Raymond James Increases Earnings Estimates for MAG Silver

MAG Silver Corp. (NYSEAMERICAN:MAG) – Raymond James raised their FY2024 EPS estimates for shares of MAG Silver in a note issued to investors on Thursday, January 30th. Raymond James analyst B. Macarthur now forecasts that the company will post earnings per share of $0.84 for the year, up from their previous forecast of $0.75. The consensus estimate for MAG Silver’s current full-year earnings is $0.75 per share. Raymond James also issued estimates for MAG Silver’s FY2025 earnings at $0.94 EPS.

MAG Silver (NYSEAMERICAN:MAG) last released its earnings results on Tuesday, November 12th. The company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.02.

A number of other research analysts have also weighed in on MAG. HC Wainwright raised their price target on shares of MAG Silver from $20.00 to $21.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Roth Capital downgraded MAG Silver from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 24th. Roth Mkm downgraded MAG Silver from a “buy” rating to a “neutral” rating and increased their price target for the company from $17.00 to $17.50 in a research report on Thursday, October 24th. Finally, StockNews.com raised MAG Silver from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $18.63.

MAG Silver Stock Performance

Shares of NYSEAMERICAN:MAG opened at $16.10 on Monday. MAG Silver has a 52-week low of $8.19 and a 52-week high of $18.27. The company has a market capitalization of $1.66 billion, a price-to-earnings ratio of 22.68 and a beta of 1.09.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Van ECK Associates Corp lifted its stake in MAG Silver by 4.8% in the third quarter. Van ECK Associates Corp now owns 10,231,410 shares of the company’s stock worth $143,649,000 after acquiring an additional 467,817 shares during the period. Tidal Investments LLC raised its holdings in MAG Silver by 3.6% in the 3rd quarter. Tidal Investments LLC now owns 2,810,051 shares of the company’s stock worth $39,453,000 after purchasing an additional 98,312 shares in the last quarter. Sprott Inc. lifted its position in shares of MAG Silver by 8.5% in the 4th quarter. Sprott Inc. now owns 2,649,507 shares of the company’s stock worth $36,004,000 after purchasing an additional 208,252 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of MAG Silver by 69.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 456,335 shares of the company’s stock valued at $6,407,000 after purchasing an additional 186,445 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in MAG Silver by 199.7% in the third quarter. The Manufacturers Life Insurance Company now owns 382,027 shares of the company’s stock worth $5,374,000 after buying an additional 254,553 shares in the last quarter. 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.