National Bank Financial Weighs in on MAG Silver Q4 Earnings

MAG Silver Corp. (NYSEAMERICAN:MAG) – Investment analysts at National Bank Financial increased their Q4 2024 earnings per share (EPS) estimates for shares of MAG Silver in a report issued on Monday, February 10th. National Bank Financial analyst D. Demarco now expects that the company will post earnings per share of $0.23 for the quarter, up from their previous forecast of $0.20. The consensus estimate for MAG Silver’s current full-year earnings is $0.75 per share.

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

A number of other equities analysts also recently issued reports on the company. Roth Capital downgraded MAG Silver from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 24th. HC Wainwright lifted their target price on MAG Silver from $20.00 to $21.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Roth Mkm downgraded MAG Silver from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $17.00 to $17.50 in a report on Thursday, October 24th. Finally, StockNews.com upgraded MAG Silver from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, MAG Silver has a consensus rating of “Hold” and an average target price of $18.63.

MAG Silver Trading Up 1.1 %

Shares of MAG stock opened at $17.10 on Wednesday. MAG Silver has a 12 month low of $8.19 and a 12 month high of $18.27. The stock has a market cap of $1.77 billion, a PE ratio of 24.08 and a beta of 1.09.

Hedge Funds Weigh In On MAG Silver

A number of institutional investors and hedge funds have recently modified their holdings of MAG. Cubist Systematic Strategies LLC boosted its stake in shares of MAG Silver by 304.8% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 25,569 shares of the company’s stock worth $299,000 after buying an additional 19,253 shares during the last quarter. Veracity Capital LLC lifted its position in MAG Silver by 16.8% during the third quarter. Veracity Capital LLC now owns 16,653 shares of the company’s stock valued at $234,000 after purchasing an additional 2,396 shares in the last quarter. International Assets Investment Management LLC purchased a new position in MAG Silver during the third quarter valued at $148,000. Van ECK Associates Corp lifted its position in MAG Silver by 4.8% during the third quarter. Van ECK Associates Corp now owns 10,231,410 shares of the company’s stock valued at $143,649,000 after purchasing an additional 467,817 shares in the last quarter. Finally, Capital Performance Advisors LLP purchased a new position in MAG Silver during the third quarter valued at $28,000. 52.50% of the stock is currently owned by hedge funds and other institutional investors.

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.