HC Wainwright Forecasts Stronger Earnings for MAG Silver

MAG Silver Corp. (NYSEAMERICAN:MAG) – Investment analysts at HC Wainwright raised their FY2024 earnings estimates for MAG Silver in a note issued to investors on Wednesday, November 13th. HC Wainwright analyst H. Ihle now forecasts that the company will post earnings of $0.74 per share for the year, up from their prior forecast of $0.67. HC Wainwright has a “Buy” rating and a $20.00 price objective on the stock. The consensus estimate for MAG Silver’s current full-year earnings is $0.71 per share. HC Wainwright also issued estimates for MAG Silver’s FY2025 earnings at $0.75 EPS.

A number of other brokerages have also recently issued reports on MAG. Roth Mkm cut MAG Silver from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $17.00 to $17.50 in a report on Thursday, October 24th. StockNews.com upgraded MAG Silver from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Scotiabank raised their price objective on shares of MAG Silver from $14.50 to $15.50 and gave the company a “sector outperform” rating in a report on Monday, August 19th. Finally, Roth Capital downgraded shares of MAG Silver from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 24th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, MAG Silver currently has an average rating of “Hold” and a consensus target price of $18.38.

MAG Silver Stock Down 2.9 %

MAG Silver stock opened at $14.78 on Thursday. MAG Silver has a 1-year low of $8.19 and a 1-year high of $18.27. The firm has a market capitalization of $1.53 billion, a P/E ratio of 20.82 and a beta of 1.12.

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

Institutional Trading of MAG Silver

A number of hedge funds and other institutional investors have recently modified their holdings of MAG. Janus Henderson Group PLC bought a new stake in MAG Silver during the first quarter valued at about $3,925,000. Jupiter Asset Management Ltd. lifted its stake in MAG Silver by 6.5% in the 1st quarter. Jupiter Asset Management Ltd. now owns 2,517,445 shares of the company’s stock valued at $26,584,000 after buying an additional 153,274 shares in the last quarter. Mackenzie Financial Corp boosted its stake in shares of MAG Silver by 310.5% in the second quarter. Mackenzie Financial Corp now owns 190,385 shares of the company’s stock worth $2,224,000 after acquiring an additional 144,007 shares during the last quarter. Van ECK Associates Corp raised its position 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 buying an additional 467,817 shares during the last quarter. Finally, Cubist Systematic Strategies LLC boosted its holdings in shares of MAG Silver by 304.8% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 25,569 shares of the company’s stock worth $299,000 after purchasing an additional 19,253 shares during the last quarter. 52.50% of the stock is owned by hedge funds and other institutional investors.

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.