Roth Capital Research Analysts Cut Earnings Estimates for MAG Silver Corp. (NYSEAMERICAN:MAG)

MAG Silver Corp. (NYSEAMERICAN:MAG - Free Report) - Stock analysts at Roth Capital decreased their FY2024 earnings per share (EPS) estimates for shares of MAG Silver in a report released on Wednesday, March 27th. Roth Capital analyst J. Reagor now anticipates that the company will post earnings of $0.62 per share for the year, down from their previous estimate of $0.81. The consensus estimate for MAG Silver's current full-year earnings is $0.55 per share.

MAG Silver (NYSEAMERICAN:MAG - Get Free Report) last announced its quarterly earnings data on Tuesday, March 19th. The company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.13 by $0.01.

MAG has been the topic of several other reports. Scotiabank raised MAG Silver from a "sector perform" rating to a "sector outperform" rating and set a $13.50 target price on the stock in a research report on Thursday. Stifel Nicolaus cut their price objective on MAG Silver from $20.00 to $19.00 and set a "buy" rating on the stock in a report on Wednesday, March 20th. HC Wainwright reaffirmed a "buy" rating and set a $18.50 target price (down from $19.50) on shares of MAG Silver in a report on Wednesday, March 20th. Finally, StockNews.com raised 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 assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $18.63.

MAG Silver Trading Up 7.1 %

Shares of MAG stock traded up $0.70 during mid-day trading on Friday, hitting $10.58. The stock had a trading volume of 1,816,630 shares, compared to its average volume of 887,966. The stock has a market capitalization of $1.09 billion, a price-to-earnings ratio of 22.51 and a beta of 1.13. MAG Silver has a 12-month low of $8.19 and a 12-month high of $14.42.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Legal & General Group Plc lifted its holdings in MAG Silver by 7.0% during the 4th quarter. Legal & General Group Plc now owns 15,038 shares of the company's stock worth $235,000 after buying an additional 982 shares during the last quarter. CIBC Asset Management Inc lifted its holdings in shares of MAG Silver by 1.4% in the 1st quarter. CIBC Asset Management Inc now owns 80,066 shares of the company's stock valued at $1,011,000 after purchasing an additional 1,138 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of MAG Silver by 1.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 127,638 shares of the company's stock valued at $1,421,000 after purchasing an additional 1,240 shares during the last quarter. Private Advisor Group LLC lifted its holdings in shares of MAG Silver by 6.1% in the 4th quarter. Private Advisor Group LLC now owns 24,986 shares of the company's stock valued at $260,000 after purchasing an additional 1,447 shares during the last quarter. Finally, Guggenheim Capital LLC lifted its holdings in shares of MAG Silver by 1.3% in the 2nd quarter. Guggenheim Capital LLC now owns 120,879 shares of the company's stock valued at $1,347,000 after purchasing an additional 1,500 shares during the last quarter. 52.50% of the stock is currently owned by hedge funds and other institutional investors.

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.