Q3 2024 Earnings Estimate for MAG Silver Corp. Issued By Raymond James (NYSEAMERICAN:MAG)

MAG Silver Corp. (NYSEAMERICAN:MAG) – Stock analysts at Raymond James reduced their Q3 2024 earnings estimates for MAG Silver in a research report issued on Wednesday, April 24th. Raymond James analyst B. Macarthur now forecasts that the company will post earnings of $0.17 per share for the quarter, down from their prior forecast of $0.18. The consensus estimate for MAG Silver’s current full-year earnings is $0.55 per share. Raymond James also issued estimates for MAG Silver’s Q4 2024 earnings at $0.17 EPS.

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

MAG Silver Trading Down 0.1 %

MAG Silver stock opened at $12.96 on Friday. 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 has a 52 week low of $8.19 and a 52 week high of $13.62.

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

Institutional Investors Weigh In On MAG Silver

Several institutional investors and hedge funds have recently added to or reduced their stakes in MAG. Banque Cantonale Vaudoise lifted its holdings in MAG Silver by 8.6% during 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. Private Advisor Group LLC lifted its stake in MAG Silver by 6.1% in the 4th quarter. Private Advisor Group LLC now owns 24,986 shares of the company’s stock valued at $260,000 after buying an additional 1,447 shares in the last quarter. CIBC Asset Management Inc lifted its stake in MAG Silver by 3.0% in the 4th quarter. CIBC Asset Management Inc now owns 90,881 shares of the company’s stock valued at $949,000 after buying an additional 2,652 shares in the last quarter. DORCHESTER WEALTH MANAGEMENT Co boosted its holdings in MAG Silver by 12.2% in the 4th quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 29,400 shares of the company’s stock worth $307,000 after buying an additional 3,200 shares during the last quarter. Finally, 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 worth $665,000 after buying an additional 3,950 shares in the last quarter. Hedge funds and other institutional investors own 52.50% of the company’s stock.

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.