FY2024 EPS Estimates for MAG Silver Reduced by Analyst

MAG Silver Corp. (NYSEAMERICAN:MAG) – National Bank Financial reduced their FY2024 earnings per share estimates for shares of MAG Silver in a report released on Monday, February 10th. National Bank Financial analyst D. Demarco now anticipates that the company will earn $0.65 per share 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.

A number of other equities analysts also recently commented on MAG. StockNews.com upgraded MAG Silver from a “sell” rating to a “hold” rating 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 stock a “buy” rating in a research report on Thursday, January 30th. Roth Mkm lowered MAG Silver from a “buy” rating to a “neutral” rating and upped their price target for the company from $17.00 to $17.50 in a research report on Thursday, October 24th. Finally, Roth Capital cut MAG Silver from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 24th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $18.63.

MAG Silver Stock Up 4.2 %

MAG opened at $16.91 on Thursday. The stock has a market capitalization of $1.75 billion, a PE ratio of 22.69 and a beta of 1.09. MAG Silver has a 1-year low of $8.19 and a 1-year high of $18.27.

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

Institutional Investors Weigh In On MAG Silver

Large investors have recently added to or reduced their stakes in the stock. Veracity Capital LLC lifted its position in MAG Silver by 16.8% in the third quarter. Veracity Capital LLC now owns 16,653 shares of the company’s stock worth $234,000 after purchasing an additional 2,396 shares during the period. International Assets Investment Management LLC purchased a new stake in shares of MAG Silver in the 3rd quarter valued at approximately $148,000. Van ECK Associates Corp boosted its position in shares of MAG Silver by 4.8% in the third quarter. Van ECK Associates Corp now owns 10,231,410 shares of the company’s stock worth $143,649,000 after buying an additional 467,817 shares during the period. Capital Performance Advisors LLP purchased a new position in MAG Silver during the 3rd quarter valued at about $28,000. Finally, PCJ Investment Counsel Ltd. increased its stake in MAG Silver by 38.1% in the 3rd quarter. PCJ Investment Counsel Ltd. now owns 369,290 shares of the company’s stock valued at $5,196,000 after buying an additional 101,870 shares during the period. 52.50% of the stock is 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.