FY2024 EPS Estimates for MAG Silver Decreased by Analyst

MAG Silver Corp. (NYSEAMERICAN:MAG - Free Report) - Equities researchers at Roth Capital decreased their FY2024 earnings per share (EPS) estimates for shares of MAG Silver in a research note issued to investors on Tuesday, November 12th. Roth Capital analyst J. Reagor now anticipates that the company will earn $0.80 per share for the year, down from their prior forecast of $0.86. Roth Capital currently has a "Hold" rating on the stock. The consensus estimate for MAG Silver's current full-year earnings is $0.72 per share.

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

A number of other research firms have also recently commented on MAG. Roth Mkm cut shares of MAG Silver from a "buy" rating to a "neutral" rating and upped their price objective for the company from $17.00 to $17.50 in a research report on Thursday, October 24th. Scotiabank upped their price objective on shares of MAG Silver from $14.50 to $15.50 and gave the company a "sector outperform" rating in a research report on Monday, August 19th. HC Wainwright upped their price objective on shares of MAG Silver from $18.00 to $20.00 and gave the company a "buy" rating in a research report on Wednesday. Finally, StockNews.com upgraded MAG Silver from a "sell" rating to a "hold" rating in a report on Thursday, October 24th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $18.38.

MAG Silver Stock Down 2.0 %

Shares of MAG traded down $0.30 during trading hours on Friday, reaching $14.90. The stock had a trading volume of 1,321,981 shares, compared to its average volume of 732,232. MAG Silver has a 52 week low of $8.19 and a 52 week high of $18.27. The stock has a market cap of $1.54 billion, a P/E ratio of 21.39 and a beta of 1.12.

Hedge Funds Weigh In On MAG Silver

Several hedge funds have recently modified their holdings of MAG. Tidal Investments LLC bought a new position in shares of MAG Silver in the 1st quarter valued at about $22,518,000. Allspring Global Investments Holdings LLC acquired a new stake in MAG Silver in the 2nd quarter valued at about $9,932,000. TD Asset Management Inc lifted its stake in MAG Silver by 118.3% in the 2nd quarter. TD Asset Management Inc now owns 1,063,055 shares of the company's stock valued at $12,415,000 after purchasing an additional 576,156 shares during 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 valued at $143,649,000 after purchasing an additional 467,817 shares during the last quarter. Finally, Janus Henderson Group PLC acquired a new stake in MAG Silver in the 1st quarter valued at about $3,925,000. Institutional investors own 52.50% of the company's stock.

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.