MAG Silver FY2024 EPS Reduced by National Bank Financial

MAG Silver Corp. (NYSEAMERICAN:MAG) – Stock analysts at National Bank Financial dropped their FY2024 earnings estimates for MAG Silver in a research note issued on Monday, February 10th. National Bank Financial analyst D. Demarco now expects that the company will post earnings per share of $0.65 for the year, down from their prior forecast of $0.80. The consensus estimate for MAG Silver’s current full-year earnings is $0.75 per share. National Bank Financial also issued estimates for MAG Silver’s FY2025 earnings at $0.52 EPS.

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

Several other research firms have also recently commented on MAG. HC Wainwright boosted their price objective 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 Mkm cut shares of MAG Silver from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $17.00 to $17.50 in a research report on Thursday, October 24th. StockNews.com raised shares of MAG Silver from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Finally, Roth Capital cut shares of MAG Silver from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 24th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $18.63.

MAG Silver Trading Down 4.1 %

MAG opened at $16.40 on Thursday. The firm has a market capitalization of $1.70 billion, a P/E ratio of 23.10 and a beta of 1.09. MAG Silver has a 12 month low of $8.19 and a 12 month high of $18.27.

Institutional Investors Weigh In On MAG Silver

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Barclays PLC increased its stake in shares of MAG Silver by 211.5% during the 3rd quarter. Barclays PLC now owns 30,780 shares of the company’s stock worth $432,000 after purchasing an additional 20,899 shares during the last quarter. Van ECK Associates Corp increased its stake in shares of MAG Silver by 4.8% during the 3rd quarter. Van ECK Associates Corp now owns 10,231,410 shares of the company’s stock worth $143,649,000 after purchasing an additional 467,817 shares during the last quarter. JPMorgan Chase & Co. increased 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 worth $6,407,000 after purchasing an additional 186,445 shares during the last quarter. PCJ Investment Counsel Ltd. increased its stake in shares of MAG Silver by 38.1% during the 3rd quarter. PCJ Investment Counsel Ltd. now owns 369,290 shares of the company’s stock worth $5,196,000 after purchasing an additional 101,870 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in shares of MAG Silver by 199.7% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 382,027 shares of the company’s stock worth $5,374,000 after purchasing an additional 254,553 shares during the last quarter. 52.50% of the stock is currently owned by institutional investors and hedge funds.

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.