Brokers Set Expectations for MAG Silver FY2024 Earnings

MAG Silver Corp. (NYSEAMERICAN:MAG - Free Report) - Investment analysts at Raymond James lowered their FY2024 earnings estimates for MAG Silver in a research note issued on Wednesday, November 13th. Raymond James analyst B. Macarthur now anticipates that the company will post earnings per share of $0.75 for the year, down from their prior estimate of $0.77. The consensus estimate for MAG Silver's current full-year earnings is $0.71 per share.

MAG has been the topic of a number of other research reports. HC Wainwright raised their price target on MAG Silver from $18.00 to $20.00 and gave the stock a "buy" rating in a research report on Wednesday, November 13th. StockNews.com upgraded shares of MAG Silver from a "sell" rating to a "hold" rating in a research report on Thursday, October 24th. Roth Capital downgraded MAG Silver from a "strong-buy" rating to a "hold" rating in a report on Thursday, October 24th. Scotiabank boosted their price target on MAG Silver from $14.50 to $15.50 and gave the stock a "sector outperform" rating in a report on Monday, August 19th. Finally, Roth Mkm lowered shares of 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 report on Thursday, October 24th. Four 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 an average rating of "Hold" and an average price target of $18.38.

MAG Silver Price Performance

MAG Silver stock traded up $0.82 during mid-day trading on Monday, reaching $15.72. 673,007 shares of the company were exchanged, compared to its average volume of 731,996. The firm has a market cap of $1.62 billion, a PE ratio of 20.99 and a beta of 1.12. MAG Silver has a 12 month low of $8.19 and a 12 month high of $18.27.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Van ECK Associates Corp grew its stake in shares of MAG Silver by 4.8% in the 3rd quarter. Van ECK Associates Corp now owns 10,231,410 shares of the company's stock valued at $143,649,000 after buying an additional 467,817 shares during the period. Tidal Investments LLC bought a new stake in shares of MAG Silver during the first quarter valued at approximately $22,518,000. TD Asset Management Inc raised its position in shares of MAG Silver by 118.3% during the second quarter. TD Asset Management Inc now owns 1,063,055 shares of the company's stock worth $12,415,000 after purchasing an additional 576,156 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in shares of MAG Silver during the second quarter worth approximately $9,932,000. Finally, Gabelli Funds LLC lifted its holdings in shares of MAG Silver by 12.2% in the 2nd quarter. Gabelli Funds LLC now owns 459,000 shares of the company's stock worth $5,357,000 after purchasing an additional 50,000 shares in the last quarter. 52.50% of the stock is owned by institutional investors and hedge funds.

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.