright boosted their FY2024 EPS estimates for shares of MAG Silver in a research note issued to investors on Wednesday, November 13th. HC Wainwright analyst H. Ihle now forecasts that the company will earn $0.74 per share for the year, up from their previous estimate of $0.67. HC Wainwright has a “Buy” rating and a $20.00 price objective on the stock. The consensus estimate for MAG Silver’s current full-year earnings is $0.71 per share. HC Wainwright also issued estimates for MAG Silver’s FY2025 earnings at $0.75 EPS.

MAG Silver (NYSEAMERICAN:MAG) last announced its quarterly earnings results on Tuesday, November 12th. The company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.20 by $0.02.

A number of other equities analysts have also commented on MAG. StockNews.com upgraded MAG Silver from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Roth Capital downgraded MAG Silver from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 24th. Roth Mkm cut MAG Silver from a “buy” rating to a “neutral” rating and increased their price objective for the company from $17.00 to $17.50 in a research report on Thursday, October 24th. Finally, Scotiabank boosted their target price on shares of MAG Silver from $14.50 to $15.50 and gave the stock a “sector outperform” rating in a research report on Monday, August 19th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $18.38.

MAG Silver Trading Up 2.9 %

Shares of MAG stock opened at $15.19 on Thursday. The company has a market capitalization of $1.57 billion, a P/E ratio of 20.82 and a beta of 1.12. MAG Silver has a twelve month low of $8.19 and a twelve month high of $18.27.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Capital Performance Advisors LLP bought a new position in MAG Silver in the 3rd quarter valued at $28,000. Perritt Capital Management Inc. bought a new position in MAG Silver in the first quarter valued at about $26,000. Quantbot Technologies LP bought a new position in MAG Silver in the third quarter valued at about $52,000. Pekin Hardy Strauss Inc. bought a new stake in MAG Silver during the 3rd quarter worth about $140,000. Finally, Addenda Capital Inc. acquired a new position in MAG Silver during the 2nd quarter valued at about $123,000. 52.50% of the stock is owned by institutional investors.

MAG Silver Company Profile

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.