What is Stifel Canada’s Estimate for MAG Silver Q3 Earnings?

MAG Silver Corp. (NYSEAMERICAN:MAG) – Equities research analysts at Stifel Canada issued their Q3 2024 earnings per share estimates for shares of MAG Silver in a report issued on Monday, October 21st. Stifel Canada analyst S. Soock expects that the company will earn $0.15 per share for the quarter. The consensus estimate for MAG Silver’s current full-year earnings is $0.69 per share. Stifel Canada also issued estimates for MAG Silver’s FY2024 earnings at $0.67 EPS.

MAG Silver (NYSEAMERICAN:MAG) last posted its quarterly earnings results on Friday, August 2nd. The company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.02.

Several other research analysts also recently commented on the company. Roth Mkm downgraded MAG Silver from a “buy” rating to a “neutral” rating and raised their target price for the stock from $17.00 to $17.50 in a research note on Thursday. HC Wainwright raised their target price on MAG Silver from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. StockNews.com raised MAG Silver from a “sell” rating to a “hold” rating in a report on Thursday. Finally, Scotiabank raised their price target on MAG Silver from $14.50 to $15.50 and gave the company a “sector outperform” rating in a report on Monday, August 19th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $17.88.

MAG Silver Stock Up 0.3 %

Shares of NYSEAMERICAN MAG opened at $17.85 on Thursday. MAG Silver has a 52 week low of $8.19 and a 52 week high of $18.01. The stock has a market capitalization of $1.84 billion, a price-to-earnings ratio of 30.78 and a beta of 1.15.

Hedge Funds Weigh In On MAG Silver

A number of large investors have recently modified their holdings of MAG. Perritt Capital Management Inc. purchased a new position in shares of MAG Silver during the 1st quarter valued at about $26,000. Addenda Capital Inc. purchased a new position in MAG Silver in the 2nd quarter worth approximately $123,000. International Assets Investment Management LLC purchased a new position in MAG Silver in the 3rd quarter worth approximately $148,000. Susquehanna Fundamental Investments LLC purchased a new position in MAG Silver in the 2nd quarter worth approximately $161,000. Finally, Veracity Capital LLC increased its stake in MAG Silver by 16.8% in the 3rd 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. 52.50% of the stock is owned by hedge funds and other institutional investors.

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.