HC Wainwright Brokers Lift Earnings Estimates for MAG Silver

MAG Silver Corp. (NYSEAMERICAN:MAG - Free Report) - Equities researchers at HC Wainwright lifted their FY2024 EPS estimates for shares of MAG Silver in a research note issued on Wednesday, November 13th. HC Wainwright analyst H. Ihle now forecasts that the company will earn $0.74 per share for the year, up from their prior forecast of $0.67. HC Wainwright has a "Buy" rating and a $20.00 price target on the stock. The consensus estimate for MAG Silver's current full-year earnings is $0.71 per share. HC Wainwright also issued estimates for MAG Silver's FY2025 earnings at $0.75 EPS.

A number of other analysts have also issued reports on MAG. Scotiabank increased their price target on shares of MAG Silver from $14.50 to $15.50 and gave the stock a "sector outperform" rating in a research report on Monday, August 19th. Roth Mkm lowered shares of MAG Silver from a "buy" rating to a "neutral" rating and raised their price objective for the company from $17.00 to $17.50 in a research report on Thursday, October 24th. StockNews.com raised shares of MAG Silver from a "sell" rating to a "hold" rating in a research report on Thursday, October 24th. Finally, Roth Capital lowered shares of MAG Silver from a "strong-buy" rating to a "hold" rating in a research report on Thursday, October 24th. 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 an average rating of "Hold" and a consensus price target of $18.38.

MAG Silver Price Performance

Shares of MAG traded up $0.37 during midday trading on Thursday, hitting $15.12. The stock had a trading volume of 392,767 shares, compared to its average volume of 724,999. MAG Silver has a fifty-two week low of $8.19 and a fifty-two week high of $18.27. The stock has a market cap of $1.56 billion, a price-to-earnings ratio of 20.82 and a beta of 1.12.

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, beating the consensus estimate of $0.20 by $0.02.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Janus Henderson Group PLC bought a new stake in MAG Silver during the 1st quarter worth about $3,925,000. Jupiter Asset Management Ltd. grew its position in shares of MAG Silver by 6.5% during the 1st quarter. Jupiter Asset Management Ltd. now owns 2,517,445 shares of the company's stock worth $26,584,000 after buying an additional 153,274 shares during the period. Mackenzie Financial Corp grew its position in shares of MAG Silver by 310.5% during the 2nd quarter. Mackenzie Financial Corp now owns 190,385 shares of the company's stock worth $2,224,000 after buying an additional 144,007 shares during the period. Van ECK Associates Corp grew its position in shares of MAG Silver by 4.8% during the 3rd quarter. Van ECK Associates Corp now owns 10,231,410 shares of the company's stock worth $143,649,000 after buying an additional 467,817 shares during the period. Finally, Cubist Systematic Strategies LLC grew its position in shares of MAG Silver by 304.8% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 25,569 shares of the company's stock worth $299,000 after buying an additional 19,253 shares during the period. 52.50% of the stock is owned by institutional investors.

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.