Equities Analysts Issue Forecasts for MAG Silver Corp.’s Q3 2024 Earnings (NYSEAMERICAN:MAG)

MAG Silver Corp. (NYSEAMERICAN:MAG) – Analysts at Raymond James dropped their Q3 2024 earnings per share (EPS) estimates for shares of MAG Silver in a research note issued to investors on Wednesday, April 24th. Raymond James analyst B. Macarthur now anticipates that the company will post earnings of $0.17 per share for the quarter, down from their prior forecast of $0.18. The consensus estimate for MAG Silver’s current full-year earnings is $0.53 per share. Raymond James also issued estimates for MAG Silver’s Q4 2024 earnings at $0.17 EPS.

A number of other brokerages have also issued reports on MAG. Stifel Nicolaus cut their target price on MAG Silver from $20.00 to $19.00 and set a “buy” rating on the stock in a research report on Wednesday, March 20th. Scotiabank raised MAG Silver from a “sector perform” rating to a “sector outperform” rating and dropped their price target for the company from $15.00 to $13.50 in a research report on Thursday, March 28th. HC Wainwright upped their price target on MAG Silver from $16.00 to $17.00 and gave the company a “buy” rating in a research report on Thursday. Finally, StockNews.com raised MAG Silver to a “sell” rating in a research report on Wednesday, March 27th. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, MAG Silver has a consensus rating of “Moderate Buy” and a consensus target price of $18.25.

MAG Silver Stock Performance

MAG opened at $12.97 on Friday. MAG Silver has a one year low of $8.19 and a one year high of $13.62. The firm has a market capitalization of $1.34 billion, a PE ratio of 27.60 and a beta of 1.15.

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

Hedge Funds Weigh In On MAG Silver

Hedge funds have recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. grew its position in MAG Silver by 2.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,542,545 shares of the company’s stock worth $26,403,000 after acquiring an additional 58,849 shares during the last quarter. CIBC Asset Management Inc grew its position in MAG Silver by 9.6% during the 3rd quarter. CIBC Asset Management Inc now owns 88,229 shares of the company’s stock worth $915,000 after acquiring an additional 7,753 shares during the last quarter. Lynwood Capital Management Inc. bought a new stake in MAG Silver during the 3rd quarter worth approximately $517,000. Privium Fund Management B.V. grew its position in MAG Silver by 44.9% during the 3rd quarter. Privium Fund Management B.V. now owns 15,500 shares of the company’s stock worth $161,000 after acquiring an additional 4,800 shares during the last quarter. Finally, Oppenheimer & Co. Inc. grew its position in 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. 52.50% of the stock is owned by institutional investors and hedge funds.

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.