Q3 Earnings Forecast for MAG Silver Issued By Roth Capital

MAG Silver Corp. (NYSEAMERICAN:MAG) – Equities researchers at Roth Capital boosted their Q3 2024 earnings per share estimates for MAG Silver in a report released on Thursday, October 24th. Roth Capital analyst J. Reagor now anticipates that the company will earn $0.27 per share for the quarter, up from their prior forecast of $0.22. Roth Capital has a “Hold” rating on the stock. The consensus estimate for MAG Silver’s current full-year earnings is $0.69 per share. Roth Capital also issued estimates for MAG Silver’s FY2024 earnings at $0.86 EPS.

Several other research firms have also recently weighed in on MAG. StockNews.com raised MAG Silver from a “sell” rating to a “hold” rating in a research report on Thursday. HC Wainwright increased their price objective on MAG Silver from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Roth Mkm downgraded shares of MAG Silver from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $17.00 to $17.50 in a research note on Thursday. Finally, Scotiabank upped their target price on shares of MAG Silver from $14.50 to $15.50 and gave the company a “sector outperform” rating in a research note on Monday, August 19th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $17.88.

MAG Silver Price Performance

MAG stock opened at $17.45 on Friday. The stock has a market cap of $1.80 billion, a price-to-earnings ratio of 30.78 and a beta of 1.15. MAG Silver has a 52-week low of $8.19 and a 52-week high of $18.01.

MAG Silver (NYSEAMERICAN:MAG) last posted its earnings results on Friday, August 2nd. The company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.02.

Institutional Investors Weigh In On MAG Silver

Several institutional investors and hedge funds have recently bought and sold shares of the business. International Assets Investment Management LLC acquired a new stake in MAG Silver during the third quarter valued at approximately $148,000. Veracity Capital LLC boosted its stake in MAG Silver by 16.8% in the 3rd quarter. Veracity Capital LLC now owns 16,653 shares of the company’s stock valued at $234,000 after buying an additional 2,396 shares in the last quarter. Cubist Systematic Strategies LLC boosted its stake in MAG Silver by 304.8% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 25,569 shares of the company’s stock valued at $299,000 after buying an additional 19,253 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in MAG Silver in the second quarter valued at $161,000. Finally, Mackenzie Financial Corp raised its stake in MAG Silver by 310.5% during the second quarter. Mackenzie Financial Corp now owns 190,385 shares of the company’s stock worth $2,224,000 after acquiring an additional 144,007 shares in the last quarter. Institutional investors 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.