Raymond James Predicts Increased Earnings for MAG Silver

MAG Silver Corp. (NYSEAMERICAN:MAG - Free Report) - Investment analysts at Raymond James raised their FY2024 earnings estimates for MAG Silver in a research report issued on Thursday, January 30th. Raymond James analyst B. Macarthur now expects that the company will earn $0.84 per share for the year, up from their prior forecast of $0.75. The consensus estimate for MAG Silver's current full-year earnings is $0.75 per share. Raymond James also issued estimates for MAG Silver's FY2025 earnings at $0.94 EPS.

A number of other equities research analysts have also weighed in on the stock. StockNews.com upgraded shares of MAG Silver from a "sell" rating to a "hold" rating in a research note on Thursday, October 24th. Roth Capital cut MAG Silver from a "strong-buy" 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 upped their price target for the company from $17.00 to $17.50 in a research report on Thursday, October 24th. Finally, HC Wainwright raised their price objective on shares of MAG Silver from $20.00 to $21.00 and gave the stock a "buy" rating in a report on Thursday, January 30th. 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 data from MarketBeat, MAG Silver presently has an average rating of "Hold" and an average price target of $18.63.

MAG Silver Stock Down 0.5 %

MAG Silver stock traded down $0.08 during midday trading on Monday, reaching $16.11. 673,521 shares of the company traded hands, compared to its average volume of 517,951. MAG Silver has a 12 month low of $8.19 and a 12 month high of $18.27. The company has a market cap of $1.67 billion, a price-to-earnings ratio of 22.69 and a beta of 1.09.

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

Institutional Inflows and Outflows

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

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.