Cormark Issues Pessimistic Forecast for MAG Silver Earnings

MAG Silver Corp. (TSE:MAG) (NYSEAMERICAN:MAG) – Equities researchers at Cormark decreased their FY2024 earnings per share estimates for shares of MAG Silver in a report released on Thursday, January 30th. Cormark analyst N. Dion now forecasts that the company will post earnings of $1.09 per share for the year, down from their previous forecast of $1.11. The consensus estimate for MAG Silver’s current full-year earnings is $1.22 per share. Cormark also issued estimates for MAG Silver’s FY2025 earnings at $1.11 EPS.

MAG Silver (TSE:MAG) (NYSEAMERICAN:MAG) last issued its earnings results on Tuesday, November 12th. The company reported C$0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.28 by C$0.02.

Other research analysts also recently issued reports about the company. Panmure Gordon upped their price target on MAG Silver from C$26.40 to C$27.10 in a report on Friday, November 22nd. Raymond James upped their target price on shares of MAG Silver from C$23.00 to C$26.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Roth Capital lowered shares of MAG Silver from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 24th. Stifel Nicolaus increased their price objective on shares of MAG Silver from C$25.00 to C$25.50 in a research report on Monday, November 25th. Finally, CIBC raised their target price on shares of MAG Silver from C$25.00 to C$26.00 in a report on Monday, December 2nd. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, MAG Silver presently has an average rating of “Moderate Buy” and a consensus target price of C$25.45.

MAG Silver Stock Performance

Shares of MAG opened at C$22.84 on Monday. The company has a market cap of C$2.36 billion, a price-to-earnings ratio of 28.91, a P/E/G ratio of 0.84 and a beta of 1.14. The business’s fifty day simple moving average is C$21.11 and its two-hundred day simple moving average is C$20.17. MAG Silver has a 12 month low of C$11.15 and a 12 month high of C$25.36. The company has a current ratio of 28.03, a quick ratio of 25.31 and a debt-to-equity ratio of 0.01.

Insider Activity at MAG Silver

In related news, Director George Nickolas Paspalas sold 50,024 shares of MAG Silver stock in a transaction on Thursday, December 12th. The stock was sold at an average price of C$21.87, for a total transaction of C$1,094,099.92. 0.96% of the stock is currently owned by company insiders.

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.