Equities Analysts Set Expectations for MAG Silver Corp.’s FY2024 Earnings (NYSEAMERICAN:MAG)

MAG Silver Corp. (NYSEAMERICAN:MAG) – Research analysts at Cormark decreased their FY2024 EPS estimates for shares of MAG Silver in a research note issued on Tuesday, August 6th. Cormark analyst N. Dion now expects that the company will post earnings per share of $0.66 for the year, down from their previous forecast of $0.69. The consensus estimate for MAG Silver’s current full-year earnings is $0.65 per share. Cormark also issued estimates for MAG Silver’s FY2025 earnings at $0.59 EPS.

Other equities research analysts have also issued reports about the company. HC Wainwright raised their target price on MAG Silver from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Scotiabank increased their target price on shares of MAG Silver from $13.50 to $14.50 and gave the company a “sector outperform” rating in a research report on Thursday, May 23rd. Ventum Cap Mkts cut shares of MAG Silver from a “buy” rating to a “neutral” rating in a report on Friday, May 3rd. Finally, Stifel Nicolaus increased their price objective on MAG Silver from $20.25 to $20.50 and gave the company a “buy” rating in a report on Wednesday, May 15th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, MAG Silver has an average rating of “Moderate Buy” and a consensus target price of $19.13.

MAG Silver Trading Up 0.8 %

NYSEAMERICAN:MAG traded up $0.09 during trading hours on Thursday, hitting $12.04. 347,378 shares of the company traded hands, compared to its average volume of 762,203. The stock has a market cap of $1.24 billion, a PE ratio of 21.50 and a beta of 1.12. MAG Silver has a one year low of $8.19 and a one year high of $14.30.

MAG Silver (NYSEAMERICAN:MAG) last posted its earnings results on Friday, August 2nd. The company reported $0.21 EPS for the quarter, topping the consensus estimate of $0.19 by $0.02.

Hedge Funds Weigh In On MAG Silver

A number of large investors have recently added to or reduced their stakes in the business. Perritt Capital Management Inc. bought a new stake in MAG Silver in the 1st quarter worth $26,000. Banque Cantonale Vaudoise grew its position in shares of MAG Silver by 8.6% in the 1st quarter. Banque Cantonale Vaudoise now owns 11,012 shares of the company’s stock worth $116,000 after buying an additional 876 shares during the last quarter. Addenda Capital Inc. purchased a new position in shares of MAG Silver during the second quarter valued at approximately $123,000. Duality Advisers LP purchased a new stake in MAG Silver in the fourth quarter worth $255,000. Finally, Private Advisor Group LLC boosted its holdings in MAG Silver by 6.1% in the fourth quarter. Private Advisor Group LLC now owns 24,986 shares of the company’s stock valued at $260,000 after acquiring an additional 1,447 shares in the last quarter. 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.