Research Analysts Issue Forecasts for MAG Silver Corp.’s Q1 2024 Earnings (NYSEAMERICAN:MAG)

MAG Silver Corp. (NYSEAMERICAN:MAG) – Equities researchers at Cormark issued their Q1 2024 earnings per share (EPS) estimates for shares of MAG Silver in a report released on Monday, April 22nd. Cormark analyst N. Dion expects 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.

Other equities research analysts also recently issued research reports about the company. Scotiabank raised MAG Silver from a “sector perform” rating to a “sector outperform” rating and cut their price objective for the company from $15.00 to $13.50 in a report on Thursday, March 28th. Stifel Nicolaus cut their price objective 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, HC Wainwright cut their price objective on MAG Silver from $19.50 to $16.00 and set a “buy” rating for the company in a report on Thursday, April 4th. One analyst has rated the stock with a sell rating and four have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.00.

MAG Silver Price Performance

Shares of MAG opened at $12.16 on Tuesday. The company has a market cap of $1.25 billion, a PE ratio of 25.86 and a beta of 1.15. MAG Silver has a twelve month low of $8.19 and a twelve month high of $13.62.

MAG Silver (NYSEAMERICAN:MAG) last issued 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

A number of hedge funds have recently modified their holdings of the stock. Banque Cantonale Vaudoise increased its position 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 worth $116,000 after purchasing an additional 876 shares during the period. Private Advisor Group LLC grew its position in MAG Silver by 6.1% in the fourth quarter. Private Advisor Group LLC now owns 24,986 shares of the company’s stock valued at $260,000 after acquiring an additional 1,447 shares during the last quarter. CIBC Asset Management Inc grew its position in MAG Silver by 3.0% in the fourth quarter. CIBC Asset Management Inc now owns 90,881 shares of the company’s stock valued at $949,000 after acquiring an additional 2,652 shares during the last quarter. DORCHESTER WEALTH MANAGEMENT Co grew its position in MAG Silver by 12.2% in the fourth quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 29,400 shares of the company’s stock valued at $307,000 after acquiring an additional 3,200 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. grew its position in MAG Silver by 6.6% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 63,884 shares of the company’s stock valued at $665,000 after acquiring an additional 3,950 shares during the last quarter. Institutional investors 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.