Brokers Issue Forecasts for MAG Silver FY2024 Earnings

MAG Silver Corp. (NYSEAMERICAN:MAG) – Equities research analysts at Raymond James raised their FY2024 earnings estimates for MAG Silver in a research report issued on Thursday, January 30th. Raymond James analyst B. Macarthur now forecasts that the company will post earnings of $0.84 per share for the year, up from their prior estimate of $0.75. The consensus estimate for MAG Silver’s current full-year earnings is $0.74 per share. Raymond James also issued estimates for MAG Silver’s FY2025 earnings at $0.94 EPS.

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

Other analysts have also recently issued research reports about the company. HC Wainwright upped their price objective on MAG Silver from $20.00 to $21.00 and gave the company a “buy” rating in a research note on Thursday. Roth Mkm cut MAG Silver from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $17.00 to $17.50 in a research note on Thursday, October 24th. StockNews.com upgraded shares of MAG Silver from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Finally, Roth Capital downgraded shares of MAG Silver from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 24th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $18.63.

MAG Silver Trading Down 2.9 %

Shares of MAG stock opened at $15.80 on Monday. The stock has a market cap of $1.63 billion, a PE ratio of 22.25 and a beta of 1.08. MAG Silver has a one year low of $8.19 and a one year high of $18.27.

Hedge Funds Weigh In On MAG Silver

Several hedge funds and other institutional investors have recently modified their holdings of the company. Capital Performance Advisors LLP bought a new position in MAG Silver in the 3rd quarter worth approximately $28,000. Quantbot Technologies LP acquired a new position in MAG Silver during the 3rd quarter worth $52,000. DF Dent & Co. Inc. bought a new position in shares of MAG Silver in the third quarter worth $140,000. Pekin Hardy Strauss Inc. bought a new position in shares of MAG Silver in the third quarter worth $140,000. Finally, International Assets Investment Management LLC acquired a new position in shares of MAG Silver during the third quarter valued at $148,000. Institutional investors and hedge funds own 52.50% of the company’s stock.

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.