Brokers Offer Predictions for MAG Silver FY2024 Earnings

MAG Silver Corp. (NYSEAMERICAN:MAG) – Investment analysts at National Bank Financial lowered their FY2024 earnings per share estimates for shares of MAG Silver in a research report issued to clients and investors 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 prior forecast 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 research firms also recently issued reports on MAG. StockNews.com upgraded shares of MAG Silver from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Roth Mkm lowered shares of MAG Silver from a “buy” rating to a “neutral” rating and increased their price target for the company from $17.00 to $17.50 in a research report on Thursday, October 24th. Roth Capital lowered MAG Silver from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 24th. Finally, HC Wainwright boosted their price target on MAG Silver from $20.00 to $21.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Four 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, the stock currently has an average rating of “Hold” and an average price target of $18.63.

MAG Silver Trading Up 4.2 %

Shares of MAG stock opened at $16.91 on Thursday. The company has a market capitalization of $1.75 billion, a price-to-earnings ratio of 22.69 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 announced its earnings results on Tuesday, November 12th. The company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.02.

Institutional Trading of MAG Silver

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Capital Performance Advisors LLP acquired a new stake in MAG Silver during the 3rd quarter worth approximately $28,000. Quantbot Technologies LP acquired a new stake in MAG Silver in the 3rd quarter valued at $52,000. DF Dent & Co. Inc. acquired a new stake in shares of MAG Silver in the third quarter valued at about $140,000. Pekin Hardy Strauss Inc. purchased a new stake in shares of MAG Silver during the 3rd quarter valued at about $140,000. Finally, International Assets Investment Management LLC acquired a new stake in MAG Silver in the third quarter valued at approximately $148,000. 52.50% of the stock is currently 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.