MAG Silver Corp. (TSE:MAG) Forecasted to Earn Q1 2024 Earnings of $0.19 Per Share

MAG Silver Corp. (TSE:MAG) (NYSEAMERICAN:MAG) – Stock analysts at Raymond James raised their Q1 2024 EPS estimates for MAG Silver in a research report issued to clients and investors on Wednesday, April 24th. Raymond James analyst B. Macarthur now expects that the company will post earnings of $0.19 per share for the quarter, up from their prior forecast of $0.14. The consensus estimate for MAG Silver’s current full-year earnings is $0.55 per share. Raymond James also issued estimates for MAG Silver’s Q2 2024 earnings at $0.25 EPS, Q3 2024 earnings at $0.25 EPS, Q4 2024 earnings at $0.25 EPS and FY2024 earnings at $0.90 EPS.

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

MAG has been the topic of a number of other research reports. Stifel Nicolaus cut their price objective on shares of MAG Silver from C$20.50 to C$20.25 in a research report on Thursday. TD Securities reduced their price target on MAG Silver from C$20.00 to C$18.00 and set a “buy” rating on the stock in a research report on Wednesday, March 20th. BMO Capital Markets decreased their price objective on MAG Silver from C$21.50 to C$21.00 in a report on Thursday, January 25th. National Bankshares reduced their target price on MAG Silver from C$21.75 to C$21.50 in a research report on Friday, April 19th. Finally, Canaccord Genuity Group raised their price target on MAG Silver from C$20.00 to C$22.00 and gave the stock a “buy” rating in a report on Tuesday. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of C$19.81.

MAG Silver Stock Performance

Shares of MAG Silver stock opened at C$17.70 on Thursday. The company has a market capitalization of C$1.82 billion, a PE ratio of 27.66, a P/E/G ratio of 0.84 and a beta of 1.00. The company has a 50-day simple moving average of C$13.87 and a two-hundred day simple moving average of C$13.87. MAG Silver has a one year low of C$11.15 and a one year high of C$18.51. The company has a debt-to-equity ratio of 0.03, a quick ratio of 25.31 and a current ratio of 15.04.

Insider Buying and Selling at MAG Silver

In other MAG Silver news, Senior Officer Peter Megaw sold 76,291 shares of the company’s stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of C$16.39, for a total transaction of C$1,250,172.99. In other MAG Silver news, Senior Officer Peter Megaw sold 76,291 shares of the company’s stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of C$16.39, for a total transaction of C$1,250,172.99. Also, Senior Officer Michael John Curlook sold 18,779 shares of the company’s stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of C$16.91, for a total transaction of C$317,552.89. In the last quarter, insiders have sold 106,704 shares of company stock worth $1,752,125. 0.47% of the stock is owned by corporate insiders.

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.