MAG Silver Corp. (NYSEAMERICAN:MAG – Get Rating) – Raymond James increased their Q3 2022 EPS estimates for shares of MAG Silver in a research note issued on Tuesday, April 19th. Raymond James analyst B. Macarthur now expects that the company will earn $0.31 per share for the quarter, up from their prior estimate of $0.29. Raymond James also issued estimates for MAG Silver’s Q4 2022 earnings at $0.31 EPS, FY2022 earnings at $0.71 EPS, Q4 2023 earnings at $0.32 EPS and FY2023 earnings at $1.18 EPS.
MAG has been the topic of a number of other reports. HC Wainwright reduced their price target on shares of MAG Silver from $22.00 to $21.50 and set a “buy” rating on the stock in a research report on Monday, April 4th. Stifel Nicolaus boosted their target price on shares of MAG Silver from C$29.75 to C$30.50 in a research note on Monday, March 14th. Zacks Investment Research raised shares of MAG Silver from a “strong sell” rating to a “hold” rating in a research note on Wednesday, April 6th. BMO Capital Markets dropped their target price on shares of MAG Silver from C$23.50 to C$20.50 in a research note on Friday, January 28th. Finally, National Bank Financial dropped their target price on shares of MAG Silver from C$30.00 to C$28.25 in a research note on Wednesday. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, MAG Silver currently has a consensus rating of “Hold” and a consensus target price of $25.96.
MAG Silver (NYSEAMERICAN:MAG – Get Rating) last released its quarterly earnings results on Thursday, March 31st. The company reported $0.09 EPS for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.05.
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Banque Cantonale Vaudoise raised its stake in shares of MAG Silver by 1.7% during the third quarter. Banque Cantonale Vaudoise now owns 36,930 shares of the company’s stock worth $598,000 after buying an additional 625 shares during the last quarter. Raymond James & Associates increased its stake in MAG Silver by 0.6% in the third quarter. Raymond James & Associates now owns 126,548 shares of the company’s stock valued at $2,046,000 after purchasing an additional 726 shares in the last quarter. Bank of America Corp DE increased its stake in MAG Silver by 8.9% in the fourth quarter. Bank of America Corp DE now owns 16,510 shares of the company’s stock valued at $259,000 after purchasing an additional 1,344 shares in the last quarter. Shell Asset Management Co. increased its stake in MAG Silver by 22.0% in the fourth quarter. Shell Asset Management Co. now owns 9,971 shares of the company’s stock valued at $157,000 after purchasing an additional 1,800 shares in the last quarter. Finally, Beirne Wealth Consulting Services LLC increased its stake in MAG Silver by 3.5% in the third quarter. Beirne Wealth Consulting Services LLC now owns 59,750 shares of the company’s stock valued at $967,000 after purchasing an additional 2,000 shares in the last quarter. 48.55% of the stock is owned by institutional investors and hedge funds.
About MAG Silver (Get Rating)
MAG Silver Corp. engages in the exploration and development of silver mining properties. It also explores for gold, lead, and zinc deposits. It primarily holds 44% interest in the Juanicipio project located in the Fresnillo District, Zacatecas State, Mexico. The company was incorporated in 2003 and is headquartered in Vancouver, Canada.
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