FY2024 EPS Estimates for MAG Silver Increased by Analyst

MAG Silver Corp. (NYSEAMERICAN:MAG) – Equities research analysts at National Bank Financial increased their FY2024 earnings per share (EPS) estimates for shares of MAG Silver in a research note issued to investors on Tuesday, October 22nd. National Bank Financial analyst D. Demarco now anticipates that the company will post earnings of $0.65 per share for the year, up from their prior estimate of $0.64. The consensus estimate for MAG Silver’s current full-year earnings is $0.69 per share. National Bank Financial also issued estimates for MAG Silver’s FY2025 earnings at $0.52 EPS.

A number of other equities research analysts have also recently commented on the stock. HC Wainwright lifted their price target on shares of MAG Silver from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Roth Mkm cut MAG Silver from a “buy” rating to a “neutral” rating and upped their price target for the company from $17.00 to $17.50 in a research report on Thursday. Roth Capital lowered MAG Silver from a “strong-buy” rating to a “hold” rating in a report on Thursday. StockNews.com raised shares of MAG Silver from a “sell” rating to a “hold” rating in a report on Thursday. Finally, Scotiabank increased their target price on shares of MAG Silver from $14.50 to $15.50 and gave the stock a “sector outperform” rating in a research report on Monday, August 19th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, MAG Silver currently has a consensus rating of “Hold” and an average price target of $17.88.

MAG Silver Stock Down 2.4 %

Shares of NYSEAMERICAN:MAG opened at $17.43 on Friday. MAG Silver has a 1 year low of $8.19 and a 1 year high of $18.01. The firm has a market capitalization of $1.80 billion, a price-to-earnings ratio of 30.05 and a beta of 1.15.

MAG Silver (NYSEAMERICAN:MAG) last posted its quarterly earnings data on Friday, August 2nd. The company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.19 by $0.02.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC purchased a new stake in MAG Silver in the third quarter worth approximately $148,000. Veracity Capital LLC lifted its holdings in shares of MAG Silver by 16.8% in the 3rd quarter. Veracity Capital LLC now owns 16,653 shares of the company’s stock worth $234,000 after acquiring an additional 2,396 shares during the last quarter. Cubist Systematic Strategies LLC grew its holdings in shares of MAG Silver by 304.8% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 25,569 shares of the company’s stock valued at $299,000 after purchasing an additional 19,253 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in MAG Silver in the 2nd quarter worth $161,000. Finally, Mackenzie Financial Corp lifted its stake in MAG Silver by 310.5% in the second quarter. Mackenzie Financial Corp now owns 190,385 shares of the company’s stock worth $2,224,000 after purchasing an additional 144,007 shares during the last quarter. 52.50% of the stock is currently owned by hedge funds and other 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.