Scotiabank Has Weak Forecast for MAG Silver FY2024 Earnings

MAG Silver Corp. (NYSEAMERICAN:MAG - Free Report) - Stock analysts at Scotiabank decreased their FY2024 earnings estimates for MAG Silver in a research report issued to clients and investors on Wednesday, January 8th. Scotiabank analyst O. Habib now forecasts that the company will post earnings of $0.54 per share for the year, down from their previous estimate of $0.55. The consensus estimate for MAG Silver's current full-year earnings is $0.75 per share. Scotiabank also issued estimates for MAG Silver's FY2025 earnings at $0.51 EPS and FY2026 earnings at $0.48 EPS.

MAG has been the topic of several other reports. HC Wainwright lifted their target price on MAG Silver from $18.00 to $20.00 and gave the company a "buy" rating in a research report on Wednesday, November 13th. StockNews.com raised MAG Silver from a "sell" rating to a "hold" rating in a research report on Thursday, October 24th. Roth Mkm lowered shares of 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 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 equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, MAG Silver has an average rating of "Hold" and an average target price of $18.38.

MAG Silver Stock Down 1.7 %

Shares of MAG Silver stock traded down $0.24 during trading hours on Monday, reaching $13.80. 127,902 shares of the stock traded hands, compared to its average volume of 338,480. MAG Silver has a one year low of $8.19 and a one year high of $18.27. The company has a market cap of $1.43 billion, a P/E ratio of 19.44 and a beta of 1.07.

MAG Silver (NYSEAMERICAN:MAG - Get Free Report) last posted its 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.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of MAG. Capital Performance Advisors LLP bought a new position in shares of MAG Silver during the third quarter valued at approximately $28,000. Quantbot Technologies LP purchased a new position in MAG Silver during the 3rd quarter valued at $52,000. Pekin Hardy Strauss Inc. bought a new position in MAG Silver in the 3rd quarter valued at $140,000. DF Dent & Co. Inc. purchased a new stake in MAG Silver in the third quarter worth $140,000. Finally, International Assets Investment Management LLC bought a new stake in shares of MAG Silver during the third quarter worth $148,000. 52.50% of the stock is owned by hedge funds and other institutional investors.

MAG Silver Company Profile

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.