Research Analysts Set Expectations for MAG Silver Corp.’s Q1 2024 Earnings (NYSEAMERICAN:MAG)

MAG Silver Corp. (NYSEAMERICAN:MAG) – Research analysts at Cormark issued their Q1 2024 earnings estimates for MAG Silver in a research report issued on Monday, April 22nd. Cormark analyst N. Dion forecasts 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.

MAG has been the topic of several other reports. HC Wainwright lowered their price target on shares of MAG Silver from $19.50 to $16.00 and set a “buy” rating on the stock in a report on Thursday, April 4th. Stifel Nicolaus lowered their price target on shares of MAG Silver from $20.00 to $19.00 and set a “buy” rating on the stock in a report on Wednesday, March 20th. StockNews.com raised shares of MAG Silver to a “sell” rating in a report on Wednesday, March 27th. Finally, Scotiabank raised shares of MAG Silver from a “sector perform” rating to a “sector outperform” rating and lowered their price target for the company from $15.00 to $13.50 in a report on Thursday, March 28th. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, MAG Silver currently has an average rating of “Moderate Buy” and a consensus price target of $18.00.

MAG Silver Stock Performance

NYSEAMERICAN:MAG opened at $12.16 on Tuesday. MAG Silver has a one year low of $8.19 and a one year high of $13.62. The firm has a market capitalization of $1.25 billion, a price-to-earnings ratio of 25.86 and a beta of 1.15.

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Van ECK Associates Corp raised its position in shares of MAG Silver by 4.4% during the 3rd 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. Raymond James Financial Services Advisors Inc. raised its position in shares of MAG Silver by 6.6% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 63,884 shares of the company’s stock worth $665,000 after purchasing an additional 3,950 shares during the last quarter. Quadrature Capital Ltd acquired a new position in shares of MAG Silver during the 3rd quarter worth about $127,000. Oppenheimer & Co. Inc. raised its position in shares of MAG Silver by 1.9% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 361,116 shares of the company’s stock worth $3,745,000 after purchasing an additional 6,895 shares during the last quarter. Finally, Invesco Ltd. raised its position in shares of MAG Silver by 8.8% during the 3rd quarter. Invesco Ltd. now owns 1,465,920 shares of the company’s stock worth $15,202,000 after purchasing an additional 118,211 shares during the last quarter. Institutional investors and hedge funds own 52.50% of the company’s stock.

About MAG Silver

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.