National Bank Financial Weighs in on MAG Silver Q4 Earnings

MAG Silver Corp. (NYSEAMERICAN:MAG) – Equities research analysts at National Bank Financial increased their Q4 2024 earnings estimates for shares of MAG Silver in a report released on Monday, February 10th. National Bank Financial analyst D. Demarco now forecasts that the company will post earnings of $0.23 per share for the quarter, up from their prior estimate of $0.20. The consensus estimate for MAG Silver’s current full-year earnings is $0.75 per share.

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

Several other research firms also recently weighed in on MAG. StockNews.com upgraded MAG Silver from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Roth Mkm cut MAG Silver from a “buy” rating to a “neutral” rating and increased their target price for the stock from $17.00 to $17.50 in a research note on Thursday, October 24th. HC Wainwright lifted their price target on MAG Silver from $20.00 to $21.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Finally, Roth Capital cut shares of MAG Silver from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 24th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $18.63.

MAG Silver Stock Down 0.9 %

Shares of NYSEAMERICAN MAG opened at $16.23 on Wednesday. MAG Silver has a fifty-two week low of $8.19 and a fifty-two week high of $18.27. The company has a market cap of $1.68 billion, a price-to-earnings ratio of 22.69 and a beta of 1.09.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Quantbot Technologies LP lifted its holdings in MAG Silver by 498.1% in the fourth quarter. Quantbot Technologies LP now owns 22,089 shares of the company’s stock valued at $300,000 after acquiring an additional 18,396 shares during the period. First Eagle Investment Management LLC increased its position in shares of MAG Silver by 46.4% during the 4th quarter. First Eagle Investment Management LLC now owns 7,839,793 shares of the company’s stock valued at $106,379,000 after purchasing an additional 2,486,538 shares during the last quarter. Intact Investment Management Inc. lifted its stake in shares of MAG Silver by 21.3% in the 4th quarter. Intact Investment Management Inc. now owns 307,433 shares of the company’s stock worth $4,176,000 after purchasing an additional 54,033 shares during the period. Monaco Asset Management SAM boosted its holdings in shares of MAG Silver by 181.2% in the fourth quarter. Monaco Asset Management SAM now owns 231,122 shares of the company’s stock worth $3,142,000 after buying an additional 148,922 shares during the last quarter. Finally, Swiss National Bank boosted its holdings in shares of MAG Silver by 0.6% in the fourth quarter. Swiss National Bank now owns 193,900 shares of the company’s stock worth $2,633,000 after buying an additional 1,200 shares during the last quarter. 52.50% of the stock is owned by hedge funds and other institutional investors.

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.