MAG Silver Corp. (NYSEAMERICAN:MAG) Forecasted to Post Q1 2024 Earnings of $0.14 Per Share

MAG Silver Corp. (NYSEAMERICAN:MAG - Free Report) - Equities researchers at Roth Capital reduced their Q1 2024 earnings estimates for MAG Silver in a research report issued on Wednesday, March 27th. Roth Capital analyst J. Reagor now expects that the company will post earnings of $0.14 per share for the quarter, down from their prior estimate of $0.18. The consensus estimate for MAG Silver's current full-year earnings is $0.55 per share. Roth Capital also issued estimates for MAG Silver's Q2 2024 earnings at $0.17 EPS, Q3 2024 earnings at $0.16 EPS and Q4 2024 earnings at $0.15 EPS.

MAG Silver (NYSEAMERICAN:MAG - Get Free Report) last released its earnings results on Tuesday, March 19th. The company reported $0.14 EPS for the quarter, topping analysts' consensus estimates of $0.13 by $0.01.

Several other equities analysts have also weighed in on the stock. HC Wainwright reiterated a "buy" rating and issued a $18.50 target price (down from $19.50) on shares of MAG Silver in a report on Wednesday, March 20th. Scotiabank upgraded shares of MAG Silver from a "sector perform" rating to a "sector outperform" rating and set a $13.50 target price on the stock in a report on Thursday. Stifel Nicolaus decreased their price objective on shares of MAG Silver from $20.00 to $19.00 and set a "buy" rating on the stock in a report on Wednesday, March 20th. Finally, StockNews.com upgraded shares of MAG Silver to a "sell" rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $18.63.

MAG Silver Trading Up 7.3 %

MAG traded up $0.72 on Thursday, reaching $10.60. 1,815,745 shares of the company's stock were exchanged, compared to its average volume of 705,797. The firm has a market capitalization of $1.09 billion, a PE ratio of 21.09 and a beta of 1.13. MAG Silver has a twelve month low of $8.19 and a twelve month high of $14.42.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Natixis acquired a new stake in MAG Silver during the 4th quarter worth $34,000. Geneos Wealth Management Inc. boosted its stake in MAG Silver by 89.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 3,385 shares of the company's stock worth $54,000 after purchasing an additional 1,600 shares during the period. Deutsche Bank AG acquired a new stake in MAG Silver during the 4th quarter worth $55,000. BNP Paribas Financial Markets acquired a new stake in MAG Silver during the 4th quarter worth $61,000. Finally, Chilton Capital Management LLC acquired a new stake in MAG Silver during the 1st quarter worth $78,000. Institutional investors and hedge funds own 52.50% of the company's stock.

MAG Silver Company Profile

MAG Silver Corp. engages in the exploration and development of precious metal mining properties. The company explores for silver, gold, lead, copper, and zinc deposits. It primarily holds 44% interest in the Juanicipio project located in the Fresnillo District, Zacatecas State, Mexico. MAG Silver Corp.