FY2024 EPS Estimates for MAG Silver Corp. Raised by Roth Capital (NYSEAMERICAN:MAG)

MAG Silver Corp. (NYSEAMERICAN:MAG) – Equities researchers at Roth Capital lifted their FY2024 earnings per share estimates for shares of MAG Silver in a note issued to investors on Monday, October 7th. Roth Capital analyst J. Reagor now expects that the company will post earnings per share of $0.81 for the year, up from their previous forecast of $0.73. The consensus estimate for MAG Silver’s current full-year earnings is $0.68 per share.

MAG has been the subject of a number of other research reports. HC Wainwright lifted their target price on shares of MAG Silver from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Scotiabank upped their price objective on MAG Silver from $14.50 to $15.50 and gave the company a “sector outperform” rating in a research report on Monday, August 19th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $18.00.

MAG Silver Trading Up 4.9 %

Shares of MAG Silver stock opened at $15.70 on Wednesday. MAG Silver has a 1 year low of $8.19 and a 1 year high of $15.76. The stock has a market capitalization of $1.62 billion, a P/E ratio of 28.04 and a beta of 1.14.

MAG Silver (NYSEAMERICAN:MAG) last issued its quarterly earnings data on Friday, August 2nd. The company reported $0.21 EPS for the quarter, topping the consensus estimate of $0.19 by $0.02.

Institutional Investors Weigh In On MAG Silver

A number of institutional investors have recently added to or reduced their stakes in MAG. Oppenheimer & Co. Inc. lifted its holdings in shares of MAG Silver by 23.4% during the first quarter. Oppenheimer & Co. Inc. now owns 455,150 shares of the company’s stock worth $4,815,000 after purchasing an additional 86,440 shares during the period. Azarias Capital Management L.P. lifted its position in MAG Silver by 73.7% during the first quarter. Azarias Capital Management L.P. now owns 1,405,136 shares of the company’s stock valued at $14,866,000 after purchasing an additional 596,283 shares during the period. Janus Henderson Group PLC purchased a new stake in MAG Silver in the first quarter valued at $3,925,000. Jupiter Asset Management Ltd. grew its position in MAG Silver by 6.5% during the 1st quarter. Jupiter Asset Management Ltd. now owns 2,517,445 shares of the company’s stock worth $26,584,000 after purchasing an additional 153,274 shares during the period. Finally, Mackenzie Financial Corp raised its stake in shares of MAG Silver by 310.5% during the 2nd quarter. Mackenzie Financial Corp now owns 190,385 shares of the company’s stock valued at $2,224,000 after buying an additional 144,007 shares during the last quarter. Institutional investors 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.