Equities Analysts Set Expectations for MAG Silver Corp.’s Q1 2024 Earnings (NYSEAMERICAN:MAG)

MAG Silver Corp. (NYSEAMERICAN:MAG) – Equities research analysts at Raymond James raised their Q1 2024 earnings estimates for shares of MAG Silver in a report issued on Wednesday, April 24th. Raymond James analyst B. Macarthur now expects that the company will post earnings per share of $0.14 for the quarter, up from their prior estimate of $0.10. The consensus estimate for MAG Silver’s current full-year earnings is $0.50 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.

MAG Silver (NYSEAMERICAN:MAG) last announced its earnings results on Tuesday, March 19th. The company reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.01.

Other equities research analysts have also recently issued research reports about the stock. Stifel Nicolaus lowered their price objective on shares of 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 raised shares of MAG Silver to a “sell” rating in a research note on Wednesday, March 27th. Scotiabank raised shares of MAG Silver from a “sector perform” rating to a “sector outperform” rating and cut their price target for the company from $15.00 to $13.50 in a research note on Thursday, March 28th. Finally, HC Wainwright cut their price target on shares of MAG Silver from $19.50 to $16.00 and set a “buy” rating on the stock in a research note on Thursday, April 4th. One analyst has rated the stock with a sell rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.00.

MAG Silver Stock Down 0.3 %

Shares of MAG Silver stock opened at $12.10 on Thursday. The stock has a market cap of $1.25 billion, a P/E ratio of 25.73 and a beta of 1.15. MAG Silver has a 12-month low of $8.19 and a 12-month high of $13.62.

Hedge Funds Weigh In On MAG Silver

A number of institutional investors have recently added to or reduced their stakes in the company. Hedges Asset Management LLC increased its holdings in shares of MAG Silver by 64.9% in the first quarter. Hedges Asset Management LLC now owns 103,900 shares of the company’s stock valued at $1,099,000 after purchasing an additional 40,900 shares during the last quarter. Azarias Capital Management L.P. increased its holdings in shares of MAG Silver by 73.7% in the first quarter. Azarias Capital Management L.P. now owns 1,405,136 shares of the company’s stock valued at $14,866,000 after purchasing an additional 596,283 shares during the last quarter. Banque Cantonale Vaudoise increased its holdings in shares of 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 last quarter. Oppenheimer & Co. Inc. increased its holdings in shares of MAG Silver by 2.1% in the fourth quarter. Oppenheimer & Co. Inc. now owns 368,710 shares of the company’s stock valued at $3,838,000 after purchasing an additional 7,594 shares during the last quarter. Finally, CIBC Asset Management Inc increased its holdings in shares of MAG Silver by 3.0% in the fourth quarter. CIBC Asset Management Inc now owns 90,881 shares of the company’s stock valued at $949,000 after purchasing an additional 2,652 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.