FY2024 EPS Estimates for MAG Silver Corp. (NYSEAMERICAN:MAG) Increased by Analyst

MAG Silver Corp. (NYSEAMERICAN:MAG) – Investment analysts at HC Wainwright upped their FY2024 EPS estimates for MAG Silver in a research report issued to clients and investors on Thursday, April 25th. HC Wainwright analyst H. Ihle now forecasts that the company will earn $0.59 per share for the year, up from their previous forecast of $0.56. HC Wainwright currently has a “Buy” rating and a $17.00 price objective on the stock. The consensus estimate for MAG Silver’s current full-year earnings is $0.55 per share.

MAG has been the subject of several other research reports. StockNews.com raised shares of MAG Silver to a “sell” rating in a research report on Wednesday, March 27th. Scotiabank upgraded shares of MAG Silver from a “sector perform” rating to a “sector outperform” rating and decreased their target price for the company from $15.00 to $13.50 in a research note on Thursday, March 28th. Finally, Stifel Nicolaus dropped their target price 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. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $18.25.

MAG Silver Stock Down 0.1 %

NYSEAMERICAN:MAG opened at $12.96 on Monday. MAG Silver has a 1-year low of $8.19 and a 1-year high of $13.62. The company has a market capitalization of $1.33 billion, a PE ratio of 27.57 and a beta of 1.15.

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

Hedge Funds Weigh In On MAG Silver

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Banque Cantonale Vaudoise increased its holdings in shares of MAG Silver by 8.6% in the 1st quarter. Banque Cantonale Vaudoise now owns 11,012 shares of the company’s stock valued at $116,000 after purchasing an additional 876 shares during the period. Crown Wealth Group LLC acquired a new position in shares of MAG Silver in the 4th quarter valued at about $118,000. Quadrature Capital Ltd acquired a new position in shares of MAG Silver in the 3rd quarter valued at about $127,000. Privium Fund Management B.V. increased its holdings in shares of MAG Silver by 44.9% in the 3rd quarter. Privium Fund Management B.V. now owns 15,500 shares of the company’s stock valued at $161,000 after purchasing an additional 4,800 shares during the period. Finally, Veracity Capital LLC increased its holdings in shares of MAG Silver by 50.0% in the 4th quarter. Veracity Capital LLC now owns 16,654 shares of the company’s stock valued at $173,000 after purchasing an additional 5,551 shares during the period. Institutional investors and hedge funds own 52.50% of the company’s stock.

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.