FY2024 EPS Estimates for MAG Silver Boosted by Analyst

MAG Silver Corp. (NYSEAMERICAN:MAG) – National Bank Financial boosted their FY2024 earnings per share (EPS) estimates for MAG Silver in a report released on Thursday, November 28th. National Bank Financial analyst D. Demarco now anticipates that the company will earn $0.80 per share for the year, up from their previous forecast of $0.65. The consensus estimate for MAG Silver’s current full-year earnings is $0.75 per share. National Bank Financial also issued estimates for MAG Silver’s Q4 2024 earnings at $0.20 EPS.

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

Several other research firms have also recently commented on MAG. StockNews.com raised shares of MAG Silver from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Scotiabank boosted their price target on MAG Silver from $14.50 to $15.50 and gave the company a “sector outperform” rating in a report on Monday, August 19th. Roth Mkm cut MAG Silver from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $17.00 to $17.50 in a research report on Thursday, October 24th. Roth Capital lowered MAG Silver from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 24th. Finally, HC Wainwright boosted their target price on MAG Silver from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $18.38.

MAG Silver Stock Performance

Shares of MAG opened at $15.35 on Monday. MAG Silver has a twelve month low of $8.19 and a twelve month high of $18.27. The company has a market capitalization of $1.59 billion, a price-to-earnings ratio of 21.69 and a beta of 1.12.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Capital Performance Advisors LLP acquired a new stake in MAG Silver in the third quarter valued at $28,000. Quantbot Technologies LP bought a new stake in shares of MAG Silver in the 3rd quarter valued at about $52,000. Pekin Hardy Strauss Inc. acquired a new stake in MAG Silver in the 3rd quarter valued at about $140,000. DF Dent & Co. Inc. bought a new position in MAG Silver during the third quarter worth about $140,000. Finally, Addenda Capital Inc. acquired a new position in MAG Silver during the second quarter worth approximately $123,000. 52.50% of the stock is currently owned by 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.