What is Roth Capital’s Forecast for MAG Silver Q3 Earnings?

MAG Silver Corp. (NYSEAMERICAN:MAG) – Stock analysts at Roth Capital increased their Q3 2024 earnings per share (EPS) estimates for shares of MAG Silver in a research note issued to investors on Thursday, October 24th. Roth Capital analyst J. Reagor now forecasts that the company will post earnings per share of $0.27 for the quarter, up from their previous estimate of $0.22. Roth Capital currently has a “Hold” rating on the stock. The consensus estimate for MAG Silver’s current full-year earnings is $0.69 per share. Roth Capital also issued estimates for MAG Silver’s FY2024 earnings at $0.86 EPS.

MAG Silver (NYSEAMERICAN:MAG) last issued its earnings results on Friday, August 2nd. The company reported $0.21 EPS for the quarter, topping the consensus estimate of $0.19 by $0.02.

Other equities analysts have also issued reports about the company. Scotiabank raised their target price on MAG Silver from $14.50 to $15.50 and gave the company a “sector outperform” rating in a report on Monday, August 19th. Roth Mkm lowered MAG Silver from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $17.00 to $17.50 in a research note on Thursday. HC Wainwright lifted their price objective on MAG Silver from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Finally, StockNews.com upgraded MAG Silver from a “sell” rating to a “hold” rating in a research note on Thursday. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, MAG Silver has a consensus rating of “Hold” and a consensus price target of $17.88.

MAG Silver Stock Performance

NYSEAMERICAN MAG opened at $17.85 on Friday. MAG Silver has a fifty-two week low of $8.19 and a fifty-two week high of $18.01. The stock has a market cap of $1.84 billion, a price-to-earnings ratio of 30.78 and a beta of 1.15.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Tidal Investments LLC bought a new position in MAG Silver in the 1st quarter worth approximately $22,518,000. Allspring Global Investments Holdings LLC bought a new position in MAG Silver in the 2nd quarter worth approximately $9,932,000. Van ECK Associates Corp raised its position in MAG Silver by 7.5% in the 1st quarter. Van ECK Associates Corp now owns 9,981,600 shares of the company’s stock worth $105,603,000 after purchasing an additional 696,140 shares during the last quarter. Azarias Capital Management L.P. raised its position in MAG Silver by 73.7% in the 1st quarter. Azarias Capital Management L.P. now owns 1,405,136 shares of the company’s stock worth $14,866,000 after purchasing an additional 596,283 shares during the last quarter. Finally, TD Asset Management Inc raised its position in MAG Silver by 118.3% in the 2nd quarter. TD Asset Management Inc now owns 1,063,055 shares of the company’s stock worth $12,415,000 after purchasing an additional 576,156 shares during the last quarter. 52.50% of the stock is 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.