MAG Silver FY2024 EPS Increased by National Bank Financial

MAG Silver Corp. (NYSEAMERICAN:MAG) – Equities researchers at National Bank Financial boosted their FY2024 EPS estimates for shares of MAG Silver in a note issued to investors on Thursday, November 28th. National Bank Financial analyst D. Demarco now expects that the company will post earnings of $0.80 per share for the year, up from their previous forecast of $0.65. The consensus estimate for MAG Silver’s current full-year earnings is $0.75 per share. National Bank Financial also issued estimates for MAG Silver’s Q4 2024 earnings at $0.20 EPS.

MAG Silver (NYSEAMERICAN:MAG) last issued its quarterly earnings data on Tuesday, November 12th. The company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.02.

Other equities analysts have also recently issued research reports about the stock. StockNews.com raised shares of MAG Silver from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Roth Mkm downgraded MAG Silver from a “buy” rating to a “neutral” rating and increased their target price for the stock from $17.00 to $17.50 in a report on Thursday, October 24th. HC Wainwright boosted their price target on MAG Silver from $18.00 to $20.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Scotiabank raised their price objective on MAG Silver from $14.50 to $15.50 and gave the stock a “sector outperform” rating in a research note on Monday, August 19th. Finally, Roth Capital cut shares of MAG Silver from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 24th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $18.38.

MAG Silver Stock Performance

MAG opened at $15.90 on Monday. MAG Silver has a 12-month low of $8.19 and a 12-month high of $18.27. The firm has a market capitalization of $1.64 billion, a P/E ratio of 22.39 and a beta of 1.07.

Institutional Trading of MAG Silver

Hedge funds have recently bought and sold shares of the company. CANADA LIFE ASSURANCE Co increased its stake in shares of MAG Silver by 377.0% during the first quarter. CANADA LIFE ASSURANCE Co now owns 47,459 shares of the company’s stock valued at $499,000 after acquiring an additional 37,509 shares during the period. Janus Henderson Group PLC acquired a new position in shares of MAG Silver during the 1st quarter valued at $3,925,000. Addenda Capital Inc. bought a new stake in shares of MAG Silver in the 2nd quarter worth $123,000. Corundum Trust Company INC acquired a new stake in shares of MAG Silver in the second quarter valued at $329,000. Finally, Allspring Global Investments Holdings LLC bought a new position in MAG Silver during the second quarter valued at about $9,932,000. 52.50% of the stock is currently owned by institutional investors.

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.