Roth Capital Analysts Lift Earnings Estimates for MAG Silver

MAG Silver Corp. (NYSEAMERICAN:MAG - Free Report) - Research analysts at Roth Capital raised their FY2024 earnings per share estimates for MAG Silver in a research report issued on Thursday, January 30th. Roth Capital analyst J. Reagor now anticipates that the company will post earnings of $0.83 per share for the year, up from their previous estimate of $0.80. Roth Capital currently has a "Hold" rating on the stock. The consensus estimate for MAG Silver's current full-year earnings is $0.75 per share.

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

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

MAG Silver Stock Performance

MAG stock traded down $0.08 during trading on Monday, reaching $16.11. 673,521 shares of the stock were exchanged, compared to its average volume of 517,951. MAG Silver has a twelve month low of $8.19 and a twelve month high of $18.27. The company has a market cap of $1.67 billion, a P/E ratio of 22.69 and a beta of 1.09.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Barclays PLC lifted its holdings in shares of MAG Silver by 211.5% in the third quarter. Barclays PLC now owns 30,780 shares of the company's stock worth $432,000 after buying an additional 20,899 shares in the last quarter. Van ECK Associates Corp lifted its stake in MAG Silver by 4.8% in the 3rd quarter. Van ECK Associates Corp now owns 10,231,410 shares of the company's stock worth $143,649,000 after purchasing an additional 467,817 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in MAG Silver by 69.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 456,335 shares of the company's stock valued at $6,407,000 after purchasing an additional 186,445 shares during the period. PCJ Investment Counsel Ltd. grew its position in shares of MAG Silver by 38.1% during the 3rd quarter. PCJ Investment Counsel Ltd. now owns 369,290 shares of the company's stock valued at $5,196,000 after purchasing an additional 101,870 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of MAG Silver by 199.7% in the third quarter. The Manufacturers Life Insurance Company now owns 382,027 shares of the company's stock worth $5,374,000 after purchasing an additional 254,553 shares during the period. Institutional investors own 52.50% of the company's stock.

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.