FY2024 EPS Estimates for MAG Silver Corp. (NYSEAMERICAN:MAG) Reduced by Raymond James

MAG Silver Corp. (NYSEAMERICAN:MAGFree Report) – Equities researchers at Raymond James dropped their FY2024 earnings per share estimates for MAG Silver in a report released on Tuesday, March 19th. Raymond James analyst B. Macarthur now forecasts that the company will post earnings of $0.42 per share for the year, down from their previous estimate of $0.54. The consensus estimate for MAG Silver’s current full-year earnings is $0.55 per share.

A number of other equities research analysts also recently weighed in on MAG. HC Wainwright restated a “buy” rating and issued a $18.50 target price (down from $19.50) on shares of MAG Silver in a research report on Wednesday. StockNews.com upgraded MAG Silver to a “sell” rating in a research report on Monday, March 11th. Finally, Stifel Nicolaus cut their target price on MAG Silver from $20.00 to $19.00 and set a “buy” rating for the company in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $19.13.

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MAG Silver Price Performance

Shares of NYSEAMERICAN MAG opened at $9.18 on Friday. The company has a market cap of $945.36 million, a PE ratio of 19.53 and a beta of 1.13. MAG Silver has a 12-month low of $8.19 and a 12-month high of $14.42.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Natixis acquired a new stake in MAG Silver during the 4th quarter valued at $34,000. Geneos Wealth Management Inc. raised its stake in MAG Silver by 89.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 3,385 shares of the company’s stock valued at $54,000 after purchasing an additional 1,600 shares during the period. Deutsche Bank AG acquired a new stake in MAG Silver during the 4th quarter valued at $55,000. BNP Paribas Financial Markets acquired a new stake in MAG Silver during the 4th quarter valued at $61,000. Finally, Chilton Capital Management LLC acquired a new stake in MAG Silver during the 1st quarter valued at $78,000. Institutional investors own 42.80% of the company’s stock.

MAG Silver Company Profile

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MAG Silver Corp. engages in the exploration and development of precious metal mining properties. The company explores for silver, gold, lead, copper, and zinc deposits. It primarily holds 44% interest in the Juanicipio project located in the Fresnillo District, Zacatecas State, Mexico. MAG Silver Corp.

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