Roth Capital Research Analysts Increase Earnings Estimates for MAG Silver Corp. (NYSEAMERICAN:MAG)

MAG Silver Corp. (NYSEAMERICAN:MAG) – Research analysts at Roth Capital raised their Q2 2024 earnings estimates for shares of MAG Silver in a research report issued on Wednesday, April 24th. Roth Capital analyst J. Reagor now anticipates that the company will post earnings of $0.19 per share for the quarter, up from their previous forecast of $0.17. The consensus estimate for MAG Silver’s current full-year earnings is $0.53 per share. Roth Capital also issued estimates for MAG Silver’s Q3 2024 earnings at $0.18 EPS, Q4 2024 earnings at $0.16 EPS and FY2024 earnings at $0.68 EPS.

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

MAG Silver Stock Performance

Shares of NYSEAMERICAN:MAG opened at $12.97 on Friday. MAG Silver has a 12-month low of $8.19 and a 12-month high of $13.62. The firm has a market cap of $1.34 billion, a price-to-earnings ratio of 27.60 and a beta of 1.15.

MAG Silver (NYSEAMERICAN:MAG) last announced its earnings results 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 hedge funds have recently bought and sold shares of the business. Hedges Asset Management LLC boosted its holdings in MAG Silver by 64.9% during the first quarter. Hedges Asset Management LLC now owns 103,900 shares of the company’s stock valued at $1,099,000 after acquiring an additional 40,900 shares during the period. Azarias Capital Management L.P. boosted its holdings in MAG Silver by 73.7% during the first quarter. Azarias Capital Management L.P. now owns 1,405,136 shares of the company’s stock valued at $14,866,000 after acquiring an additional 596,283 shares during the period. Banque Cantonale Vaudoise boosted its holdings in MAG Silver by 8.6% during the first quarter. Banque Cantonale Vaudoise now owns 11,012 shares of the company’s stock valued at $116,000 after acquiring an additional 876 shares during the period. Oppenheimer & Co. Inc. boosted its holdings in MAG Silver by 2.1% during the fourth quarter. Oppenheimer & Co. Inc. now owns 368,710 shares of the company’s stock valued at $3,838,000 after acquiring an additional 7,594 shares during the period. Finally, CIBC Asset Management Inc boosted its holdings in MAG Silver by 3.0% during the fourth quarter. CIBC Asset Management Inc now owns 90,881 shares of the company’s stock valued at $949,000 after acquiring an additional 2,652 shares during the period. 52.50% of the stock is owned by institutional investors and hedge funds.

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.