MAG Silver Corp. to Post Q1 2024 Earnings of $0.14 Per Share, Roth Capital Forecasts (NYSEAMERICAN:MAG)

MAG Silver Corp. (NYSEAMERICAN:MAG) – Stock analysts at Roth Capital reduced their Q1 2024 earnings per share (EPS) estimates for MAG Silver in a report issued on Wednesday, March 27th. Roth Capital analyst J. Reagor now expects that the company will earn $0.14 per share for the quarter, down from their previous forecast of $0.18. The consensus estimate for MAG Silver’s current full-year earnings is $0.55 per share. Roth Capital also issued estimates for MAG Silver’s Q2 2024 earnings at $0.17 EPS, Q3 2024 earnings at $0.16 EPS and Q4 2024 earnings at $0.15 EPS.

A number of other equities analysts have also issued reports on MAG. Scotiabank raised MAG Silver from a “sector perform” rating to a “sector outperform” rating and set a $13.50 price objective for the company in a report on Thursday. StockNews.com raised MAG Silver to a “sell” rating in a research note on Wednesday. HC Wainwright reaffirmed a “buy” rating and set a $18.50 price target (down from $19.50) on shares of MAG Silver in a research note on Wednesday, March 20th. Finally, Stifel Nicolaus decreased their price target on MAG Silver from $20.00 to $19.00 and set a “buy” rating for the company in a research note on Wednesday, March 20th. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the company. According to data from MarketBeat, MAG Silver presently has an average rating of “Moderate Buy” and a consensus target price of $18.63.

MAG Silver Stock Performance

Shares of MAG Silver stock opened at $10.60 on Thursday. The company has a market cap of $1.09 billion, a PE ratio of 22.55 and a beta of 1.13. MAG Silver has a twelve month low of $8.19 and a twelve month high of $14.42.

MAG Silver (NYSEAMERICAN:MAG) last announced its quarterly earnings data on Tuesday, March 19th. The company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.01.

Hedge Funds Weigh In On MAG Silver

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Legal & General Group Plc increased its stake in MAG Silver by 7.0% during the fourth quarter. Legal & General Group Plc now owns 15,038 shares of the company’s stock valued at $235,000 after acquiring an additional 982 shares during the period. CIBC Asset Management Inc raised its position in shares of MAG Silver by 1.4% during the 1st quarter. CIBC Asset Management Inc now owns 80,066 shares of the company’s stock valued at $1,011,000 after acquiring an additional 1,138 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in shares of MAG Silver by 1.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 127,638 shares of the company’s stock valued at $1,421,000 after acquiring an additional 1,240 shares during the last quarter. Private Advisor Group LLC increased its position in shares of MAG Silver by 6.1% in the 4th quarter. Private Advisor Group LLC now owns 24,986 shares of the company’s stock valued at $260,000 after buying an additional 1,447 shares in the last quarter. Finally, Guggenheim Capital LLC increased its position in shares of MAG Silver by 1.3% in the 2nd quarter. Guggenheim Capital LLC now owns 120,879 shares of the company’s stock valued at $1,347,000 after buying an additional 1,500 shares in the last quarter. 52.50% of the stock is currently owned by institutional investors.

MAG Silver Company Profile

MAG Silver Corp. engages in the exploration and development of precious metal mining properties. The company explores for silver, gold, lead, copper, and zinc deposits. It primarily holds 44% interest in the Juanicipio project located in the Fresnillo District, Zacatecas State, Mexico. MAG Silver Corp.