Q1 2024 EPS Estimates for MAG Silver Corp. Lifted by Analyst (NYSEAMERICAN:MAG)

MAG Silver Corp. (NYSEAMERICAN:MAG) – Investment analysts at Raymond James lifted their Q1 2024 earnings per share estimates for MAG Silver in a report released on Wednesday, April 24th. Raymond James analyst B. Macarthur now anticipates that the company will earn $0.14 per share for the quarter, up from their prior estimate of $0.10. The consensus estimate for MAG Silver’s current full-year earnings is $0.50 per share. Raymond James also issued estimates for MAG Silver’s Q2 2024 earnings at $0.18 EPS, Q3 2024 earnings at $0.18 EPS, Q4 2024 earnings at $0.18 EPS and FY2024 earnings at $0.66 EPS.

Other research analysts have also issued reports about the company. Stifel Nicolaus decreased their price objective on MAG Silver from $20.00 to $19.00 and set a “buy” rating on the stock in a report on Wednesday, March 20th. HC Wainwright increased their target price on MAG Silver from $16.00 to $17.00 and gave the company a “buy” rating in a research report on Thursday. StockNews.com raised MAG Silver to a “sell” rating in a research note on Wednesday, March 27th. Finally, Scotiabank upgraded MAG Silver from a “sector perform” rating to a “sector outperform” rating and dropped their price target for the stock from $15.00 to $13.50 in a report on Thursday, March 28th. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $18.25.

MAG Silver Price Performance

MAG Silver stock opened at $12.97 on Thursday. The stock has a market cap of $1.34 billion, a PE ratio of 27.60 and a beta of 1.15. MAG Silver has a 1 year low of $8.19 and a 1 year high of $13.62.

MAG Silver (NYSEAMERICAN:MAG) last posted its quarterly earnings data on Tuesday, March 19th. The company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.01.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Banque Cantonale Vaudoise lifted its holdings in shares of MAG Silver by 8.6% in the first quarter. Banque Cantonale Vaudoise now owns 11,012 shares of the company’s stock valued at $116,000 after purchasing an additional 876 shares in the last quarter. Crown Wealth Group LLC purchased a new position in shares of MAG Silver during the fourth quarter valued at approximately $118,000. Quadrature Capital Ltd purchased a new position in shares of MAG Silver during the third quarter valued at approximately $127,000. Privium Fund Management B.V. raised its stake in MAG Silver by 44.9% during the third quarter. Privium Fund Management B.V. now owns 15,500 shares of the company’s stock worth $161,000 after purchasing an additional 4,800 shares during the period. Finally, Veracity Capital LLC raised its stake in MAG Silver by 50.0% during the fourth quarter. Veracity Capital LLC now owns 16,654 shares of the company’s stock worth $173,000 after purchasing an additional 5,551 shares during the period. 52.50% of the stock is currently owned by institutional investors and hedge funds.

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.