Roth Capital Lowers MAG Silver (TSE:MAG) to Hold

MAG Silver (TSE:MAG) (NYSEAMERICAN:MAG) was downgraded by investment analysts at Roth Capital from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Thursday, Zacks.com reports. Roth Capital also issued estimates for MAG Silver’s Q3 2024 earnings at $0.37 EPS and FY2024 earnings at $1.17 EPS.

Other equities research analysts have also issued research reports about the company. Stifel Nicolaus boosted their price objective on MAG Silver from C$21.50 to C$25.00 in a research report on Monday, October 21st. TD Securities boosted their price target on MAG Silver from C$22.00 to C$25.00 in a report on Friday, October 18th. Finally, Raymond James upped their price objective on MAG Silver from C$23.00 to C$26.00 and gave the company an “outperform” rating in a research note on Thursday. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of C$23.06.

MAG Silver Trading Down 2.0 %

MAG opened at C$24.22 on Thursday. The company has a market cap of C$2.50 billion, a P/E ratio of 30.66, a PEG ratio of 0.84 and a beta of 1.14. The company has a current ratio of 28.03, a quick ratio of 25.31 and a debt-to-equity ratio of 0.01. The company’s 50 day moving average is C$19.46 and its 200-day moving average is C$18.07. MAG Silver has a 1-year low of C$11.15 and a 1-year high of C$24.88.

MAG Silver (TSE:MAG) (NYSEAMERICAN:MAG) last issued its earnings results on Thursday, August 1st. The company reported C$0.28 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.27 by C$0.01. Equities research analysts predict that MAG Silver will post 1.2235023 earnings per share for the current fiscal year.

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.