MAG Silver Corp. (NYSEAMERICAN:MAG – Free Report) – Stock analysts at Cormark dropped their FY2024 earnings estimates for MAG Silver in a note issued to investors on Thursday, January 30th. Cormark analyst N. Dion now expects that the company will post earnings of $0.76 per share for the year, down from their prior forecast of $0.80. The consensus estimate for MAG Silver’s current full-year earnings is $0.74 per share.
Several other equities research analysts have also weighed in on MAG. Roth Mkm lowered MAG Silver from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $17.00 to $17.50 in a report on Thursday, October 24th. HC Wainwright increased their target price on shares of MAG Silver from $20.00 to $21.00 and gave the stock a “buy” rating in a research report on Thursday. StockNews.com raised shares of MAG Silver from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Finally, Roth Capital downgraded shares of MAG Silver from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 24th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, MAG Silver presently has an average rating of “Hold” and an average target price of $18.63.
MAG Silver Stock Performance
Shares of MAG opened at $15.80 on Monday. MAG Silver has a 1 year low of $8.19 and a 1 year high of $18.27. The firm has a market capitalization of $1.63 billion, a price-to-earnings ratio of 22.25 and a beta of 1.08.
MAG Silver (NYSEAMERICAN:MAG – Get Free Report) last posted its quarterly earnings results on Tuesday, November 12th. The company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.02.
Hedge Funds Weigh In On MAG Silver
Several hedge funds have recently bought and sold shares of the company. Capital Performance Advisors LLP bought a new position in MAG Silver in the 3rd quarter valued at $28,000. Quantbot Technologies LP bought a new position in shares of MAG Silver in the third quarter worth $52,000. DF Dent & Co. Inc. purchased a new stake in shares of MAG Silver in the third quarter worth $140,000. Pekin Hardy Strauss Inc. bought a new stake in MAG Silver during the third quarter valued at $140,000. Finally, International Assets Investment Management LLC purchased a new position in MAG Silver during the third quarter worth about $148,000. Hedge funds and other institutional investors own 52.50% of the company’s stock.
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.
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