Roth Capital Analysts Lift Earnings Estimates for MAG Silver

MAG Silver Corp. (NYSEAMERICAN:MAG) – Equities researchers at Roth Capital lifted their FY2024 earnings per share estimates for shares of MAG Silver in a note issued to investors on Thursday, January 30th. Roth Capital analyst J. Reagor now expects that the company will post earnings per share of $0.83 for the year, up from their previous forecast of $0.80. Roth Capital has a “Hold” rating on the stock. The consensus estimate for MAG Silver’s current full-year earnings is $0.75 per share.

MAG has been the subject of a number of other research reports. StockNews.com raised MAG Silver from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. HC Wainwright raised their target price on shares of MAG Silver from $20.00 to $21.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Finally, Roth Mkm cut MAG Silver from a “buy” rating to a “neutral” rating and raised their target price for the stock from $17.00 to $17.50 in a research report on Thursday, October 24th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $18.63.

MAG Silver Stock Performance

Shares of MAG stock opened at $16.10 on Monday. The firm has a market capitalization of $1.66 billion, a P/E ratio of 22.68 and a beta of 1.09. MAG Silver has a twelve month low of $8.19 and a twelve month high of $18.27.

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

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of MAG. Van ECK Associates Corp raised its holdings 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 valued at $143,649,000 after acquiring an additional 467,817 shares in the last quarter. Tidal Investments LLC lifted its position in MAG Silver by 3.6% during the third quarter. Tidal Investments LLC now owns 2,810,051 shares of the company’s stock valued at $39,453,000 after acquiring an additional 98,312 shares during the last quarter. Sprott Inc. grew its stake in MAG Silver by 8.5% during the 4th quarter. Sprott Inc. now owns 2,649,507 shares of the company’s stock worth $36,004,000 after buying an additional 208,252 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in MAG Silver by 69.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 456,335 shares of the company’s stock worth $6,407,000 after purchasing an additional 186,445 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of MAG Silver by 199.7% in the third quarter. The Manufacturers Life Insurance Company now owns 382,027 shares of the company’s stock valued at $5,374,000 after purchasing an additional 254,553 shares during the period. Hedge funds and other institutional investors own 52.50% of the company’s stock.

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.