Q2 2024 Earnings Forecast for MAG Silver Corp. (NYSEAMERICAN:MAG) Issued By Roth Capital

MAG Silver Corp. (NYSEAMERICAN:MAG) – Stock analysts at Roth Capital increased their Q2 2024 earnings per share estimates for MAG Silver in a research note issued on Wednesday, April 24th. Roth Capital analyst J. Reagor now expects that the company will post earnings of $0.19 per share for the quarter, up from their prior estimate of $0.17. The consensus estimate for MAG Silver’s current full-year earnings is $0.55 per share. Roth Capital also issued estimates for MAG Silver’s Q3 2024 earnings at $0.18 EPS, Q4 2024 earnings at $0.16 EPS and FY2024 earnings at $0.68 EPS.

A number of other research firms also recently commented on MAG. HC Wainwright lifted their target price on MAG Silver from $16.00 to $17.00 and gave the stock a “buy” rating in a report on Thursday. Stifel Nicolaus decreased their price target on MAG Silver from $20.00 to $19.00 and set a “buy” rating for the company in a report on Wednesday, March 20th. StockNews.com raised MAG Silver to a “sell” rating in a report on Wednesday, March 27th. Finally, Scotiabank raised MAG Silver from a “sector perform” rating to a “sector outperform” rating and decreased their price target for the company from $15.00 to $13.50 in a report on Thursday, March 28th. One analyst has rated the stock with a sell rating and four have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $18.25.

MAG Silver Price Performance

MAG Silver stock opened at $12.96 on Friday. MAG Silver has a 52 week low of $8.19 and a 52 week high of $13.62. The stock has a market cap of $1.33 billion, a P/E ratio of 27.57 and a beta of 1.15.

MAG Silver (NYSEAMERICAN:MAG) last released its earnings results 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

Several large investors have recently made changes to their positions in the business. Van ECK Associates Corp raised its stake in shares of MAG Silver by 4.4% during the 3rd quarter. Van ECK Associates Corp now owns 9,746,401 shares of the company’s stock worth $101,069,000 after buying an additional 406,335 shares during the period. First Eagle Investment Management LLC raised its stake in shares of MAG Silver by 11.2% during the 4th quarter. First Eagle Investment Management LLC now owns 6,380,120 shares of the company’s stock worth $66,402,000 after buying an additional 642,494 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in shares of MAG Silver by 2.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,542,545 shares of the company’s stock worth $26,403,000 after purchasing an additional 58,849 shares in the last quarter. Jupiter Asset Management Ltd. increased its position in shares of MAG Silver by 1.7% during the third quarter. Jupiter Asset Management Ltd. now owns 2,364,171 shares of the company’s stock worth $24,551,000 after purchasing an additional 38,784 shares in the last quarter. Finally, Invesco Ltd. raised its stake in MAG Silver by 8.8% in 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 during the last quarter. 52.50% of the stock is 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.