MAG Silver (TSE:MAG) Downgraded to “Hold” at Roth Capital

Roth Capital downgraded shares of MAG Silver (TSE:MAG) (NYSEAMERICAN:MAG) from a strong-buy rating to a hold rating in a report published on Thursday, Zacks.com reports. Roth Capital also issued estimates for MAG Silver’s Q3 2024 earnings at $0.37 EPS and FY2024 earnings at $1.17 EPS.

A number of other equities analysts have also issued reports on MAG. Raymond James raised their target price on shares of MAG Silver from C$23.00 to C$26.00 and gave the stock an “outperform” rating in a research report on Thursday. Stifel Nicolaus raised their target price on shares of MAG Silver from C$21.50 to C$25.00 in a research report on Monday, October 21st. Finally, TD Securities raised their target price on shares of MAG Silver from C$22.00 to C$25.00 in a research report on Friday, October 18th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of C$23.75.

MAG Silver Stock Performance

Shares of MAG Silver stock opened at C$24.22 on Thursday. The firm has a market capitalization of C$2.50 billion, a P/E ratio of 30.66, a P/E/G ratio of 0.84 and a beta of 1.14. MAG Silver has a 52 week low of C$11.15 and a 52 week high of C$24.88. The company has a quick ratio of 25.31, a current ratio of 28.03 and a debt-to-equity ratio of 0.01. The firm’s 50 day moving average is C$19.46 and its two-hundred day moving average is C$18.09.

MAG Silver (TSE:MAG) (NYSEAMERICAN:MAG) last announced its quarterly earnings results on Thursday, August 1st. The company reported C$0.28 EPS for the quarter, beating the consensus estimate of C$0.27 by C$0.01. Research analysts forecast that MAG Silver will post 1.2235023 EPS for the current fiscal year.

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.