Roth Capital Downgrades MAG Silver (TSE:MAG) to Hold

Roth Capital cut shares of MAG Silver (TSE:MAG) (NYSEAMERICAN:MAG) from a strong-buy rating to a hold rating in a report issued on Thursday morning, Zacks.com reports. Roth Capital also issued estimates for MAG Silver’s Q3 2024 earnings at $0.37 EPS and FY2024 earnings at $1.17 EPS.

A number of other analysts have also recently weighed in on MAG. Raymond James upped their target price on shares of MAG Silver from C$23.00 to C$26.00 and gave the company an “outperform” rating in a research note on Thursday. Stifel Nicolaus increased their target price on MAG Silver from C$21.50 to C$25.00 in a report on Monday, October 21st. Finally, TD Securities boosted their price target on MAG Silver from C$22.00 to C$25.00 in a research note on Friday, October 18th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$23.75.

MAG Silver Trading Down 2.0 %

Shares of MAG stock opened at C$24.22 on Thursday. The firm has a market capitalization of C$2.50 billion, a P/E ratio of 30.66, a price-to-earnings-growth ratio of 0.84 and a beta of 1.14. MAG Silver has a 1 year low of C$11.15 and a 1 year high of C$24.88. The firm’s fifty day simple moving average is C$19.46 and its 200 day simple moving average is C$18.09. The company has a current ratio of 28.03, a quick ratio of 25.31 and a debt-to-equity ratio of 0.01.

MAG Silver (TSE:MAG) (NYSEAMERICAN:MAG) last announced its quarterly earnings data on Thursday, August 1st. The company reported C$0.28 EPS for the quarter, topping analysts’ consensus estimates of C$0.27 by C$0.01. As a group, sell-side analysts predict that MAG Silver will post 1.2235023 EPS for the current year.

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.