Q2 2024 EPS Estimates for MAG Silver Corp. Increased by Roth Capital (NYSEAMERICAN:MAG)

MAG Silver Corp. (NYSEAMERICAN:MAG) – Equities research analysts at Roth Capital upped their Q2 2024 earnings per share estimates for shares of MAG Silver in a research report issued to clients and investors on Wednesday, July 24th. Roth Capital analyst J. Reagor now anticipates that the company will post earnings of $0.26 per share for the quarter, up from their previous forecast of $0.19. The consensus estimate for MAG Silver’s current full-year earnings is $0.60 per share. Roth Capital also issued estimates for MAG Silver’s Q3 2024 earnings at $0.20 EPS, Q4 2024 earnings at $0.17 EPS, FY2024 earnings at $0.77 EPS, Q1 2025 earnings at $0.13 EPS, Q2 2025 earnings at $0.13 EPS, Q3 2025 earnings at $0.13 EPS, Q4 2025 earnings at $0.13 EPS and FY2025 earnings at $0.50 EPS.

Several other brokerages have also issued reports on MAG. HC Wainwright reaffirmed a “buy” rating and set a $17.00 price objective on shares of MAG Silver in a report on Wednesday. Ventum Cap Mkts lowered MAG Silver from a “buy” rating to a “neutral” rating in a research report on Friday, May 3rd. Stifel Nicolaus increased their price objective on MAG Silver from $20.25 to $20.50 and gave the company a “buy” rating in a report on Wednesday, May 15th. Finally, Scotiabank raised their target price on shares of MAG Silver from $13.50 to $14.50 and gave the stock a “sector outperform” rating in a research report on Thursday, May 23rd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.88.

MAG Silver Trading Down 3.7 %

Shares of NYSEAMERICAN MAG opened at $12.96 on Friday. The stock has a market cap of $1.34 billion, a PE ratio of 24.04 and a beta of 1.12. MAG Silver has a fifty-two week low of $8.19 and a fifty-two week high of $14.30.

MAG Silver (NYSEAMERICAN:MAG) last announced its quarterly earnings data on Tuesday, May 14th. The company reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.04.

Institutional Investors Weigh In On MAG Silver

A number of large investors have recently added to or reduced their stakes in MAG. Perritt Capital Management Inc. purchased a new stake in shares of MAG Silver in the first quarter valued at $26,000. Addenda Capital Inc. purchased a new position in MAG Silver in the 2nd quarter valued at about $123,000. Banque Cantonale Vaudoise boosted its stake in shares of MAG Silver by 8.6% during the 1st quarter. Banque Cantonale Vaudoise now owns 11,012 shares of the company’s stock worth $116,000 after purchasing an additional 876 shares during the last quarter. Crown Wealth Group LLC purchased a new stake in shares of MAG Silver during the fourth quarter worth about $118,000. Finally, Veracity Capital LLC raised its position in shares of MAG Silver by 50.0% in the fourth quarter. Veracity Capital LLC now owns 16,654 shares of the company’s stock valued at $173,000 after buying an additional 5,551 shares during the last quarter. 52.50% of the stock is owned by institutional investors and hedge funds.

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.