Analysts Issue Forecasts for MAG Silver FY2024 Earnings

MAG Silver Corp. (NYSEAMERICAN:MAG) – Equities research analysts at National Bank Financial raised their FY2024 earnings per share estimates for MAG Silver in a report issued on Thursday, November 28th. National Bank Financial analyst D. Demarco now expects that the company will post earnings per share of $0.80 for the year, up from their previous estimate of $0.65. The consensus estimate for MAG Silver’s current full-year earnings is $0.75 per share. National Bank Financial also issued estimates for MAG Silver’s Q4 2024 earnings at $0.20 EPS.

MAG has been the subject of a number of other reports. Roth Capital downgraded shares of MAG Silver from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 24th. StockNews.com raised MAG Silver from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Roth Mkm downgraded shares of MAG Silver from a “buy” rating to a “neutral” rating and upped their price objective for the company from $17.00 to $17.50 in a report on Thursday, October 24th. HC Wainwright boosted their target price on shares of MAG Silver from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Finally, Scotiabank upped their price target on shares of MAG Silver from $14.50 to $15.50 and gave the company a “sector outperform” rating in a research note on Monday, August 19th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $18.38.

MAG Silver Price Performance

Shares of MAG opened at $15.37 on Monday. The company has a market capitalization of $1.59 billion, a PE ratio of 21.65 and a beta of 1.12. MAG Silver has a fifty-two week low of $8.19 and a fifty-two week high of $18.27.

MAG Silver (NYSEAMERICAN:MAG) last issued its earnings results on Tuesday, November 12th. The company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.02.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in MAG. Capital Performance Advisors LLP purchased a new position in MAG Silver in the 3rd quarter valued at about $28,000. Quantbot Technologies LP purchased a new position in shares of MAG Silver in the third quarter valued at approximately $52,000. Addenda Capital Inc. acquired a new stake in shares of MAG Silver in the second quarter worth approximately $123,000. Pekin Hardy Strauss Inc. purchased a new stake in shares of MAG Silver during the third quarter worth approximately $140,000. Finally, DF Dent & Co. Inc. purchased a new stake in shares of MAG Silver during the third quarter worth approximately $140,000. 52.50% of the stock is owned by institutional investors and hedge funds.

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.