Brokers Offer Predictions for MAG Silver Corp.’s Q1 2024 Earnings (NYSEAMERICAN:MAG)

MAG Silver Corp. (NYSEAMERICAN:MAG) – Equities research analysts at Cormark issued their Q1 2024 earnings estimates for MAG Silver in a research note issued on Monday, April 22nd. Cormark analyst N. Dion forecasts that the company will post earnings per share of $0.07 for the quarter. The consensus estimate for MAG Silver’s current full-year earnings is $0.47 per share.

MAG Silver (NYSEAMERICAN:MAG) last issued its earnings results on Tuesday, March 19th. The company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.13 by $0.01.

A number of other analysts have also recently commented on MAG. HC Wainwright dropped their target price on shares of MAG Silver from $19.50 to $16.00 and set a “buy” rating on the stock in a report on Thursday, April 4th. Stifel Nicolaus dropped their target price on shares of MAG Silver from $20.00 to $19.00 and set a “buy” rating on the stock in a report on Wednesday, March 20th. StockNews.com upgraded shares of MAG Silver to a “sell” rating in a report on Wednesday, March 27th. Finally, Scotiabank upgraded shares of MAG Silver from a “sector perform” rating to a “sector outperform” rating and dropped their target price for the company from $15.00 to $13.50 in a report on Thursday, March 28th. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $18.00.

MAG Silver Trading Down 4.5 %

Shares of MAG Silver stock opened at $11.84 on Tuesday. The firm has a market cap of $1.22 billion, a price-to-earnings ratio of 26.38 and a beta of 1.15. MAG Silver has a 12-month low of $8.19 and a 12-month high of $13.62.

Institutional Investors Weigh In On MAG Silver

A number of large investors have recently added to or reduced their stakes in MAG. Van ECK Associates Corp boosted its stake in shares of MAG Silver by 4.4% during the 3rd quarter. Van ECK Associates Corp now owns 9,746,401 shares of the company’s stock worth $101,069,000 after acquiring an additional 406,335 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its stake in shares of MAG Silver by 6.6% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 63,884 shares of the company’s stock worth $665,000 after acquiring an additional 3,950 shares during the last quarter. Quadrature Capital Ltd purchased a new position in shares of MAG Silver during the 3rd quarter worth $127,000. Oppenheimer & Co. Inc. boosted its stake in shares of MAG Silver by 1.9% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 361,116 shares of the company’s stock worth $3,745,000 after acquiring an additional 6,895 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in shares of MAG Silver by 8.8% during the 3rd quarter. Invesco Ltd. now owns 1,465,920 shares of the company’s stock worth $15,202,000 after acquiring an additional 118,211 shares during the last quarter. Institutional investors own 52.50% of the company’s stock.

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.