Raymond James Has Bullish Outlook for MAG Silver Q3 Earnings

MAG Silver Corp. (NYSEAMERICAN:MAG) – Equities researchers at Raymond James increased their Q3 2024 earnings per share (EPS) estimates for MAG Silver in a research note issued to investors on Thursday, October 24th. Raymond James analyst B. Macarthur now forecasts that the company will earn $0.24 per share for the quarter, up from their previous forecast of $0.20. The consensus estimate for MAG Silver’s current full-year earnings is $0.69 per share. Raymond James also issued estimates for MAG Silver’s FY2024 earnings at $0.77 EPS.

MAG Silver (NYSEAMERICAN:MAG) last issued its quarterly earnings results on Friday, August 2nd. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.02.

A number of other research firms have also weighed in on MAG. Scotiabank raised their price objective 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. HC Wainwright lifted their price target on MAG Silver from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Monday, August 5th. StockNews.com raised MAG Silver from a “sell” rating to a “hold” rating in a research note on Thursday. Roth Mkm cut MAG Silver from a “buy” rating to a “neutral” rating and lifted their target price for the company from $17.00 to $17.50 in a research report on Thursday. Finally, Roth Capital lowered MAG Silver from a “strong-buy” rating to a “hold” rating in a research report on Thursday. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $17.88.

MAG Silver Price Performance

Shares of MAG Silver stock opened at $17.43 on Monday. The stock has a market capitalization of $1.80 billion, a P/E ratio of 30.05 and a beta of 1.15. MAG Silver has a one year low of $8.19 and a one year high of $18.01.

Institutional Investors Weigh In On MAG Silver

Hedge funds and other institutional investors have recently bought and sold shares of the business. International Assets Investment Management LLC bought a new stake in shares of MAG Silver during the third quarter valued at about $148,000. Veracity Capital LLC lifted its stake in MAG Silver by 16.8% in the 3rd quarter. Veracity Capital LLC now owns 16,653 shares of the company’s stock worth $234,000 after purchasing an additional 2,396 shares in the last quarter. Cubist Systematic Strategies LLC boosted its holdings in MAG Silver by 304.8% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 25,569 shares of the company’s stock valued at $299,000 after purchasing an additional 19,253 shares during the period. Susquehanna Fundamental Investments LLC purchased a new position in shares of MAG Silver during the 2nd quarter valued at $161,000. Finally, Mackenzie Financial Corp increased its holdings in shares of MAG Silver by 310.5% in the second quarter. Mackenzie Financial Corp now owns 190,385 shares of the company’s stock worth $2,224,000 after purchasing an additional 144,007 shares during the period. Institutional investors own 52.50% of the company’s stock.

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.