Q1 2024 EPS Estimates for MAG Silver Corp. Cut by Roth Capital (NYSEAMERICAN:MAG)

MAG Silver Corp. (NYSEAMERICAN:MAG) – Equities research analysts at Roth Capital cut their Q1 2024 earnings per share estimates for shares of MAG Silver in a report released on Wednesday, March 27th. Roth Capital analyst J. Reagor now anticipates that the company will earn $0.14 per share for the quarter, down from their prior estimate of $0.18. The consensus estimate for MAG Silver’s current full-year earnings is $0.55 per share. Roth Capital also issued estimates for MAG Silver’s Q2 2024 earnings at $0.17 EPS, Q3 2024 earnings at $0.16 EPS and Q4 2024 earnings at $0.15 EPS.

A number of other research analysts have also recently commented on MAG. Scotiabank upgraded shares of MAG Silver from a “sector perform” rating to a “sector outperform” rating and set a $13.50 price target on the stock in a research report on Thursday. HC Wainwright reissued a “buy” rating and set a $18.50 price objective (down previously from $19.50) on shares of MAG Silver in a research report on Wednesday, March 20th. StockNews.com raised MAG Silver to a “sell” rating in a research report on Wednesday. Finally, Stifel Nicolaus lowered their price objective on MAG Silver from $20.00 to $19.00 and set a “buy” rating for the company in a research report on Wednesday, March 20th. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $18.63.

MAG Silver Price Performance

MAG Silver stock opened at $9.91 on Thursday. MAG Silver has a one year low of $8.19 and a one year high of $14.42. The firm has a market capitalization of $1.02 billion, a PE ratio of 21.09 and a beta of 1.13.

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

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. BlackRock Inc. purchased a new position in MAG Silver in the 2nd quarter worth approximately $11,613,000. Azarias Capital Management L.P. bought a new stake in MAG Silver in the 4th quarter worth approximately $8,420,000. First Eagle Investment Management LLC increased its stake in MAG Silver by 11.2% in the 4th quarter. First Eagle Investment Management LLC now owns 6,380,120 shares of the company’s stock worth $66,402,000 after acquiring an additional 642,494 shares during the last quarter. 1832 Asset Management L.P. increased its stake in MAG Silver by 103.5% in the 4th quarter. 1832 Asset Management L.P. now owns 865,000 shares of the company’s stock worth $13,520,000 after acquiring an additional 440,000 shares during the last quarter. Finally, Invesco Ltd. increased its stake in MAG Silver by 98.1% in the 1st quarter. Invesco Ltd. now owns 849,779 shares of the company’s stock worth $13,741,000 after acquiring an additional 420,757 shares during the last quarter. 52.50% of the stock is owned by hedge funds and other institutional investors.

About MAG Silver

MAG Silver Corp. engages in the exploration and development of precious metal mining properties. The company explores for silver, gold, lead, copper, and zinc deposits. It primarily holds 44% interest in the Juanicipio project located in the Fresnillo District, Zacatecas State, Mexico. MAG Silver Corp.