FY2024 EPS Estimates for MAG Silver Lowered by Scotiabank

MAG Silver Corp. (NYSEAMERICAN:MAG) – Stock analysts at Scotiabank cut their FY2024 earnings per share estimates for shares of MAG Silver in a research report issued to clients and investors on Wednesday, January 8th. Scotiabank analyst O. Habib now forecasts that the company will post earnings of $0.54 per share for the year, down from their prior estimate of $0.55. The consensus estimate for MAG Silver’s current full-year earnings is $0.75 per share. Scotiabank also issued estimates for MAG Silver’s FY2025 earnings at $0.51 EPS and FY2026 earnings at $0.48 EPS.

A number of other equities analysts have also commented on the stock. StockNews.com raised shares of MAG Silver from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Roth Mkm downgraded MAG Silver from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $17.00 to $17.50 in a research note on Thursday, October 24th. HC Wainwright lifted their target price on MAG Silver from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Finally, Roth Capital lowered shares of MAG Silver from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 24th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $18.38.

MAG Silver Price Performance

MAG opened at $13.74 on Monday. The firm has a market cap of $1.42 billion, a PE ratio of 19.35 and a beta of 1.07. MAG Silver has a fifty-two week low of $8.19 and a fifty-two week high of $18.27.

MAG Silver (NYSEAMERICAN:MAG) last posted its quarterly earnings data on Tuesday, November 12th. The company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.02.

Institutional Investors Weigh In On MAG Silver

A number of institutional investors have recently added to or reduced their stakes in the company. Capital Performance Advisors LLP bought a new position in shares of MAG Silver during the 3rd quarter worth about $28,000. Veracity Capital LLC lifted its stake in MAG Silver by 16.8% during the third quarter. Veracity Capital LLC now owns 16,653 shares of the company’s stock worth $234,000 after purchasing an additional 2,396 shares during the period. Quantbot Technologies LP bought a new position in MAG Silver during the third quarter worth about $52,000. Pekin Hardy Strauss Inc. acquired a new position in shares of MAG Silver in the 3rd quarter worth approximately $140,000. Finally, DF Dent & Co. Inc. bought a new position in shares of MAG Silver during the 3rd quarter worth approximately $140,000. 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.