Brokers Offer Predictions for MAG Silver Corp.’s Q1 2024 Earnings (NYSEAMERICAN:MAG)

MAG Silver Corp. (NYSEAMERICAN:MAG) – Investment analysts at Cormark issued their Q1 2024 earnings estimates for shares of MAG Silver in a research note issued on Monday, April 22nd. Cormark analyst N. Dion forecasts that the company will earn $0.07 per share for the quarter. The consensus estimate for MAG Silver’s current full-year earnings is $0.47 per share.

Several other equities research analysts have also recently weighed in on the stock. Stifel Nicolaus lowered their price target on shares of MAG Silver from $20.00 to $19.00 and set a “buy” rating for the company in a research report on Wednesday, March 20th. HC Wainwright decreased their target price on shares of MAG Silver from $19.50 to $16.00 and set a “buy” rating for the company in a research report on Thursday, April 4th. StockNews.com raised shares of MAG Silver to a “sell” rating in a research report on Wednesday, March 27th. Finally, Scotiabank raised shares of MAG Silver from a “sector perform” rating to a “sector outperform” rating and decreased their target price for the company from $15.00 to $13.50 in a research report on Thursday, March 28th. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the company. According to MarketBeat.com, MAG Silver presently has an average rating of “Moderate Buy” and a consensus price target of $18.00.

MAG Silver Price Performance

Shares of MAG opened at $11.84 on Tuesday. MAG Silver has a fifty-two week low of $8.19 and a fifty-two week high of $13.62. The company has a market capitalization of $1.22 billion, a PE ratio of 26.38 and a beta of 1.15.

MAG Silver (NYSEAMERICAN:MAG) last announced its quarterly earnings results on Tuesday, March 19th. The company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.01.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Van ECK Associates Corp increased its stake in MAG Silver by 4.4% during the 3rd quarter. Van ECK Associates Corp now owns 9,746,401 shares of the company’s stock valued at $101,069,000 after purchasing an additional 406,335 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in MAG Silver by 6.6% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 63,884 shares of the company’s stock valued at $665,000 after purchasing an additional 3,950 shares in the last quarter. Quadrature Capital Ltd acquired a new position in MAG Silver during the 3rd quarter valued at approximately $127,000. Oppenheimer & Co. Inc. increased its stake in MAG Silver by 1.9% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 361,116 shares of the company’s stock valued at $3,745,000 after purchasing an additional 6,895 shares in the last quarter. Finally, Invesco Ltd. increased its stake in MAG Silver by 8.8% during the 3rd quarter. Invesco Ltd. now owns 1,465,920 shares of the company’s stock valued at $15,202,000 after purchasing an additional 118,211 shares in the last quarter. Institutional investors and hedge funds own 52.50% of the company’s stock.

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.