FY2024 EPS Estimates for MAG Silver Reduced by Analyst

MAG Silver Corp. (NYSEAMERICAN:MAG) – Investment analysts at National Bank Financial decreased their FY2024 earnings per share estimates for shares of MAG Silver in a report issued on Monday, February 10th. National Bank Financial analyst D. Demarco now forecasts that the company will post earnings per share of $0.65 for the year, down from their previous estimate of $0.80. The consensus estimate for MAG Silver’s current full-year earnings is $0.75 per share. National Bank Financial also issued estimates for MAG Silver’s FY2025 earnings at $0.52 EPS.

Other equities research analysts have also recently issued reports about the company. Roth Mkm cut 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 research note on Thursday, October 24th. HC Wainwright lifted their target price on MAG Silver from $20.00 to $21.00 and gave the company a “buy” rating in a report on Thursday, January 30th. StockNews.com raised MAG Silver from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Finally, Roth Capital lowered MAG Silver from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 24th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, MAG Silver presently has an average rating of “Hold” and an average target price of $18.63.

MAG Silver Trading Up 1.1 %

NYSEAMERICAN MAG opened at $17.10 on Thursday. The firm has a market cap of $1.77 billion, a PE ratio of 24.08 and a beta of 1.09. MAG Silver has a one year low of $8.19 and a one year high of $18.27.

MAG Silver (NYSEAMERICAN:MAG) last released its earnings results on Tuesday, November 12th. The company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates 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 the company. Marshall Wace LLP purchased a new stake in shares of MAG Silver in the fourth quarter worth $274,000. Rossby Financial LCC purchased a new stake in shares of MAG Silver during the fourth quarter valued at $326,000. Raymond James Financial Inc. purchased a new stake in shares of MAG Silver during the fourth quarter valued at $3,482,000. Geode Capital Management LLC boosted its position in shares of MAG Silver by 2.5% during the fourth quarter. Geode Capital Management LLC now owns 50,088 shares of the company’s stock valued at $687,000 after buying an additional 1,245 shares during the last quarter. Finally, Schroder Investment Management Group lifted its holdings in MAG Silver by 38.4% in the fourth quarter. Schroder Investment Management Group now owns 323,100 shares of the company’s stock valued at $4,297,000 after acquiring an additional 89,700 shares during the period. 52.50% of the stock is owned by hedge funds and other institutional investors.

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.