Brokers Issue Forecasts for MAG Silver FY2024 Earnings

MAG Silver Corp. (NYSEAMERICAN:MAG - Free Report) - Analysts at National Bank Financial upped their FY2024 earnings estimates for MAG Silver in a research report issued on Thursday, November 28th. National Bank Financial analyst D. Demarco now anticipates that the company will post earnings of $0.80 per share for the year, up from their prior estimate 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.

A number of other analysts have also recently weighed in on MAG. HC Wainwright increased their price target on MAG Silver from $18.00 to $20.00 and gave the stock a "buy" rating in a research report on Wednesday, November 13th. Scotiabank increased their target price on MAG Silver from $14.50 to $15.50 and gave the stock a "sector outperform" rating in a research report on Monday, August 19th. StockNews.com raised shares of 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 price target for the stock from $17.00 to $17.50 in a research note on Thursday, October 24th. 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 equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, MAG Silver currently has a consensus rating of "Hold" and a consensus target price of $18.38.

MAG Silver Trading Down 0.2 %

Shares of NYSEAMERICAN MAG traded down $0.02 during trading on Monday, reaching $15.35. The stock had a trading volume of 535,631 shares, compared to its average volume of 720,820. The company has a market capitalization of $1.59 billion, a price-to-earnings ratio of 21.69 and a beta of 1.12. MAG Silver has a one year low of $8.19 and a one year high of $18.27.

MAG Silver (NYSEAMERICAN:MAG - Get Free Report) last posted its quarterly earnings data on Tuesday, November 12th. The company reported $0.22 EPS for the quarter, beating analysts' consensus estimates of $0.20 by $0.02.

Hedge Funds Weigh In On MAG Silver

A number of hedge funds have recently modified their holdings of the stock. Van ECK Associates Corp grew its position in MAG Silver by 4.8% in the third quarter. Van ECK Associates Corp now owns 10,231,410 shares of the company's stock worth $143,649,000 after acquiring an additional 467,817 shares in the last quarter. Tidal Investments LLC lifted its position in shares of MAG Silver by 3.6% in the third quarter. Tidal Investments LLC now owns 2,810,051 shares of the company's stock worth $39,453,000 after buying an additional 98,312 shares during the last quarter. TD Asset Management Inc increased its holdings in shares of MAG Silver by 118.3% during the 2nd quarter. TD Asset Management Inc now owns 1,063,055 shares of the company's stock valued at $12,415,000 after acquiring an additional 576,156 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new position in shares of MAG Silver in the 2nd quarter valued at approximately $9,932,000. Finally, Gabelli Funds LLC lifted its holdings in MAG Silver by 12.2% in the 2nd quarter. Gabelli Funds LLC now owns 459,000 shares of the company's stock worth $5,357,000 after purchasing an additional 50,000 shares during the last quarter. 52.50% of the stock is owned by institutional investors and hedge funds.

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.