Cormark Has Optimistic Outlook of MAG Silver FY2025 Earnings

MAG Silver Corporation (NYSEAMERICAN:MAG) – Equities researchers at Cormark boosted their FY2025 EPS estimates for shares of MAG Silver in a report issued on Tuesday, August 12th. Cormark analyst N. Dion now expects that the company will earn $1.02 per share for the year, up from their prior estimate of $0.86. The consensus estimate for MAG Silver’s current full-year earnings is $0.73 per share.

Several other analysts also recently commented on the stock. Roth Capital reaffirmed a “neutral” rating and issued a $23.00 price objective (up from $22.00) on shares of MAG Silver in a report on Tuesday. Canaccord Genuity Group downgraded shares of MAG Silver from a “strong-buy” rating to a “hold” rating in a report on Monday, May 12th. Scotiabank reissued an “outperform” rating on shares of MAG Silver in a report on Tuesday. HC Wainwright reissued a “neutral” rating and set a $22.00 price target on shares of MAG Silver in a report on Thursday, July 24th. Finally, TD Securities downgraded shares of MAG Silver from a “strong-buy” rating to a “strong sell” rating in a report on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $21.00.

MAG Silver Price Performance

MAG stock opened at $22.98 on Wednesday. The firm’s fifty day simple moving average is $21.54 and its 200-day simple moving average is $17.68. The company has a market capitalization of $2.38 billion, a P/E ratio of 23.21 and a beta of 0.69. MAG Silver has a 12 month low of $11.72 and a 12 month high of $23.42.

Institutional Trading of MAG Silver

A number of hedge funds have recently added to or reduced their stakes in MAG. Allspring Global Investments Holdings LLC lifted its holdings in MAG Silver by 18.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 328,000 shares of the company’s stock valued at $4,990,000 after purchasing an additional 50,000 shares in the last quarter. D.A. Davidson & CO. purchased a new position in MAG Silver during the first quarter valued at $167,000. Alps Advisors Inc. lifted its holdings in MAG Silver by 711.6% during the first quarter. Alps Advisors Inc. now owns 392,675 shares of the company’s stock valued at $6,000,000 after purchasing an additional 344,290 shares in the last quarter. Ninepoint Partners LP purchased a new position in MAG Silver during the first quarter valued at $657,000. Finally, Two Sigma Investments LP purchased a new position in MAG Silver during the fourth quarter valued at $401,000. 52.50% of the stock is owned by hedge funds and other institutional investors.

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.