FY2024 EPS Estimates for MAG Silver Lifted by Roth Capital

MAG Silver Corp. (NYSEAMERICAN:MAG) – Analysts at Roth Capital lifted their FY2024 earnings estimates for shares of MAG Silver in a note issued to investors on Thursday, January 30th. Roth Capital analyst J. Reagor now anticipates that the company will post earnings per share of $0.83 for the year, up from their previous forecast of $0.80. Roth Capital currently has a “Hold” rating on the stock. The consensus estimate for MAG Silver’s current full-year earnings is $0.74 per share.

A number of other analysts also recently issued reports on MAG. Roth Mkm downgraded shares of 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. StockNews.com raised MAG Silver from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Finally, HC Wainwright lifted their price objective on MAG Silver from $20.00 to $21.00 and gave the company a “buy” rating in a 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’s stock. According to MarketBeat, MAG Silver has an average rating of “Hold” and an average price target of $18.63.

MAG Silver Trading Down 2.9 %

MAG opened at $15.80 on Monday. MAG Silver has a 1-year low of $8.19 and a 1-year high of $18.27. The firm has a market capitalization of $1.63 billion, a P/E ratio of 22.25 and a beta of 1.08.

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

Institutional Trading of MAG Silver

Large investors have recently bought and sold shares of the business. CIBC Asset Management Inc raised its holdings in shares of MAG Silver by 0.7% during the fourth quarter. CIBC Asset Management Inc now owns 114,355 shares of the company’s stock valued at $1,550,000 after purchasing an additional 755 shares during the period. Capital Performance Advisors LLP bought a new stake in MAG Silver in the 3rd quarter valued at about $28,000. Veracity Capital LLC raised its stake in MAG Silver by 16.8% during the 3rd quarter. Veracity Capital LLC now owns 16,653 shares of the company’s stock worth $234,000 after buying an additional 2,396 shares during the period. Quantbot Technologies LP bought a new position in MAG Silver in the third quarter worth approximately $52,000. Finally, DF Dent & Co. Inc. acquired a new stake in MAG Silver in the third quarter valued at approximately $140,000. 52.50% of the stock is currently owned by institutional investors and hedge funds.

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.