MAG Silver Corp. (TSE:MAG) Forecasted to Post FY2024 Earnings of $0.81 Per Share

MAG Silver Corp. (TSE:MAG) (NYSEAMERICAN:MAG) – Equities research analysts at HC Wainwright increased their FY2024 earnings per share estimates for shares of MAG Silver in a report issued on Thursday, April 25th. HC Wainwright analyst H. Ihle now expects that the company will earn $0.81 per share for the year, up from their previous estimate of $0.76. The consensus estimate for MAG Silver’s current full-year earnings is $0.55 per share.

MAG Silver (TSE:MAG) (NYSEAMERICAN:MAG) last released its quarterly earnings results on Tuesday, March 19th. The company reported C$0.19 earnings per share for the quarter, beating the consensus estimate of C$0.18 by C$0.01.

Several other equities research analysts have also weighed in on MAG. Stifel Nicolaus dropped their price target on MAG Silver from C$20.50 to C$20.25 in a research report on Thursday. BMO Capital Markets reduced their price target on MAG Silver from C$21.50 to C$21.00 in a research report on Thursday, January 25th. National Bankshares dropped their price target on MAG Silver from C$21.75 to C$21.50 in a research note on Friday, April 19th. TD Securities decreased their price target on MAG Silver from C$20.00 to C$18.00 and set a “buy” rating for the company in a research note on Wednesday, March 20th. Finally, Raymond James raised their price objective on MAG Silver from C$19.50 to C$20.50 in a report on Tuesday, April 23rd. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of C$19.81.

MAG Silver Stock Performance

Shares of TSE MAG opened at C$17.74 on Monday. The stock’s 50-day moving average is C$13.98 and its 200 day moving average is C$13.88. The company has a current ratio of 15.04, a quick ratio of 25.31 and a debt-to-equity ratio of 0.03. MAG Silver has a 1-year low of C$11.15 and a 1-year high of C$18.51. The stock has a market cap of C$1.83 billion, a price-to-earnings ratio of 27.72, a P/E/G ratio of 0.84 and a beta of 1.00.

Insider Activity

In other MAG Silver news, Director George Nickolas Paspalas sold 11,634 shares of the business’s stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of C$15.85, for a total transaction of C$184,398.90. In other news, Senior Officer Michael John Curlook sold 18,779 shares of the stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of C$16.91, for a total value of C$317,552.89. Also, Director George Nickolas Paspalas sold 11,634 shares of the stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of C$15.85, for a total value of C$184,398.90. Insiders sold a total of 106,704 shares of company stock valued at $1,752,125 in the last quarter. 0.47% of the stock is currently owned by company insiders.

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.