Q3 Earnings Estimate for MAG Silver Issued By Cormark

MAG Silver Corp. (NYSEAMERICAN:MAG) – Stock analysts at Cormark issued their Q3 2024 EPS estimates for MAG Silver in a research note issued on Wednesday, October 23rd. Cormark analyst N. Dion forecasts that the company will post earnings of $0.15 per share for the quarter. The consensus estimate for MAG Silver’s current full-year earnings is $0.69 per share.

MAG has been the topic of a number of other research reports. StockNews.com upgraded shares of MAG Silver from a “sell” rating to a “hold” rating in a research report on Thursday. HC Wainwright boosted their target price on shares of MAG Silver from $17.00 to $18.00 and gave the company a “buy” rating in a report on Monday, August 5th. Scotiabank increased their price target on MAG Silver from $14.50 to $15.50 and gave the stock a “sector outperform” rating in a report on Monday, August 19th. Roth Mkm downgraded MAG Silver from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $17.00 to $17.50 in a report on Thursday. Finally, Roth Capital lowered MAG Silver from a “strong-buy” rating to a “hold” rating in a research note on Thursday. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $17.88.

MAG Silver Trading Down 2.3 %

Shares of MAG Silver stock opened at $17.45 on Friday. MAG Silver has a twelve month low of $8.19 and a twelve month high of $18.01. The firm has a market capitalization of $1.80 billion, a P/E ratio of 30.78 and a beta of 1.15.

MAG Silver (NYSEAMERICAN:MAG) last released its quarterly earnings results on Friday, August 2nd. The company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.02.

Hedge Funds Weigh In On MAG Silver

A number of large investors have recently modified their holdings of the company. Tidal Investments LLC bought a new position in shares of MAG Silver in the first quarter valued at approximately $22,518,000. Allspring Global Investments Holdings LLC bought a new stake in shares of MAG Silver in the 2nd quarter worth $9,932,000. Van ECK Associates Corp grew its stake in shares of MAG Silver by 7.5% in the 1st quarter. Van ECK Associates Corp now owns 9,981,600 shares of the company’s stock worth $105,603,000 after acquiring an additional 696,140 shares in the last quarter. Azarias Capital Management L.P. raised its holdings in shares of MAG Silver by 73.7% in the first quarter. Azarias Capital Management L.P. now owns 1,405,136 shares of the company’s stock valued at $14,866,000 after purchasing an additional 596,283 shares during the last quarter. Finally, TD Asset Management Inc lifted its position in shares of MAG Silver by 118.3% during the second quarter. TD Asset Management Inc now owns 1,063,055 shares of the company’s stock valued at $12,415,000 after purchasing an additional 576,156 shares in the last quarter. 52.50% of the stock is currently 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.