Analysts Offer Predictions for MAG Silver Corp.’s FY2024 Earnings (NYSEAMERICAN:MAG)

MAG Silver Corp. (NYSEAMERICAN:MAG) – Equities researchers at HC Wainwright raised their FY2024 earnings estimates for shares of MAG Silver in a research report issued on Thursday, April 25th. HC Wainwright analyst H. Ihle now expects that the company will post earnings per share of $0.59 for the year, up from their previous estimate of $0.56. HC Wainwright currently has a “Buy” rating and a $17.00 target price on the stock. The consensus estimate for MAG Silver’s current full-year earnings is $0.55 per share.

A number of other research firms have also recently weighed in on MAG. Stifel Nicolaus cut their price objective 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. StockNews.com upgraded shares of MAG Silver to a “sell” rating in a research report on Wednesday, March 27th. Finally, Scotiabank upgraded shares of 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 research report on Thursday, March 28th. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.25.

MAG Silver Trading Down 4.4 %

Shares of MAG opened at $12.28 on Monday. MAG Silver has a fifty-two week low of $8.19 and a fifty-two week high of $13.62. The firm has a market capitalization of $1.26 billion, a P/E ratio of 26.13 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 the consensus estimate of $0.13 by $0.01.

Hedge Funds Weigh In On MAG Silver

Institutional investors have recently bought and sold shares of the business. Van ECK Associates Corp increased its holdings 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 valued at $101,069,000 after purchasing an additional 406,335 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its holdings in MAG Silver by 6.6% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 63,884 shares of the company’s stock worth $665,000 after acquiring an additional 3,950 shares in the last quarter. Quadrature Capital Ltd purchased a new stake in MAG Silver in the 3rd quarter worth $127,000. Oppenheimer & Co. Inc. increased its holdings in MAG Silver by 1.9% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 361,116 shares of the company’s stock worth $3,745,000 after acquiring an additional 6,895 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in MAG Silver by 8.8% in the 3rd quarter. Invesco Ltd. now owns 1,465,920 shares of the company’s stock worth $15,202,000 after acquiring an additional 118,211 shares in the last quarter. 52.50% of the stock is owned by hedge funds and other institutional investors.

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.