Cormark Issues Pessimistic Estimate for MAG Silver Earnings

MAG Silver Corp. (TSE:MAG) (NYSEAMERICAN:MAG) – Equities research analysts at Cormark cut their FY2024 earnings per share estimates for MAG Silver in a report released on Thursday, January 30th. Cormark analyst N. Dion now expects that the company will post earnings of $1.09 per share for the year, down from their prior estimate of $1.11. The consensus estimate for MAG Silver’s current full-year earnings is $1.22 per share. Cormark also issued estimates for MAG Silver’s FY2025 earnings at $1.11 EPS.

MAG Silver (TSE:MAG) (NYSEAMERICAN:MAG) last announced its quarterly earnings results on Tuesday, November 12th. The company reported C$0.30 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.28 by C$0.02.

MAG has been the topic of a number of other research reports. TD Securities increased their target price on MAG Silver from C$26.00 to C$27.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Raymond James boosted their price target on MAG Silver from C$23.00 to C$26.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Panmure Gordon increased their price objective on MAG Silver from C$26.40 to C$27.10 in a report on Friday, November 22nd. CIBC lifted their target price on shares of MAG Silver from C$25.00 to C$26.00 in a report on Monday, December 2nd. Finally, Stifel Nicolaus increased their price target on MAG Silver from C$25.00 to C$25.50 in a research report on Monday, November 25th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of C$25.45.

MAG Silver Trading Down 1.0 %

Shares of MAG Silver stock opened at C$23.04 on Monday. The stock has a market capitalization of C$2.38 billion, a P/E ratio of 29.16, a price-to-earnings-growth ratio of 0.84 and a beta of 1.14. MAG Silver has a 12-month low of C$11.15 and a 12-month high of C$25.36. The company has a quick ratio of 25.31, a current ratio of 28.03 and a debt-to-equity ratio of 0.01. The company has a 50-day simple moving average of C$21.18 and a 200 day simple moving average of C$20.25.

Insider Activity

In other news, Director George Nickolas Paspalas sold 50,024 shares of the stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of C$21.87, for a total transaction of C$1,094,099.92. 0.96% of the stock is currently owned by corporate insiders.

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.