National Bank Financial Estimates MAG Silver FY2024 Earnings

MAG Silver Corp. (NYSEAMERICAN:MAG) – National Bank Financial increased their FY2024 EPS estimates for MAG Silver in a research note issued to investors on Tuesday, October 22nd. National Bank Financial analyst D. Demarco now expects that the company will post earnings of $0.65 per share for the year, up from their previous forecast of $0.64. The consensus estimate for MAG Silver’s current full-year earnings is $0.69 per share. National Bank Financial also issued estimates for MAG Silver’s FY2025 earnings at $0.52 EPS.

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

Other equities research analysts also recently issued research reports about the stock. Scotiabank upped their price objective on shares of MAG Silver from $14.50 to $15.50 and gave the stock a “sector outperform” rating in a report on Monday, August 19th. HC Wainwright upped their price target on shares of MAG Silver from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Roth Mkm cut shares of MAG Silver from a “buy” rating to a “neutral” rating and increased their price objective for the company from $17.00 to $17.50 in a report on Thursday. StockNews.com raised MAG Silver from a “sell” rating to a “hold” rating in a report on Thursday. Finally, Roth Capital lowered MAG Silver from a “strong-buy” rating to a “hold” rating in a research note on Thursday. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, MAG Silver currently has a consensus rating of “Hold” and a consensus price target of $17.88.

MAG Silver Trading Up 0.3 %

Shares of NYSEAMERICAN:MAG opened at $17.85 on Friday. The company has a market capitalization of $1.84 billion, a price-to-earnings ratio of 30.78 and a beta of 1.15. MAG Silver has a 52 week low of $8.19 and a 52 week high of $18.01.

Hedge Funds Weigh In On MAG Silver

A number of large investors have recently made changes to their positions in MAG. Van ECK Associates Corp boosted its position in MAG Silver by 7.5% during the first quarter. Van ECK Associates Corp now owns 9,981,600 shares of the company’s stock valued at $105,603,000 after purchasing an additional 696,140 shares during the last quarter. Jupiter Asset Management Ltd. grew its stake in shares of MAG Silver by 6.5% in the 1st quarter. Jupiter Asset Management Ltd. now owns 2,517,445 shares of the company’s stock valued at $26,584,000 after buying an additional 153,274 shares in the last quarter. Tidal Investments LLC acquired a new position in MAG Silver in the first quarter worth approximately $22,518,000. Azarias Capital Management L.P. raised 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 acquiring an additional 596,283 shares in the last quarter. Finally, TD Asset Management Inc lifted its stake in MAG Silver by 118.3% in the second quarter. TD Asset Management Inc now owns 1,063,055 shares of the company’s stock valued at $12,415,000 after acquiring an additional 576,156 shares during the last quarter. Institutional investors and hedge funds 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.