Analysts Offer Predictions for MAG Silver FY2024 Earnings

MAG Silver Corp. (NYSEAMERICAN:MAG) – Stock analysts at Scotiabank dropped their FY2024 earnings per share (EPS) estimates for MAG Silver in a research note issued on Wednesday, January 8th. Scotiabank analyst O. Habib now anticipates that the company will earn $0.54 per share for the year, down from their previous forecast of $0.55. The consensus estimate for MAG Silver’s current full-year earnings is $0.75 per share. Scotiabank also issued estimates for MAG Silver’s FY2025 earnings at $0.51 EPS and FY2026 earnings at $0.48 EPS.

A number of other research analysts have also weighed in on the company. HC Wainwright increased their price objective on MAG Silver from $18.00 to $20.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Roth Capital lowered shares of MAG Silver from a “strong-buy” 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. Finally, StockNews.com upgraded shares of MAG Silver from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, MAG Silver presently has a consensus rating of “Hold” and a consensus price target of $18.38.

MAG Silver Price Performance

NYSEAMERICAN:MAG opened at $14.04 on Monday. MAG Silver has a 52 week low of $8.19 and a 52 week high of $18.27. The company has a market cap of $1.45 billion, a P/E ratio of 19.77 and a beta of 1.07.

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

Institutional Investors Weigh In On MAG Silver

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MAG. Capital Performance Advisors LLP acquired a new position in shares of MAG Silver in the 3rd quarter worth approximately $28,000. Quantbot Technologies LP acquired a new position in MAG Silver during the third quarter worth $52,000. Pekin Hardy Strauss Inc. purchased a new position in shares of MAG Silver during the third quarter worth $140,000. DF Dent & Co. Inc. purchased a new stake in shares of MAG Silver in the 3rd quarter valued at $140,000. Finally, International Assets Investment Management LLC purchased a new stake in shares of MAG Silver in the 3rd quarter valued at $148,000. Institutional investors and hedge funds 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.