Equities Analysts Set Expectations for MAG Silver Corp.’s Q2 2024 Earnings (NYSEAMERICAN:MAG)

MAG Silver Corp. (NYSEAMERICAN:MAG) – Stock analysts at Roth Capital raised their Q2 2024 earnings per share (EPS) estimates for MAG Silver in a research note issued to investors on Wednesday, April 24th. Roth Capital analyst J. Reagor now anticipates that the company will post earnings of $0.19 per share for the quarter, up from their prior estimate of $0.17. The consensus estimate for MAG Silver’s current full-year earnings is $0.53 per share. Roth Capital also issued estimates for MAG Silver’s Q3 2024 earnings at $0.18 EPS, Q4 2024 earnings at $0.16 EPS and FY2024 earnings at $0.68 EPS.

MAG has been the topic of several other research reports. StockNews.com raised MAG Silver to a “sell” rating in a research report on Wednesday, March 27th. Scotiabank upgraded shares of MAG Silver from a “sector perform” rating to a “sector outperform” rating and cut their price objective for the company from $15.00 to $13.50 in a research report on Thursday, March 28th. Stifel Nicolaus lowered their target price on shares of MAG Silver from $20.00 to $19.00 and set a “buy” rating for the company in a report on Wednesday, March 20th. Finally, HC Wainwright increased their price objective on MAG Silver from $16.00 to $17.00 and gave the company a “buy” rating in a report on Thursday. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.25.

MAG Silver Stock Performance

MAG Silver stock opened at $12.97 on Friday. The stock has a market capitalization of $1.34 billion, a PE ratio of 25.68 and a beta of 1.15. MAG Silver has a twelve month low of $8.19 and a twelve month high of $13.62.

MAG Silver (NYSEAMERICAN:MAG) last issued its quarterly earnings data on Tuesday, March 19th. The company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.01.

Institutional Investors Weigh In On MAG Silver

A number of institutional investors and hedge funds have recently modified their holdings of the company. Banque Cantonale Vaudoise boosted its holdings in MAG Silver by 8.6% in the first quarter. Banque Cantonale Vaudoise now owns 11,012 shares of the company’s stock valued at $116,000 after purchasing an additional 876 shares during the last quarter. Crown Wealth Group LLC acquired a new stake in MAG Silver during the fourth quarter worth about $118,000. Quadrature Capital Ltd purchased a new position in MAG Silver during the third quarter valued at approximately $127,000. Privium Fund Management B.V. raised its position in MAG Silver by 44.9% during the third quarter. Privium Fund Management B.V. now owns 15,500 shares of the company’s stock valued at $161,000 after acquiring an additional 4,800 shares in the last quarter. Finally, Veracity Capital LLC boosted its position in MAG Silver by 50.0% in the 4th quarter. Veracity Capital LLC now owns 16,654 shares of the company’s stock worth $173,000 after purchasing an additional 5,551 shares in the last quarter. Institutional investors and hedge funds own 52.50% of the company’s stock.

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.