FY2024 EPS Estimates for MAG Silver Corp. Cut by HC Wainwright (NYSEAMERICAN:MAG)

MAG Silver Corp. (NYSEAMERICAN:MAG - Free Report) - Equities researchers at HC Wainwright decreased their FY2024 earnings per share estimates for MAG Silver in a report released on Thursday, April 4th. HC Wainwright analyst H. Ihle now anticipates that the company will earn $0.56 per share for the year, down from their prior forecast of $0.63. HC Wainwright has a "Buy" rating and a $16.00 price objective on the stock. The consensus estimate for MAG Silver's current full-year earnings is $0.48 per share.

A number of other analysts have also issued reports on MAG. Scotiabank raised MAG Silver from a "sector perform" rating to a "sector outperform" rating and lowered their target price for the company from $15.00 to $13.50 in a report on Thursday, March 28th. Stifel Nicolaus lowered their price objective on shares of MAG Silver from $20.00 to $19.00 and set a "buy" rating on the stock in a research note on Wednesday, March 20th. Finally, StockNews.com upgraded shares of MAG Silver to a "sell" rating in a research note on Wednesday, March 27th. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $18.00.

MAG Silver Stock Performance

Shares of MAG Silver stock traded up $0.34 during trading on Friday, reaching $12.11. The company's stock had a trading volume of 1,427,903 shares, compared to its average volume of 804,184. MAG Silver has a one year low of $8.19 and a one year high of $14.42. The firm has a market capitalization of $1.25 billion, a PE ratio of 25.21 and a beta of 1.15.

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

Institutional Investors Weigh In On MAG Silver

A number of institutional investors have recently bought and sold shares of MAG. Legal & General Group Plc grew its stake in shares of MAG Silver by 7.0% in the 4th quarter. Legal & General Group Plc now owns 15,038 shares of the company's stock valued at $235,000 after purchasing an additional 982 shares during the period. CIBC Asset Management Inc grew its position in MAG Silver by 1.4% in the first quarter. CIBC Asset Management Inc now owns 80,066 shares of the company's stock valued at $1,011,000 after acquiring an additional 1,138 shares during the period. The Manufacturers Life Insurance Company raised its stake in MAG Silver by 1.0% during the second quarter. The Manufacturers Life Insurance Company now owns 127,638 shares of the company's stock worth $1,421,000 after acquiring an additional 1,240 shares in the last quarter. Private Advisor Group LLC lifted its holdings in shares of MAG Silver by 6.1% during the fourth quarter. Private Advisor Group LLC now owns 24,986 shares of the company's stock valued at $260,000 after acquiring an additional 1,447 shares during the period. Finally, Geneos Wealth Management Inc. boosted its stake in shares of MAG Silver by 89.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 3,385 shares of the company's stock valued at $54,000 after purchasing an additional 1,600 shares in the last quarter. Institutional investors and hedge funds own 52.50% of the company's stock.

About MAG Silver

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.