FY2024 Earnings Estimate for MAG Silver Issued By Scotiabank

MAG Silver Corp. (NYSEAMERICAN:MAG) – Equities researchers at Scotiabank cut their FY2024 EPS estimates for MAG Silver in a report released on Wednesday, January 8th. Scotiabank analyst O. Habib now anticipates that the company will post earnings of $0.54 per share for the year, down from their prior estimate of $0.55. The consensus estimate for MAG Silver’s current full-year earnings is $0.75 per share. Scotiabank also issued estimates for MAG Silver’s FY2025 earnings at $0.51 EPS and FY2026 earnings at $0.48 EPS.

A number of other brokerages have also commented on MAG. StockNews.com raised shares of MAG Silver from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Roth Capital lowered shares of MAG Silver from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 24th. Roth Mkm cut shares of MAG Silver from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $17.00 to $17.50 in a research report on Thursday, October 24th. Finally, HC Wainwright increased their price objective on MAG Silver from $18.00 to $20.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, MAG Silver has a consensus rating of “Hold” and an average target price of $18.38.

MAG Silver Price Performance

Shares of NYSEAMERICAN:MAG opened at $13.74 on Monday. MAG Silver has a twelve month low of $8.19 and a twelve month high of $18.27. The firm has a market capitalization of $1.42 billion, a PE ratio of 19.35 and a beta of 1.07.

MAG Silver (NYSEAMERICAN:MAG) last issued its quarterly earnings data on Tuesday, November 12th. The company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.02.

Institutional Investors Weigh In On MAG Silver

A number of institutional investors and hedge funds have recently modified their holdings of the business. Capital Performance Advisors LLP bought a new position in MAG Silver in the third quarter valued at approximately $28,000. Veracity Capital LLC grew its stake in shares of MAG Silver by 16.8% during the third quarter. Veracity Capital LLC now owns 16,653 shares of the company’s stock worth $234,000 after purchasing an additional 2,396 shares during the period. Quantbot Technologies LP acquired a new stake in shares of MAG Silver during the third quarter worth $52,000. Pekin Hardy Strauss Inc. bought a new stake in MAG Silver in the third quarter valued at about $140,000. Finally, DF Dent & Co. Inc. acquired a new position in MAG Silver in the third quarter valued at about $140,000. 52.50% of the stock is owned by institutional investors.

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.