MAG Silver Corp. to Post Q2 2024 Earnings of $0.29 Per Share, Raymond James Forecasts (TSE:MAG)

MAG Silver Corp. (TSE:MAG) (NYSEAMERICAN:MAG) – Equities researchers at Raymond James boosted their Q2 2024 EPS estimates for shares of MAG Silver in a note issued to investors on Wednesday, July 24th. Raymond James analyst B. Macarthur now expects that the company will post earnings of $0.29 per share for the quarter, up from their previous forecast of $0.25. The consensus estimate for MAG Silver’s current full-year earnings is $0.70 per share. Raymond James also issued estimates for MAG Silver’s FY2024 earnings at $0.97 EPS, Q1 2025 earnings at $0.17 EPS, Q2 2025 earnings at $0.18 EPS, Q3 2025 earnings at $0.19 EPS and FY2025 earnings at $0.76 EPS.

MAG Silver (TSE:MAG) (NYSEAMERICAN:MAG) last announced its earnings results on Tuesday, May 14th. The company reported C$0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.14 by C$0.05.

Several other equities analysts have also recently commented on the company. Canaccord Genuity Group increased their target price on MAG Silver from C$20.00 to C$22.00 and gave the company a “buy” rating in a research note on Tuesday, April 23rd. TD Securities increased their price objective on shares of MAG Silver from C$21.00 to C$22.00 in a research note on Monday, July 22nd. Stifel Nicolaus boosted their target price on shares of MAG Silver from C$20.25 to C$20.50 in a research report on Wednesday, May 15th. National Bankshares increased their price target on shares of MAG Silver from C$21.00 to C$24.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 29th. Finally, Ventum Cap Mkts downgraded MAG Silver from a “buy” rating to a “neutral” rating in a research note on Friday, May 3rd. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, MAG Silver has an average rating of “Moderate Buy” and an average price target of C$21.06.

MAG Silver Price Performance

Shares of TSE MAG opened at C$18.11 on Friday. The company has a quick ratio of 25.31, a current ratio of 14.66 and a debt-to-equity ratio of 0.02. MAG Silver has a fifty-two week low of C$11.15 and a fifty-two week high of C$19.41. The business has a 50 day moving average price of C$17.61 and a two-hundred day moving average price of C$15.29. The firm has a market cap of C$1.87 billion, a PE ratio of 23.52, a price-to-earnings-growth ratio of 0.84 and a beta of 1.03.

Insider Activity at MAG Silver

In other MAG Silver news, Senior Officer Marc Justin Turcotte sold 4,208 shares of the firm’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of C$17.22, for a total value of C$72,446.61. Insiders own 0.96% 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.