Q3 2024 EPS Estimates for MAG Silver Corp. (NYSEAMERICAN:MAG) Reduced by Analyst

MAG Silver Corp. (NYSEAMERICAN:MAG - Free Report) - Research analysts at Raymond James lowered their Q3 2024 earnings estimates for MAG Silver in a research report issued to clients and investors on Wednesday, April 24th. Raymond James analyst B. Macarthur now anticipates that the company will post earnings per share of $0.17 for the quarter, down from their prior forecast of $0.18. The consensus estimate for MAG Silver's current full-year earnings is $0.53 per share. Raymond James also issued estimates for MAG Silver's Q4 2024 earnings at $0.17 EPS.

Several other equities analysts also recently commented on the company. HC Wainwright upped their price objective on MAG Silver from $16.00 to $17.00 and gave the company a "buy" rating in a research note on Thursday. Stifel Nicolaus dropped their price objective 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. Finally, Scotiabank upgraded MAG Silver from a "sector perform" rating to a "sector outperform" rating and dropped their target price for the stock from $15.00 to $13.50 in a research report on Thursday, March 28th. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $18.25.

MAG Silver Stock Performance

Shares of MAG stock remained flat at $12.97 during trading on Friday. The stock had a trading volume of 765,872 shares, compared to its average volume of 857,822. The company has a market capitalization of $1.34 billion, a price-to-earnings ratio of 27.60 and a beta of 1.15. MAG Silver has a 52 week low of $8.19 and a 52 week 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 EPS for the quarter, topping analysts' consensus estimates of $0.13 by $0.01.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Van ECK Associates Corp boosted its holdings in shares of MAG Silver by 4.4% during the third quarter. Van ECK Associates Corp now owns 9,746,401 shares of the company's stock worth $101,069,000 after purchasing an additional 406,335 shares during the period. Raymond James Financial Services Advisors Inc. lifted its holdings in MAG Silver by 6.6% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 63,884 shares of the company's stock worth $665,000 after buying an additional 3,950 shares during the period. Quadrature Capital Ltd purchased a new stake in MAG Silver in the third quarter worth about $127,000. Oppenheimer & Co. Inc. lifted its holdings in MAG Silver by 1.9% in the third quarter. Oppenheimer & Co. Inc. now owns 361,116 shares of the company's stock worth $3,745,000 after buying an additional 6,895 shares during the period. Finally, Invesco Ltd. lifted its holdings in shares of MAG Silver by 8.8% during the third quarter. Invesco Ltd. now owns 1,465,920 shares of the company's stock valued at $15,202,000 after purchasing an additional 118,211 shares during the last quarter. 52.50% of the stock is 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.