FY2024 Earnings Estimate for MAG Silver Issued By Cormark

MAG Silver Corp. (NYSEAMERICAN:MAG - Free Report) - Stock analysts at Cormark dropped their FY2024 earnings estimates for shares of MAG Silver in a research note issued on Thursday, January 30th. Cormark analyst N. Dion now anticipates that the company will earn $0.76 per share 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.

Other equities research analysts have also issued research reports about the stock. Roth Mkm lowered shares of MAG Silver from a "buy" rating to a "neutral" rating and lifted their price objective for the company from $17.00 to $17.50 in a report 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. HC Wainwright lifted their target price on MAG Silver from $20.00 to $21.00 and gave the company a "buy" rating in a research report on Thursday, January 30th. Finally, StockNews.com upgraded MAG Silver from a "sell" rating to a "hold" rating in a report on Thursday, October 24th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, MAG Silver presently has a consensus rating of "Hold" and a consensus target price of $18.63.

MAG Silver Stock Down 0.5 %

MAG stock traded down $0.08 during midday trading on Monday, reaching $16.11. The company's stock had a trading volume of 673,521 shares, compared to its average volume of 517,951. MAG Silver has a 1 year low of $8.19 and a 1 year high of $18.27. The firm 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 released its earnings results 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

Large investors have recently made changes to their positions in the business. Capital Performance Advisors LLP purchased a new position in shares of MAG Silver in the 3rd quarter valued at approximately $28,000. Quantbot Technologies LP purchased a new position in MAG Silver in the 3rd quarter worth $52,000. DF Dent & Co. Inc. acquired a new stake in MAG Silver during the 3rd quarter worth about $140,000. Pekin Hardy Strauss Inc. purchased a new stake in MAG Silver during the 3rd quarter valued at about $140,000. Finally, International Assets Investment Management LLC acquired a new position in shares of MAG Silver in the third quarter valued at about $148,000. 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.