MAG Silver Corp. (NYSEAMERICAN:MAG – Free Report) – Investment analysts at Stifel Canada increased their FY2024 earnings estimates for shares of MAG Silver in a research report issued to clients and investors on Monday, August 5th. Stifel Canada analyst S. Soock now expects that the company will post earnings of $0.79 per share for the year, up from their previous estimate of $0.70. The consensus estimate for MAG Silver’s current full-year earnings is $0.65 per share. Stifel Canada also issued estimates for MAG Silver’s FY2025 earnings at $1.62 EPS and FY2027 earnings at $1.32 EPS.
MAG Silver (NYSEAMERICAN:MAG – Get Free Report) last announced its earnings results on Friday, August 2nd. The company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.02.
Read Our Latest Report on MAG Silver
MAG Silver Stock Up 1.3 %
NYSEAMERICAN:MAG opened at $11.95 on Wednesday. MAG Silver has a 12-month low of $8.19 and a 12-month high of $14.30. The firm has a market capitalization of $1.23 billion, a P/E ratio of 21.34 and a beta of 1.12.
Hedge Funds Weigh In On MAG Silver
A number of hedge funds have recently made changes to their positions in the business. Perritt Capital Management Inc. acquired a new position in MAG Silver during the 1st quarter worth approximately $26,000. Banque Cantonale Vaudoise raised its stake in shares of MAG Silver by 8.6% during 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 period. Addenda Capital Inc. acquired a new position in shares of MAG Silver during the second quarter worth $123,000. Duality Advisers LP purchased a new position in shares of MAG Silver in the fourth quarter valued at $255,000. Finally, Private Advisor Group LLC grew its holdings in MAG Silver by 6.1% during the 4th quarter. Private Advisor Group LLC now owns 24,986 shares of the company’s stock valued at $260,000 after purchasing an additional 1,447 shares in the last quarter. Hedge funds and other institutional investors 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.
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