FY2024 EPS Estimates for MAG Silver Cut by Roth Capital

MAG Silver Corp. (NYSEAMERICAN:MAG) – Investment analysts at Roth Capital cut their FY2024 EPS estimates for shares of MAG Silver in a report issued on Tuesday, November 12th. Roth Capital analyst J. Reagor now anticipates that the company will post earnings of $0.80 per share for the year, down from their previous estimate of $0.86. Roth Capital has a “Hold” rating on the stock. The consensus estimate for MAG Silver’s current full-year earnings is $0.72 per share.

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

Other analysts have also issued reports about the stock. Roth Mkm lowered shares of MAG Silver from a “buy” rating to a “neutral” rating and upped their price target for the stock from $17.00 to $17.50 in a research report on Thursday, October 24th. StockNews.com upgraded MAG Silver from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. HC Wainwright boosted their price target on MAG Silver from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Scotiabank increased their price target on 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 research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $18.38.

MAG Silver Stock Down 2.0 %

MAG stock opened at $14.90 on Friday. MAG Silver has a twelve month low of $8.19 and a twelve month high of $18.27. The company has a market capitalization of $1.54 billion, a price-to-earnings ratio of 20.99 and a beta of 1.12.

Hedge Funds Weigh In On MAG Silver

Several hedge funds and other institutional investors have recently bought and sold shares of MAG. Capital Performance Advisors LLP acquired a new position in shares of MAG Silver during the third quarter worth approximately $28,000. Perritt Capital Management Inc. bought a new position in shares of MAG Silver in the first quarter valued at approximately $26,000. Quantbot Technologies LP bought a new position in shares of MAG Silver in the third quarter valued at approximately $52,000. Pekin Hardy Strauss Inc. bought a new stake in MAG Silver during the third quarter worth $140,000. Finally, DF Dent & Co. Inc. purchased a new stake in MAG Silver in the 3rd quarter valued at $140,000. Institutional investors and hedge funds own 52.50% of the company’s stock.

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.