Roth Capital Decreases Earnings Estimates for MAG Silver

MAG Silver Corp. (NYSEAMERICAN:MAG) – Stock analysts at Roth Capital dropped their FY2024 earnings per share (EPS) estimates for MAG Silver in a research report issued to clients and investors on Tuesday, November 12th. Roth Capital analyst J. Reagor now forecasts that the company will earn $0.80 per share for the year, down from their prior forecast of $0.86. Roth Capital currently has a “Hold” rating on the stock. The consensus estimate for MAG Silver’s current full-year earnings is $0.72 per share.

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

MAG Silver Price Performance

Shares of NYSEAMERICAN:MAG opened at $14.90 on Friday. MAG Silver has a 52-week low of $8.19 and a 52-week high of $18.27. The company has a market capitalization of $1.54 billion, a PE ratio of 20.99 and a beta of 1.12.

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

Hedge Funds Weigh In On MAG Silver

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MAG. Barclays PLC lifted its stake in MAG Silver by 211.5% during the 3rd quarter. Barclays PLC now owns 30,780 shares of the company’s stock valued at $432,000 after acquiring an additional 20,899 shares during the period. Public Employees Retirement System of Ohio purchased a new position in shares of MAG Silver during the third quarter valued at approximately $390,000. DF Dent & Co. Inc. bought a new position in MAG Silver during the third quarter valued at approximately $140,000. National Bank of Canada FI lifted its position in MAG Silver by 12.0% during the third quarter. National Bank of Canada FI now owns 225,802 shares of the company’s stock valued at $3,171,000 after purchasing an additional 24,185 shares during the period. Finally, Verition Fund Management LLC purchased a new stake in MAG Silver in the third quarter worth approximately $168,000. 52.50% of the stock is owned by institutional investors.

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.