FY2024 Earnings Estimate for MAG Silver Issued By Scotiabank

MAG Silver Corp. (TSE:MAG) (NYSEAMERICAN:MAG) – Scotiabank increased their FY2024 earnings per share (EPS) estimates for MAG Silver in a report released on Wednesday, January 8th. Scotiabank analyst O. Habib now anticipates that the company will post earnings of $0.77 per share for the year, up from their previous forecast of $0.75. The consensus estimate for MAG Silver’s current full-year earnings is $1.22 per share.

MAG Silver (TSE:MAG) (NYSEAMERICAN:MAG) last posted its quarterly earnings results on Tuesday, November 12th. The company reported C$0.30 EPS for the quarter, beating the consensus estimate of C$0.28 by C$0.02.

A number of other brokerages also recently issued reports on MAG. Raymond James lifted 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. TD Securities lifted their target price on MAG Silver from C$22.00 to C$25.00 in a research note on Friday, October 18th. Panmure Gordon increased their price target on shares of MAG Silver from C$26.40 to C$27.10 in a research report on Friday, November 22nd. Roth Capital downgraded shares of MAG Silver from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 24th. Finally, Stifel Nicolaus increased their target price on shares of 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’s stock. According to data from MarketBeat, MAG Silver currently has a consensus rating of “Moderate Buy” and a consensus target price of C$25.20.

MAG Silver Stock Performance

Shares of MAG stock opened at C$20.30 on Friday. The company’s 50 day moving average is C$21.21 and its 200 day moving average is C$19.61. 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 firm has a market cap of C$2.09 billion, a price-to-earnings ratio of 25.70, a PEG ratio of 0.84 and a beta of 1.14. MAG Silver has a 52-week low of C$11.15 and a 52-week high of C$25.36.

Insider Transactions at MAG Silver

In other news, Director George Nickolas Paspalas sold 50,024 shares of the firm’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of C$21.87, for a total value of C$1,094,099.92. Insiders own 0.96% of the company’s stock.

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.