MAG Silver Corp. (NYSEAMERICAN:MAG) to Post Q1 2024 Earnings of $0.10 Per Share, Raymond James Forecasts

MAG Silver Corp. (NYSEAMERICAN:MAGFree Report) – Research analysts at Raymond James decreased their Q1 2024 EPS estimates for shares of MAG Silver in a research note issued on Tuesday, March 19th. Raymond James analyst B. Macarthur now anticipates that the company will earn $0.10 per share for the quarter, down from their previous estimate of $0.13. The consensus estimate for MAG Silver’s current full-year earnings is $0.66 per share. Raymond James also issued estimates for MAG Silver’s Q2 2024 earnings at $0.10 EPS, Q3 2024 earnings at $0.10 EPS and Q4 2024 earnings at $0.10 EPS.

MAG has been the topic of several other reports. Stifel Nicolaus decreased their price objective on shares of MAG Silver from $20.00 to $19.00 and set a “buy” rating on the stock in a report on Wednesday. HC Wainwright reiterated a “buy” rating and set a $18.50 target price (down from $19.50) on shares of MAG Silver in a report on Wednesday. Finally, StockNews.com upgraded shares of MAG Silver to a “sell” rating in a report on Monday, March 11th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, MAG Silver currently has an average rating of “Hold” and a consensus target price of $19.13.

View Our Latest Stock Analysis on MAG Silver

MAG Silver Trading Down 0.9 %

Shares of MAG stock opened at $9.18 on Thursday. MAG Silver has a one year low of $8.19 and a one year high of $14.42. The company has a market capitalization of $945.36 million, a PE ratio of 19.68 and a beta of 1.13.

Institutional Investors Weigh In On MAG Silver

A number of large investors have recently modified their holdings of the company. Goldman Sachs Group Inc. increased its position in shares of MAG Silver by 82.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 343,188 shares of the company’s stock valued at $3,573,000 after purchasing an additional 155,096 shares during the last quarter. Virtu Financial LLC purchased a new stake in shares of MAG Silver in the 4th quarter valued at approximately $156,000. Legal & General Group Plc increased its position in shares of MAG Silver by 5.7% in the 4th quarter. Legal & General Group Plc now owns 75,590 shares of the company’s stock valued at $790,000 after purchasing an additional 4,100 shares during the last quarter. Nuveen Asset Management LLC purchased a new stake in shares of MAG Silver in the 4th quarter valued at approximately $885,000. Finally, Point72 Asset Management L.P. purchased a new stake in shares of MAG Silver in the 4th quarter valued at approximately $141,000. 42.80% of the stock is owned by hedge funds and other institutional investors.

About MAG Silver

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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.

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