MAG Silver Corp. (NYSEAMERICAN:MAG) Expected to Post Q1 2024 Earnings of $0.07 Per Share

MAG Silver Corp. (NYSEAMERICAN:MAG) – Analysts at Cormark issued their Q1 2024 earnings estimates for MAG Silver in a note issued to investors on Monday, April 22nd. Cormark analyst N. Dion expects that the company will post earnings of $0.07 per share for the quarter. The consensus estimate for MAG Silver’s current full-year earnings is $0.47 per share.

Other equities research analysts have also recently issued reports about the stock. StockNews.com raised shares of MAG Silver to a “sell” rating in a research report on Wednesday, March 27th. Stifel Nicolaus decreased their target price 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. HC Wainwright dropped their price target on MAG Silver from $19.50 to $16.00 and set a “buy” rating on the stock in a research note on Thursday, April 4th. Finally, Scotiabank upgraded 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. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $18.00.

MAG Silver Trading Down 0.3 %

MAG opened at $12.10 on Tuesday. MAG Silver has a one year low of $8.19 and a one year high of $13.62. The stock has a market capitalization of $1.25 billion, a PE ratio of 25.73 and a beta of 1.15.

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

Institutional Investors Weigh In On MAG Silver

A number of hedge funds and other institutional investors have recently modified their holdings of MAG. Azarias Capital Management L.P. acquired a new stake in MAG Silver in the 4th quarter worth about $8,420,000. First Eagle Investment Management LLC grew its holdings in MAG Silver by 11.2% in the fourth quarter. First Eagle Investment Management LLC now owns 6,380,120 shares of the company’s stock valued at $66,402,000 after purchasing an additional 642,494 shares during the period. Van ECK Associates Corp increased its position in MAG Silver by 4.4% during the third quarter. Van ECK Associates Corp now owns 9,746,401 shares of the company’s stock worth $101,069,000 after purchasing an additional 406,335 shares during the last quarter. Monaco Asset Management SAM purchased a new position in MAG Silver during the fourth quarter worth approximately $2,615,000. Finally, Invesco Ltd. boosted its holdings in shares of MAG Silver by 8.8% in the 3rd quarter. Invesco Ltd. now owns 1,465,920 shares of the company’s stock valued at $15,202,000 after purchasing an additional 118,211 shares during the last quarter. 52.50% of the stock is currently owned by hedge funds and other 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.