FY2024 Earnings Forecast for MAG Silver Issued By Scotiabank

MAG Silver Corp. (NYSEAMERICAN:MAG) – Investment analysts at Scotiabank cut their FY2024 earnings estimates for MAG Silver in a research report issued on Wednesday, January 8th. Scotiabank analyst O. Habib now expects that the company will earn $0.54 per share for the year, down from their prior forecast of $0.55. The consensus estimate for MAG Silver’s current full-year earnings is $0.75 per share. Scotiabank also issued estimates for MAG Silver’s FY2025 earnings at $0.51 EPS and FY2026 earnings at $0.48 EPS.

MAG Silver (NYSEAMERICAN:MAG) last issued its earnings results on Tuesday, November 12th. The company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.20 by $0.02.

A number of other analysts also recently issued reports on the stock. HC Wainwright raised their price target on shares of MAG Silver from $18.00 to $20.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Roth Mkm cut shares of MAG Silver from a “buy” rating to a “neutral” rating and raised their target price for the stock from $17.00 to $17.50 in a report on Thursday, October 24th. StockNews.com upgraded shares of MAG Silver from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Finally, Roth Capital cut MAG Silver from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 24th. Four investment 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 company presently has a consensus rating of “Hold” and an average target price of $18.38.

MAG Silver Stock Performance

MAG Silver stock opened at $14.66 on Monday. MAG Silver has a one year low of $8.19 and a one year high of $18.27. The firm has a market cap of $1.51 billion, a P/E ratio of 20.65 and a beta of 1.07.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Gabelli Funds LLC grew its stake in shares of MAG Silver by 12.2% during the 2nd quarter. Gabelli Funds LLC now owns 459,000 shares of the company’s stock valued at $5,357,000 after acquiring an additional 50,000 shares during the period. Cubist Systematic Strategies LLC boosted its position in shares of MAG Silver by 304.8% in the second 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 period. Toronto Dominion Bank increased its stake in shares of MAG Silver by 67.1% in the second quarter. Toronto Dominion Bank now owns 33,207 shares of the company’s stock worth $388,000 after purchasing an additional 13,340 shares in the last quarter. Mackenzie Financial Corp raised its position in shares of MAG Silver by 310.5% during the 2nd quarter. Mackenzie Financial Corp now owns 190,385 shares of the company’s stock valued at $2,224,000 after purchasing an additional 144,007 shares during the period. Finally, Susquehanna Fundamental Investments LLC purchased a new position in shares of MAG Silver during the 2nd quarter valued at $161,000. 52.50% of the stock is currently owned by institutional investors.

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.