MAG Silver Corp. (NYSEAMERICAN:MAG) Forecasted to Earn Q1 2024 Earnings of $0.07 Per Share

MAG Silver Corp. (NYSEAMERICAN:MAG - Free Report) - Stock analysts at Cormark issued their Q1 2024 earnings estimates for shares of MAG Silver in a report issued on Monday, April 22nd. Cormark analyst N. Dion anticipates that the company will post earnings of $0.07 per share for the quarter. The consensus estimate for MAG Silver's current full-year earnings is $0.47 per share.

MAG has been the topic of a number of other reports. Stifel Nicolaus lowered their target price on MAG Silver from $20.00 to $19.00 and set a "buy" rating on the stock in a research note on Wednesday, March 20th. StockNews.com upgraded MAG Silver to a "sell" rating in a research note on Wednesday, March 27th. Scotiabank upgraded MAG Silver from a "sector perform" rating to a "sector outperform" rating and lowered their target price for the stock from $15.00 to $13.50 in a research note on Thursday, March 28th. Finally, HC Wainwright lowered their price objective on MAG Silver from $19.50 to $16.00 and set a "buy" rating on the stock in a research note on Thursday, April 4th. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the company. According to MarketBeat.com, MAG Silver currently has an average rating of "Moderate Buy" and an average price target of $18.00.

MAG Silver Price Performance

MAG traded up $0.31 during mid-day trading on Tuesday, reaching $12.16. 715,805 shares of the stock were exchanged, compared to its average volume of 860,320. The company has a market capitalization of $1.25 billion, a price-to-earnings ratio of 25.81 and a beta of 1.15. MAG Silver has a 1 year low of $8.19 and a 1 year high of $13.62.

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

Institutional Trading of MAG Silver

A number of institutional investors have recently made changes to their positions in MAG. Banque Cantonale Vaudoise lifted its position in MAG Silver by 8.6% during the first quarter. Banque Cantonale Vaudoise now owns 11,012 shares of the company's stock valued at $116,000 after buying an additional 876 shares during the period. Crown Wealth Group LLC purchased a new position in MAG Silver during the fourth quarter valued at $118,000. Quadrature Capital Ltd purchased a new position in MAG Silver during the third quarter valued at $127,000. Privium Fund Management B.V. lifted its position in MAG Silver by 44.9% during the third quarter. Privium Fund Management B.V. now owns 15,500 shares of the company's stock valued at $161,000 after buying an additional 4,800 shares during the period. Finally, Veracity Capital LLC raised its position in shares of MAG Silver by 50.0% in the 4th quarter. Veracity Capital LLC now owns 16,654 shares of the company's stock worth $173,000 after purchasing an additional 5,551 shares during the last quarter. Hedge funds and other institutional investors own 52.50% of the company's stock.

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.