Raymond James Reduces Earnings Estimates for MAG Silver

MAG Silver Corp. (TSE:MAG) (NYSEAMERICAN:MAG) – Equities researchers at Raymond James reduced their FY2024 earnings per share estimates for shares of MAG Silver in a note issued to investors on Wednesday, November 13th. Raymond James analyst B. Macarthur now expects that the company will post earnings per share of $1.04 for the year, down from their previous forecast of $1.06. Raymond James has a “Outperform” rating and a $26.00 price target on the stock. The consensus estimate for MAG Silver’s current full-year earnings is $1.22 per share.

A number of other research firms also recently weighed in on MAG. Stifel Nicolaus upped their target price on MAG Silver from C$21.50 to C$25.00 in a report on Monday, October 21st. Roth Capital cut shares of MAG Silver from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 24th. TD Securities boosted their price objective on shares of MAG Silver from C$22.00 to C$25.00 in a research note on Friday, October 18th. CIBC lifted their target price on shares of MAG Silver from C$24.00 to C$25.00 in a report on Wednesday, November 13th. Finally, BMO Capital Markets lifted their price objective on MAG Silver from C$24.00 to C$26.00 in a research note on Friday, October 25th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of C$24.71.

MAG Silver Price Performance

MAG opened at C$21.07 on Monday. 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 has a 52-week low of C$11.15 and a 52-week high of C$25.36. The stock has a market capitalization of C$2.17 billion, a PE ratio of 26.67, a price-to-earnings-growth ratio of 0.84 and a beta of 1.14. The stock’s 50 day moving average price is C$20.92 and its 200-day moving average price is C$18.74.

MAG Silver (TSE:MAG) (NYSEAMERICAN:MAG) last announced its quarterly earnings results on Tuesday, November 12th. The company reported C$0.30 earnings per share (EPS) 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.