MAG Silver FY2024 EPS Decreased by National Bank Financial

MAG Silver Corp. (NYSEAMERICAN:MAG - Free Report) - Stock analysts at National Bank Financial decreased their FY2024 earnings per share estimates for shares of MAG Silver in a research note issued to investors on Monday, February 10th. National Bank Financial analyst D. Demarco now expects that the company will post earnings per share of $0.65 for the year, down from their prior forecast of $0.80. 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 FY2025 earnings at $0.52 EPS.

Several other analysts also recently weighed in on MAG. Roth Mkm downgraded MAG Silver from a "buy" rating to a "neutral" rating and raised their target price for the company from $17.00 to $17.50 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 note on Thursday, October 24th. StockNews.com raised shares of MAG Silver from a "sell" rating to a "hold" rating in a 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 investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $18.63.

MAG Silver Stock Performance

Shares of MAG stock traded down $0.70 during trading hours on Thursday, reaching $16.40. The company had a trading volume of 937,878 shares, compared to its average volume of 529,993. The firm has a market cap of $1.70 billion, a P/E ratio of 23.10 and a beta of 1.09. MAG Silver has a twelve month low of $8.19 and a twelve month high of $18.27.

Institutional Investors Weigh In On MAG Silver

A number of institutional investors have recently added to or reduced their stakes in the company. Barclays PLC boosted its position in shares of MAG Silver by 211.5% during the 3rd quarter. Barclays PLC now owns 30,780 shares of the company's stock valued at $432,000 after purchasing an additional 20,899 shares in the last quarter. Van ECK Associates Corp lifted its stake in MAG Silver by 4.8% during the third quarter. Van ECK Associates Corp now owns 10,231,410 shares of the company's stock valued at $143,649,000 after purchasing an additional 467,817 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in MAG Silver by 69.1% during the third quarter. JPMorgan Chase & Co. now owns 456,335 shares of the company's stock worth $6,407,000 after buying an additional 186,445 shares in the last quarter. PCJ Investment Counsel Ltd. grew its position in MAG Silver by 38.1% in the third quarter. PCJ Investment Counsel Ltd. now owns 369,290 shares of the company's stock worth $5,196,000 after buying an additional 101,870 shares during the last quarter. Finally, Strategic Financial Concepts LLC bought a new position in shares of MAG Silver in the fourth quarter valued at $240,000. 52.50% of the stock is currently 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.