MAG Silver Corp. (NYSEAMERICAN:MAG) Expected to Post Q3 2024 Earnings of $0.17 Per Share

MAG Silver Corp. (NYSEAMERICAN:MAG) – Stock analysts at Raymond James decreased their Q3 2024 EPS estimates for MAG Silver in a report released on Wednesday, April 24th. Raymond James analyst B. Macarthur now expects that the company will post earnings per share of $0.17 for the quarter, down from their previous forecast of $0.18. The consensus estimate for MAG Silver’s current full-year earnings is $0.53 per share. Raymond James also issued estimates for MAG Silver’s Q4 2024 earnings at $0.17 EPS.

MAG Silver (NYSEAMERICAN:MAG) last posted its earnings results on Tuesday, March 19th. The company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.01.

MAG has been the subject of several other research reports. Scotiabank raised shares of MAG Silver from a “sector perform” rating to a “sector outperform” rating and reduced their price objective for the company from $15.00 to $13.50 in a research note on Thursday, March 28th. StockNews.com raised shares of MAG Silver to a “sell” rating in a research note on Wednesday, March 27th. HC Wainwright boosted their price objective on shares of MAG Silver from $16.00 to $17.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Stifel Nicolaus reduced their price objective on shares of MAG Silver from $20.00 to $19.00 and set a “buy” rating for the company in a research note on Wednesday, March 20th. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $18.25.

MAG Silver Price Performance

MAG opened at $12.97 on Friday. The stock has a market capitalization of $1.34 billion, a PE ratio of 27.60 and a beta of 1.15. MAG Silver has a twelve month low of $8.19 and a twelve month high of $13.62.

Institutional Investors Weigh In On MAG Silver

Hedge funds have recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. raised its holdings in MAG Silver by 2.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,542,545 shares of the company’s stock valued at $26,403,000 after buying an additional 58,849 shares during the last quarter. CIBC Asset Management Inc grew its position in shares of MAG Silver by 9.6% in the 3rd quarter. CIBC Asset Management Inc now owns 88,229 shares of the company’s stock worth $915,000 after buying an additional 7,753 shares during the period. Lynwood Capital Management Inc. purchased a new stake in shares of MAG Silver in the 3rd quarter worth about $517,000. Privium Fund Management B.V. grew its position in MAG Silver by 44.9% during the 3rd quarter. Privium Fund Management B.V. now owns 15,500 shares of the company’s stock valued at $161,000 after purchasing an additional 4,800 shares during the last quarter. Finally, Oppenheimer & Co. Inc. grew its position in MAG Silver by 1.9% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 361,116 shares of the company’s stock valued at $3,745,000 after purchasing an additional 6,895 shares during the last quarter. 52.50% of the stock is currently owned by institutional investors.

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.