Equities Analysts Set Expectations for MAG Silver Corp.’s Q1 2024 Earnings (NYSEAMERICAN:MAG)

MAG Silver Corp. (NYSEAMERICAN:MAG) – Stock analysts at Raymond James raised their Q1 2024 EPS estimates for shares of MAG Silver in a research report issued to clients and investors on Wednesday, April 24th. Raymond James analyst B. Macarthur now expects that the company will post earnings per share of $0.14 for the quarter, up from their previous forecast of $0.10. The consensus estimate for MAG Silver’s current full-year earnings is $0.50 per share. Raymond James also issued estimates for MAG Silver’s Q2 2024 earnings at $0.18 EPS, Q3 2024 earnings at $0.18 EPS, Q4 2024 earnings at $0.18 EPS and FY2024 earnings at $0.66 EPS.

MAG has been the topic of a number of other research reports. StockNews.com raised shares of MAG Silver to a “sell” rating in a research note on Wednesday, March 27th. Stifel Nicolaus dropped their target price on shares of MAG Silver from $20.00 to $19.00 and set a “buy” rating on the stock in a research note on Wednesday, March 20th. HC Wainwright decreased their price objective on shares of MAG Silver from $19.50 to $16.00 and set a “buy” rating for the company in a report on Thursday, April 4th. Finally, Scotiabank raised shares of MAG Silver from a “sector perform” rating to a “sector outperform” rating and reduced their target price for the company from $15.00 to $13.50 in a report on Thursday, March 28th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company. According to data from MarketBeat.com, MAG Silver presently has an average rating of “Moderate Buy” and an average target price of $18.00.

MAG Silver Stock Performance

MAG stock opened at $12.10 on Thursday. MAG Silver has a 12-month low of $8.19 and a 12-month high of $13.62. The stock has a market capitalization of $1.25 billion, a price-to-earnings ratio of 25.73 and a beta of 1.15.

MAG Silver (NYSEAMERICAN:MAG) last issued its earnings results on Tuesday, March 19th. The company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.01.

Hedge Funds Weigh In On MAG Silver

Several institutional investors have recently bought and sold shares of MAG. Banque Cantonale Vaudoise raised its stake in shares of MAG Silver by 8.6% in the first quarter. Banque Cantonale Vaudoise now owns 11,012 shares of the company’s stock valued at $116,000 after acquiring an additional 876 shares during the period. Crown Wealth Group LLC purchased a new stake in shares of MAG Silver in the fourth quarter valued at $118,000. Quadrature Capital Ltd purchased a new stake in shares of MAG Silver in the third quarter valued at $127,000. Privium Fund Management B.V. raised its stake in shares of MAG Silver by 44.9% in the third quarter. Privium Fund Management B.V. now owns 15,500 shares of the company’s stock valued at $161,000 after acquiring an additional 4,800 shares during the period. Finally, Veracity Capital LLC raised its stake 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 acquiring an additional 5,551 shares during the period. 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.