FY2024 EPS Estimates for MAG Silver Cut by Raymond James

MAG Silver Corp. (TSE:MAG) (NYSEAMERICAN:MAG) – Equities researchers at Raymond James dropped their FY2024 earnings estimates for MAG Silver in a note issued to investors on Wednesday, November 13th. Raymond James analyst B. Macarthur now anticipates that the company will post earnings per share of $1.04 for the year, down from their prior estimate of $1.06. Raymond James has a “Outperform” rating and a $26.00 price objective on the stock. The consensus estimate for MAG Silver’s current full-year earnings is $1.22 per share.

MAG Silver (TSE:MAG) (NYSEAMERICAN:MAG) last announced its quarterly earnings results on Tuesday, November 12th. The company reported C$0.30 EPS for the quarter, topping the consensus estimate of C$0.28 by C$0.02.

A number of other research analysts also recently issued reports on the company. BMO Capital Markets raised their price target on MAG Silver from C$24.00 to C$26.00 in a research note on Friday, October 25th. Roth Capital lowered shares of MAG Silver from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 24th. CIBC upped their price target on shares of MAG Silver from C$24.00 to C$25.00 in a research report on Wednesday, November 13th. Stifel Nicolaus raised their price objective on shares of MAG Silver from C$21.50 to C$25.00 in a research report on Monday, October 21st. Finally, TD Securities lifted their price objective on shares of MAG Silver from C$22.00 to C$25.00 in a research note on Friday, October 18th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$24.71.

MAG Silver Stock Performance

Shares of MAG stock opened at C$22.10 on Monday. The stock’s 50-day moving average is C$20.92 and its two-hundred day moving average is C$18.75. The company has a debt-to-equity ratio of 0.01, a quick ratio of 25.31 and a current ratio of 28.03. MAG Silver has a 1 year low of C$11.15 and a 1 year high of C$25.36. The firm has a market cap of C$2.28 billion, a price-to-earnings ratio of 27.97, a PEG ratio of 0.84 and a beta of 1.14.

About MAG Silver

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.