Q3 2024 Earnings Estimate for MAG Silver Corp. (NYSEAMERICAN:MAG) Issued By Raymond James

MAG Silver Corp. (NYSEAMERICAN:MAG) – Analysts at Raymond James decreased their Q3 2024 earnings per share estimates for shares of MAG Silver in a research report issued on Wednesday, April 24th. Raymond James analyst B. Macarthur now expects that the company will earn $0.17 per share for the quarter, down from their previous forecast of $0.18. 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 Q4 2024 earnings at $0.17 EPS.

MAG has been the subject of a number of other reports. Scotiabank raised MAG Silver from a “sector perform” rating to a “sector outperform” rating and decreased their price objective for the stock from $15.00 to $13.50 in a research report on Thursday, March 28th. Stifel Nicolaus dropped their price objective on MAG Silver from $20.00 to $19.00 and set a “buy” rating for the company in a research note on Wednesday, March 20th. StockNews.com upgraded MAG Silver to a “sell” rating in a report on Wednesday, March 27th. Finally, HC Wainwright raised their price objective on MAG Silver from $16.00 to $17.00 and gave the stock a “buy” rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $18.25.

MAG Silver Stock Up 7.5 %

Shares of NYSEAMERICAN MAG opened at $12.97 on Friday. The stock 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 52-week low of $8.19 and a 52-week high of $13.62.

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

Hedge Funds Weigh In On MAG Silver

Hedge funds and other institutional investors have recently made changes to their positions in the business. Van ECK Associates Corp increased its holdings in shares of MAG Silver by 4.4% in the third quarter. Van ECK Associates Corp now owns 9,746,401 shares of the company’s stock valued at $101,069,000 after buying an additional 406,335 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its holdings in shares of MAG Silver by 6.6% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 63,884 shares of the company’s stock valued at $665,000 after buying an additional 3,950 shares in the last quarter. Quadrature Capital Ltd bought a new position in shares of MAG Silver in the third quarter valued at $127,000. Oppenheimer & Co. Inc. increased its holdings in shares of MAG Silver by 1.9% in the third quarter. Oppenheimer & Co. Inc. now owns 361,116 shares of the company’s stock valued at $3,745,000 after buying an additional 6,895 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in shares of MAG Silver by 8.8% in the third quarter. Invesco Ltd. now owns 1,465,920 shares of the company’s stock valued at $15,202,000 after buying an additional 118,211 shares in the last quarter. 52.50% of the stock is currently owned by institutional investors and hedge funds.

MAG Silver Company Profile

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.