FY2024 EPS Estimates for MAG Silver Lifted by Analyst

MAG Silver Corp. (NYSEAMERICAN:MAG) – Analysts at Roth Capital increased their FY2024 earnings per share (EPS) estimates for MAG Silver in a report issued on Thursday, January 30th. Roth Capital analyst J. Reagor now expects that the company will post earnings per share of $0.83 for the year, up from their previous forecast of $0.80. Roth Capital has a “Hold” rating on the stock. The consensus estimate for MAG Silver’s current full-year earnings is $0.75 per share.

MAG Silver (NYSEAMERICAN:MAG) last posted its quarterly earnings data on Tuesday, November 12th. The company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.02.

Other equities research analysts have also issued research reports about the company. HC Wainwright increased their price target on MAG Silver from $20.00 to $21.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. StockNews.com upgraded MAG Silver from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Finally, Roth Mkm lowered shares of MAG Silver from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $17.00 to $17.50 in a research note on Thursday, October 24th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $18.63.

MAG Silver Stock Performance

Shares of MAG opened at $16.10 on Monday. The stock has a market cap of $1.66 billion, a PE ratio of 22.68 and a beta of 1.09. MAG Silver has a 1 year low of $8.19 and a 1 year high of $18.27.

Hedge Funds Weigh In On MAG Silver

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Van ECK Associates Corp lifted its stake in shares of MAG Silver by 4.8% in the third quarter. Van ECK Associates Corp now owns 10,231,410 shares of the company’s stock worth $143,649,000 after acquiring an additional 467,817 shares in the last quarter. Tidal Investments LLC increased its stake in MAG Silver by 3.6% during the third quarter. Tidal Investments LLC now owns 2,810,051 shares of the company’s stock valued at $39,453,000 after purchasing an additional 98,312 shares during the last quarter. Sprott Inc. raised its stake in MAG Silver by 8.5% during the fourth quarter. Sprott Inc. now owns 2,649,507 shares of the company’s stock worth $36,004,000 after acquiring an additional 208,252 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of MAG Silver by 69.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 456,335 shares of the company’s stock worth $6,407,000 after purchasing an additional 186,445 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in MAG Silver by 199.7% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 382,027 shares of the company’s stock valued at $5,374,000 after purchasing an additional 254,553 shares during the period. 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.