FY2024 EPS Estimates for MAG Silver Corp. (NYSEAMERICAN:MAG) Cut by Cormark

MAG Silver Corp. (NYSEAMERICAN:MAG) – Investment analysts at Cormark dropped their FY2024 EPS estimates for shares of MAG Silver in a report released on Tuesday, August 6th. Cormark analyst N. Dion now forecasts that the company will post earnings of $0.66 per share for the year, down from their prior estimate of $0.69. The consensus estimate for MAG Silver’s current full-year earnings is $0.65 per share. Cormark also issued estimates for MAG Silver’s FY2025 earnings at $0.59 EPS.

MAG Silver (NYSEAMERICAN:MAG) last released its earnings results on Friday, August 2nd. The company reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.02.

A number of other equities research analysts also recently weighed in on MAG. Scotiabank raised their target price on shares of MAG Silver from $13.50 to $14.50 and gave the company a “sector outperform” rating in a research note on Thursday, May 23rd. Ventum Cap Mkts lowered shares of MAG Silver from a “buy” rating to a “neutral” rating in a research report on Friday, May 3rd. Stifel Nicolaus raised their price target on MAG Silver from $20.25 to $20.50 and gave the company a “buy” rating in a research report on Wednesday, May 15th. Finally, HC Wainwright upped their price objective on MAG Silver from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Monday, August 5th. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $19.13.

MAG Silver Stock Up 0.8 %

Shares of NYSEAMERICAN MAG traded up $0.09 during midday trading on Thursday, hitting $12.04. The company’s stock had a trading volume of 347,378 shares, compared to its average volume of 762,203. The firm has a market cap of $1.24 billion, a P/E ratio of 21.50 and a beta of 1.12. MAG Silver has a one year low of $8.19 and a one year high of $14.30.

Hedge Funds Weigh In On MAG Silver

A number of hedge funds have recently bought and sold shares of MAG. Perritt Capital Management Inc. purchased a new position in MAG Silver in the 1st quarter worth about $26,000. Addenda Capital Inc. bought a new stake in shares of MAG Silver in the second quarter worth approximately $123,000. Banque Cantonale Vaudoise raised its holdings 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 last quarter. Duality Advisers LP purchased a new stake in MAG Silver in the fourth quarter worth approximately $255,000. Finally, Private Advisor Group LLC boosted its position in MAG Silver by 6.1% in the fourth quarter. Private Advisor Group LLC now owns 24,986 shares of the company’s stock worth $260,000 after purchasing an additional 1,447 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.