Q3 Earnings Estimate for MAG Silver Issued By Cormark

MAG Silver Corp. (NYSEAMERICAN:MAG) – Research analysts at Cormark issued their Q3 2024 earnings per share estimates for MAG Silver in a report released on Wednesday, October 23rd. Cormark analyst N. Dion anticipates 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.

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

A number of other equities analysts have also recently issued reports on MAG. HC Wainwright raised their target price on shares of MAG Silver from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Roth Mkm downgraded MAG Silver from a “buy” rating to a “neutral” rating and raised their price target for the stock from $17.00 to $17.50 in a report on Thursday. Roth Capital downgraded MAG Silver from a “strong-buy” rating to a “hold” rating in a research note on Thursday. StockNews.com upgraded MAG Silver from a “sell” rating to a “hold” rating in a research note on Thursday. Finally, Scotiabank upped their price target on shares of MAG Silver from $14.50 to $15.50 and gave the stock a “sector outperform” rating in a research report on Monday, August 19th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $17.88.

MAG Silver Price Performance

MAG stock opened at $17.43 on Friday. The firm has a market cap of $1.80 billion, a price-to-earnings ratio of 30.05 and a beta of 1.15. MAG Silver has a 1-year low of $8.19 and a 1-year high of $18.01.

Institutional Investors Weigh In On MAG Silver

A number of institutional investors have recently added to or reduced their stakes in the company. Perritt Capital Management Inc. bought a new stake in MAG Silver in the first quarter worth about $26,000. Addenda Capital Inc. bought a new position in shares of MAG Silver during the 2nd quarter valued at about $123,000. International Assets Investment Management LLC acquired a new position in shares of MAG Silver in the 3rd quarter worth approximately $148,000. Susquehanna Fundamental Investments LLC bought a new stake in shares of MAG Silver in the 2nd quarter worth approximately $161,000. Finally, 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 valued at $234,000 after purchasing an additional 2,396 shares during the last quarter. 52.50% of the stock is currently owned by institutional investors and hedge funds.

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.