Roth Capital Has Weak Outlook for MAG Silver FY2024 Earnings

MAG Silver Corp. (NYSEAMERICAN:MAG) – Analysts at Roth Capital dropped their FY2024 earnings per share estimates for shares of MAG Silver in a research note issued to investors on Tuesday, November 12th. Roth Capital analyst J. Reagor now expects that the company will post earnings per share of $0.80 for the year, down from their prior forecast of $0.86. Roth Capital currently has a “Hold” rating on the stock. The consensus estimate for MAG Silver’s current full-year earnings is $0.72 per share.

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

A number of other research firms also recently weighed in on MAG. Scotiabank raised their price target on MAG Silver from $14.50 to $15.50 and gave the stock a “sector outperform” rating in a research note on Monday, August 19th. Roth Mkm lowered MAG Silver from a “buy” rating to a “neutral” rating and increased their price objective for the company from $17.00 to $17.50 in a report on Thursday, October 24th. StockNews.com raised shares of MAG Silver from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Finally, HC Wainwright raised their price objective on shares of MAG Silver from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Wednesday. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, MAG Silver has a consensus rating of “Hold” and an average price target of $18.38.

MAG Silver Stock Performance

MAG Silver stock opened at $14.90 on Friday. MAG Silver has a 12 month low of $8.19 and a 12 month high of $18.27. The firm has a market cap of $1.54 billion, a PE ratio of 20.99 and a beta of 1.12.

Hedge Funds Weigh In On MAG Silver

Institutional investors have recently modified their holdings of the stock. BNP Paribas Financial Markets boosted its holdings in MAG Silver by 450.1% in the first quarter. BNP Paribas Financial Markets now owns 32,104 shares of the company’s stock valued at $340,000 after acquiring an additional 26,268 shares during the last quarter. Jupiter Asset Management Ltd. grew its stake in shares of MAG Silver by 6.5% during the first quarter. Jupiter Asset Management Ltd. now owns 2,517,445 shares of the company’s stock worth $26,584,000 after purchasing an additional 153,274 shares during the period. CANADA LIFE ASSURANCE Co increased its holdings in MAG Silver by 377.0% in the first quarter. CANADA LIFE ASSURANCE Co now owns 47,459 shares of the company’s stock valued at $499,000 after purchasing an additional 37,509 shares during the last quarter. Nokomis Capital L.L.C. bought a new position in MAG Silver during the first quarter worth about $306,000. Finally, Gamco Investors INC. ET AL grew its position in shares of MAG Silver by 15.0% during the 1st quarter. Gamco Investors INC. ET AL now owns 44,970 shares of the company’s stock worth $476,000 after buying an additional 5,850 shares during the period. 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.