Raymond James Analysts Raise Earnings Estimates for MAG Silver Corp. (TSE:MAG)

MAG Silver Corp. (TSE:MAG) (NYSEAMERICAN:MAG) – Investment analysts at Raymond James boosted their Q1 2024 EPS estimates for MAG Silver in a report issued on Wednesday, April 24th. Raymond James analyst B. Macarthur now expects that the company will earn $0.19 per share for the quarter, up from their prior forecast of $0.14. The consensus estimate for MAG Silver’s current full-year earnings is $0.55 per share. Raymond James also issued estimates for MAG Silver’s Q2 2024 earnings at $0.25 EPS, Q3 2024 earnings at $0.25 EPS, Q4 2024 earnings at $0.25 EPS and FY2024 earnings at $0.90 EPS.

MAG has been the subject of several other research reports. National Bankshares lowered their price target on shares of MAG Silver from C$21.75 to C$21.50 in a report on Friday, April 19th. BMO Capital Markets cut their price objective on shares of MAG Silver from C$21.50 to C$21.00 in a report on Thursday, January 25th. TD Securities cut their price objective on shares of MAG Silver from C$20.00 to C$18.00 and set a “buy” rating on the stock in a report on Wednesday, March 20th. Stifel Nicolaus lifted their target price on MAG Silver from C$19.50 to C$20.50 in a research note on Friday, April 19th. Finally, Canaccord Genuity Group lifted their target price on MAG Silver from C$20.00 to C$22.00 in a research note on Tuesday. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, MAG Silver has an average rating of “Moderate Buy” and a consensus target price of C$19.83.

MAG Silver Trading Down 0.4 %

MAG opened at C$16.55 on Thursday. The company’s 50 day moving average is C$13.75 and its 200-day moving average is C$13.84. MAG Silver has a 1-year low of C$11.15 and a 1-year high of C$18.51. The company has a current ratio of 15.04, a quick ratio of 25.31 and a debt-to-equity ratio of 0.03. The company has a market cap of C$1.70 billion, a P/E ratio of 25.86, a PEG ratio of 0.84 and a beta of 1.00.

MAG Silver (TSE:MAG) (NYSEAMERICAN:MAG) last announced its quarterly earnings data on Tuesday, March 19th. The company reported C$0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.18 by C$0.01.

Insider Transactions at MAG Silver

In other news, Director George Nickolas Paspalas sold 11,634 shares of the stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of C$15.85, for a total value of C$184,398.90. In other news, Director George Nickolas Paspalas sold 11,634 shares of the stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of C$15.85, for a total value of C$184,398.90. Also, Senior Officer Peter Megaw sold 76,291 shares of the stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of C$16.39, for a total transaction of C$1,250,172.99. Over the last ninety days, insiders have sold 106,704 shares of company stock valued at $1,752,125. 0.47% of the stock is currently owned by corporate insiders.

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.