MAG Silver Corp. to Post Q1 2024 Earnings of $0.14 Per Share, Raymond James Forecasts (NYSEAMERICAN:MAG)

MAG Silver Corp. (NYSEAMERICAN:MAG) – Investment analysts at Raymond James upped their Q1 2024 earnings per share estimates for MAG Silver in a research report issued on Wednesday, April 24th. Raymond James analyst B. Macarthur now expects that the company will post earnings of $0.14 per share for the quarter, up from their previous estimate of $0.10. The consensus estimate for MAG Silver’s current full-year earnings is $0.53 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.

MAG Silver (NYSEAMERICAN:MAG) last announced its earnings results on Tuesday, March 19th. The company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.13 by $0.01.

A number of other equities analysts have also weighed in on MAG. StockNews.com raised MAG Silver to a “sell” rating in a research report on Wednesday, March 27th. Scotiabank raised MAG Silver from a “sector perform” rating to a “sector outperform” rating and lowered their target price for the stock from $15.00 to $13.50 in a research report on Thursday, March 28th. Stifel Nicolaus lowered their target price on 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, HC Wainwright upped their target price on MAG Silver from $16.00 to $17.00 and gave the stock a “buy” rating in a research report on Thursday. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $18.25.

MAG Silver Stock Performance

Shares of MAG stock opened at $12.97 on Thursday. The company has a market capitalization of $1.34 billion, a P/E ratio of 27.60 and a beta of 1.15. MAG Silver has a one year low of $8.19 and a one year high of $13.62.

Institutional Trading of MAG Silver

A number of hedge funds have recently bought and sold shares of MAG. Banque Cantonale Vaudoise increased its stake in shares of 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 buying an additional 876 shares during the period. Private Advisor Group LLC increased its stake in shares of MAG Silver by 6.1% during the fourth 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 during the period. CIBC Asset Management Inc increased its stake in shares of MAG Silver by 3.0% during the fourth 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 during the period. DORCHESTER WEALTH MANAGEMENT Co increased its stake in shares of MAG Silver by 12.2% during the fourth quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 29,400 shares of the company’s stock valued at $307,000 after buying an additional 3,200 shares during the period. Finally, Raymond James Financial Services Advisors Inc. grew its stake 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 worth $665,000 after purchasing an additional 3,950 shares during the period. 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.