Brokers Offer Predictions for MAG Silver FY2024 Earnings

MAG Silver Corp. (NYSEAMERICAN:MAG - Free Report) - Investment analysts at National Bank Financial upped their FY2024 earnings estimates for MAG Silver in a report released on Tuesday, October 22nd. National Bank Financial analyst D. Demarco now forecasts that the company will post earnings of $0.65 per share for the year, up from their prior forecast of $0.64. The consensus estimate for MAG Silver's current full-year earnings is $0.69 per share. National Bank Financial also issued estimates for MAG Silver's FY2025 earnings at $0.52 EPS.

MAG Silver (NYSEAMERICAN:MAG - Get Free Report) last posted its quarterly earnings data on Friday, August 2nd. The company reported $0.21 EPS for the quarter, beating analysts' consensus estimates of $0.19 by $0.02.

Several other equities research analysts also recently issued reports on the stock. Scotiabank boosted their price objective on shares of MAG Silver from $14.50 to $15.50 and gave the stock a "sector outperform" rating in a research note on Monday, August 19th. HC Wainwright upped their price target on shares of MAG Silver from $17.00 to $18.00 and gave the stock a "buy" rating in a research report on Monday, August 5th. StockNews.com raised MAG Silver from a "sell" rating to a "hold" rating in a research report on Thursday. Roth Capital cut MAG Silver from a "strong-buy" rating to a "hold" rating in a research note on Thursday. Finally, Roth Mkm lowered MAG Silver from a "buy" rating to a "neutral" rating and increased their target price for the company from $17.00 to $17.50 in a research note on Thursday. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, MAG Silver has an average rating of "Hold" and an average target price of $17.88.

MAG Silver Stock Down 2.3 %

Shares of MAG stock traded down $0.41 on Friday, reaching $17.45. 1,127,790 shares of the stock were exchanged, compared to its average volume of 725,463. The company has a market cap of $1.80 billion, a price-to-earnings ratio of 30.78 and a beta of 1.15. MAG Silver has a 1-year low of $8.19 and a 1-year high of $18.01.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of MAG. Perritt Capital Management Inc. bought a new position in MAG Silver during the 1st quarter worth $26,000. Addenda Capital Inc. bought a new position in shares of MAG Silver during the second quarter worth about $123,000. International Assets Investment Management LLC acquired a new stake in shares of MAG Silver in the 3rd quarter worth about $148,000. Susquehanna Fundamental Investments LLC bought a new stake in MAG Silver in the 2nd quarter valued at about $161,000. Finally, Veracity Capital LLC lifted its position in MAG Silver by 16.8% in the 3rd quarter. Veracity Capital LLC now owns 16,653 shares of the company's stock valued at $234,000 after purchasing an additional 2,396 shares during the last quarter. 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.