Q1 2024 EPS Estimates for MAG Silver Corp. Lifted by Raymond James (NYSEAMERICAN:MAG)

MAG Silver Corp. (NYSEAMERICAN:MAG) – Investment analysts at Raymond James raised their Q1 2024 earnings per share estimates for shares of MAG Silver in a research note issued to investors on Wednesday, April 24th. Raymond James analyst B. Macarthur now anticipates that the company will post earnings of $0.14 per share for the quarter, up from their previous estimate of $0.10. The consensus estimate for MAG Silver’s current full-year earnings is $0.53 per share. Raymond James also issued estimates for MAG Silver’s Q2 2024 earnings at $0.18 EPS, Q3 2024 earnings at $0.18 EPS, Q4 2024 earnings at $0.18 EPS and FY2024 earnings at $0.66 EPS.

Several other brokerages have also weighed in on MAG. Stifel Nicolaus lowered their price objective on MAG Silver from $20.00 to $19.00 and set a “buy” rating for the company in a research report on Wednesday, March 20th. StockNews.com upgraded MAG Silver to a “sell” rating in a research note on Wednesday, March 27th. Scotiabank upgraded MAG Silver from a “sector perform” rating to a “sector outperform” rating and decreased their price target for the stock from $15.00 to $13.50 in a research note on Thursday, March 28th. Finally, HC Wainwright upped their price target on MAG Silver from $16.00 to $17.00 and gave the stock a “buy” rating in a research note on Thursday. One analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $18.25.

MAG Silver Price Performance

Shares of MAG Silver stock opened at $12.97 on Thursday. The company has a market capitalization of $1.34 billion, a P/E ratio of 27.60 and a beta of 1.15. MAG Silver has a fifty-two week low of $8.19 and a fifty-two week high of $13.62.

MAG Silver (NYSEAMERICAN:MAG) last posted its quarterly earnings results on Tuesday, March 19th. The company reported $0.14 earnings per share (EPS) 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 made changes to their positions in the stock. Banque Cantonale Vaudoise lifted its position in MAG Silver by 8.6% in the first 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 stake in MAG Silver in the fourth quarter valued at about $118,000. Quadrature Capital Ltd acquired a new stake in MAG Silver in the third quarter valued at about $127,000. Privium Fund Management B.V. lifted its position in MAG Silver by 44.9% in the third 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 lifted its position in MAG Silver by 50.0% in the fourth 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. Hedge funds and other institutional investors 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.