MAG Silver Corp. (NYSEAMERICAN:MAG) Forecasted to Earn Q1 2024 Earnings of $0.14 Per Share

MAG Silver Corp. (NYSEAMERICAN:MAG) – Equities research analysts at Roth Capital reduced their Q1 2024 earnings per share (EPS) estimates for shares of MAG Silver in a report issued on Wednesday, March 27th. Roth Capital analyst J. Reagor now forecasts that the company will earn $0.14 per share for the quarter, down from their prior forecast of $0.18. The consensus estimate for MAG Silver’s current full-year earnings is $0.55 per share. Roth Capital also issued estimates for MAG Silver’s Q2 2024 earnings at $0.17 EPS, Q3 2024 earnings at $0.16 EPS and Q4 2024 earnings at $0.15 EPS.

MAG Silver (NYSEAMERICAN:MAG) last released its earnings results on Tuesday, March 19th. The company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.13 by $0.01.

Several other brokerages have also recently issued reports on MAG. HC Wainwright restated a “buy” rating and set a $18.50 price objective (down from $19.50) on shares of MAG Silver in a research note on Wednesday, March 20th. Scotiabank upgraded MAG Silver from a “sector perform” rating to a “sector outperform” rating and set a $13.50 price objective on the stock in a research note on Thursday. Stifel Nicolaus dropped their target price on MAG Silver from $20.00 to $19.00 and set a “buy” rating on the stock in a research report on Wednesday, March 20th. Finally, StockNews.com raised MAG Silver to a “sell” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.63.

MAG Silver Price Performance

MAG Silver stock opened at $9.91 on Thursday. MAG Silver has a 52 week low of $8.19 and a 52 week high of $14.42. The company has a market cap of $1.02 billion, a PE ratio of 21.09 and a beta of 1.13.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of MAG. Natixis acquired a new position in MAG Silver during the fourth quarter worth about $34,000. Geneos Wealth Management Inc. grew its holdings in MAG Silver by 89.6% during the first quarter. Geneos Wealth Management Inc. now owns 3,385 shares of the company’s stock worth $54,000 after acquiring an additional 1,600 shares during the period. Deutsche Bank AG acquired a new position in MAG Silver during the fourth quarter worth about $55,000. BNP Paribas Financial Markets acquired a new position in MAG Silver during the fourth quarter worth about $61,000. Finally, Chilton Capital Management LLC acquired a new position in MAG Silver during the first quarter worth about $78,000. 52.50% of the stock is owned by institutional investors and hedge funds.

About MAG Silver

MAG Silver Corp. engages in the exploration and development of precious metal mining properties. The company explores for silver, gold, lead, copper, and zinc deposits. It primarily holds 44% interest in the Juanicipio project located in the Fresnillo District, Zacatecas State, Mexico. MAG Silver Corp.