MAG Silver Corp. Forecasted to Earn Q1 2024 Earnings of $0.10 Per Share (TSE:MAG)

MAG Silver Corp. (TSE:MAG) (NYSEAMERICAN:MAG) – Stock analysts at Cormark issued their Q1 2024 earnings estimates for shares of MAG Silver in a research note issued on Monday, April 22nd. Cormark analyst N. Dion anticipates that the company will earn $0.10 per share for the quarter. The consensus estimate for MAG Silver’s current full-year earnings is $0.55 per share.

MAG Silver (TSE:MAG) (NYSEAMERICAN:MAG) last posted its quarterly earnings data on Tuesday, March 19th. The company reported C$0.19 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.18 by C$0.01.

Other analysts have also issued reports about the stock. BMO Capital Markets reduced their price objective on shares of MAG Silver from C$21.50 to C$21.00 in a research report on Thursday, January 25th. Raymond James reduced their target price on shares of MAG Silver from C$21.00 to C$19.50 and set an “outperform” rating on the stock in a research report on Thursday, March 28th. National Bankshares reduced their target price on shares of MAG Silver from C$21.75 to C$21.50 in a research report on Friday. Stifel Nicolaus raised their target price on shares of MAG Silver from C$19.50 to C$20.50 in a research report on Friday. Finally, TD Securities reduced their target price on shares of MAG Silver from C$20.00 to C$18.00 and set a “buy” rating on the stock in a research report on Wednesday, March 20th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of C$19.44.

MAG Silver Stock Performance

MAG Silver stock opened at C$16.26 on Tuesday. The company has a debt-to-equity ratio of 0.03, a current ratio of 15.04 and a quick ratio of 25.31. MAG Silver has a 1-year low of C$11.15 and a 1-year high of C$18.51. The firm has a market capitalization of C$1.67 billion, a P/E ratio of 25.41, a price-to-earnings-growth ratio of 0.84 and a beta of 1.00. The company’s 50-day moving average is C$13.54 and its 200 day moving average is C$13.80.

Insider Activity

In other news, Senior Officer Peter Megaw sold 76,291 shares of the stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of C$16.39, for a total transaction of C$1,250,172.99. In other news, Senior Officer Peter Megaw sold 76,291 shares of the stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of C$16.39, for a total transaction of C$1,250,172.99. Also, Senior Officer Michael John Curlook sold 18,779 shares of the stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of C$16.91, for a total transaction of C$317,552.89. Over the last ninety days, insiders have sold 106,704 shares of company stock worth $1,752,125. Corporate insiders own 0.47% 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.