Roth Capital Brokers Lift Earnings Estimates for MAG Silver Corp. (NYSEAMERICAN:MAG)

MAG Silver Corp. (NYSEAMERICAN:MAG) – Investment analysts at Roth Capital lifted their FY2024 earnings estimates for shares of MAG Silver in a report issued on Monday, October 7th. Roth Capital analyst J. Reagor now expects that the company will post earnings per share of $0.81 for the year, up from their prior forecast of $0.73. The consensus estimate for MAG Silver’s current full-year earnings is $0.68 per share.

MAG has been the subject of a number of other research reports. Scotiabank upped their price objective on shares of MAG Silver from $14.50 to $15.50 and gave the company a “sector outperform” rating in a report on Monday, August 19th. HC Wainwright increased their price target on shares of MAG Silver from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Monday, August 5th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $18.00.

MAG Silver Price Performance

Shares of NYSEAMERICAN:MAG opened at $15.70 on Wednesday. MAG Silver has a 52-week low of $8.19 and a 52-week high of $15.76. The firm has a market capitalization of $1.62 billion, a price-to-earnings ratio of 28.04 and a beta of 1.14.

MAG Silver (NYSEAMERICAN:MAG) last posted its quarterly earnings results on Friday, August 2nd. The company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.19 by $0.02.

Institutional Investors Weigh In On MAG Silver

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Oppenheimer & Co. Inc. boosted its position in shares of MAG Silver by 23.4% during the 1st quarter. Oppenheimer & Co. Inc. now owns 455,150 shares of the company’s stock worth $4,815,000 after purchasing an additional 86,440 shares during the period. Azarias Capital Management L.P. lifted its stake in MAG Silver by 73.7% during the first quarter. Azarias Capital Management L.P. now owns 1,405,136 shares of the company’s stock worth $14,866,000 after purchasing an additional 596,283 shares in the last quarter. Janus Henderson Group PLC purchased a new position in shares of MAG Silver during the first quarter worth $3,925,000. Jupiter Asset Management Ltd. grew its stake in shares of MAG Silver by 6.5% in the first quarter. Jupiter Asset Management Ltd. now owns 2,517,445 shares of the company’s stock valued at $26,584,000 after buying an additional 153,274 shares in the last quarter. Finally, Mackenzie Financial Corp grew its stake in shares of MAG Silver by 310.5% in the second quarter. Mackenzie Financial Corp now owns 190,385 shares of the company’s stock valued at $2,224,000 after buying an additional 144,007 shares in the last quarter. 52.50% of the stock is owned by hedge funds and other institutional investors.

MAG Silver Company Profile

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.