Cormark Has Optimistic Outlook of MAG Silver FY2024 Earnings

MAG Silver Corp. (TSE:MAG) (NYSEAMERICAN:MAG) – Equities research analysts at Cormark increased their FY2024 earnings per share estimates for shares of MAG Silver in a note issued to investors on Wednesday, November 13th. Cormark analyst N. Dion now expects that the company will earn $1.11 per share for the year, up from their prior estimate of $1.08. 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 earnings results on Tuesday, November 12th. The company reported C$0.30 EPS for the quarter, beating analysts’ consensus estimates of C$0.28 by C$0.02.

Several other research analysts have also recently issued reports on the company. Raymond James upped their price target on MAG Silver from C$23.00 to C$26.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Stifel Nicolaus upped their price objective on shares of MAG Silver from C$21.50 to C$25.00 in a research note on Monday, October 21st. TD Securities raised their target price on shares of MAG Silver from C$22.00 to C$25.00 in a report on Friday, October 18th. CIBC boosted their price target on shares of MAG Silver from C$24.00 to C$25.00 in a report on Wednesday. Finally, BMO Capital Markets raised their price objective on shares of MAG Silver from C$24.00 to C$26.00 in a research note on Friday, October 25th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of C$24.71.

MAG Silver Stock Performance

TSE:MAG opened at C$21.07 on Thursday. The firm has a 50-day moving average of C$20.83 and a two-hundred day moving average of C$18.71. MAG Silver has a 1-year low of C$11.15 and a 1-year high of C$25.36. The stock has a market cap of C$2.17 billion, a P/E ratio of 26.67, a PEG ratio of 0.84 and a beta of 1.14. The company has a debt-to-equity ratio of 0.01, a current ratio of 28.03 and a quick ratio of 25.31.

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.