MAG Silver Corp. (NYSEAMERICAN:MAG – Free Report) – Research analysts at Raymond James dropped their Q1 2024 earnings per share (EPS) estimates for shares of MAG Silver in a report issued on Monday, October 2nd. Raymond James analyst B. Macarthur now expects that the company will earn $0.15 per share for the quarter, down from their previous forecast of $0.23. The consensus estimate for MAG Silver’s current full-year earnings is $0.69 per share. Raymond James also issued estimates for MAG Silver’s Q2 2024 earnings at $0.15 EPS, Q3 2024 earnings at $0.16 EPS and Q4 2024 earnings at $0.18 EPS.
A number of other equities analysts have also commented on MAG. Stifel Nicolaus reduced their target price on shares of MAG Silver from $26.00 to $22.75 and set a “buy” rating on the stock in a research report on Thursday, July 13th. StockNews.com began coverage on shares of MAG Silver in a research report on Wednesday, August 23rd. They set a “sell” rating on the stock. BMO Capital Markets began coverage on shares of MAG Silver in a report on Thursday, September 14th. They set an “outperform” rating and a $23.50 price objective on the stock. HC Wainwright reissued a “buy” rating and set a $20.50 price objective on shares of MAG Silver in a report on Wednesday, August 9th. Finally, Scotiabank cut their price objective on shares of MAG Silver from $16.00 to $15.50 in a report on Monday, August 14th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, MAG Silver presently has an average rating of “Hold” and a consensus target price of $23.22.
MAG Silver Stock Down 2.0 %
Shares of NYSEAMERICAN:MAG opened at $9.88 on Wednesday. MAG Silver has a 12 month low of $9.78 and a 12 month high of $17.02. The stock has a market capitalization of $1.02 billion, a P/E ratio of 31.87 and a beta of 1.13.
MAG Silver (NYSEAMERICAN:MAG – Get Free Report) last released its quarterly earnings data on Monday, August 7th. The company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.17 by $0.02.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently added to or reduced their stakes in MAG. Van ECK Associates Corp increased its stake in MAG Silver by 137.6% during the 2nd quarter. Van ECK Associates Corp now owns 9,340,066 shares of the company’s stock worth $104,050,000 after purchasing an additional 5,409,886 shares in the last quarter. BlackRock Inc. acquired a new position in MAG Silver during the second quarter worth about $11,613,000. 1832 Asset Management L.P. boosted its holdings in shares of MAG Silver by 103.5% during the 4th quarter. 1832 Asset Management L.P. now owns 865,000 shares of the company’s stock worth $13,520,000 after buying an additional 440,000 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of MAG Silver by 98.1% in the 1st quarter. Invesco Ltd. now owns 849,779 shares of the company’s stock worth $13,741,000 after purchasing an additional 420,757 shares in the last quarter. Finally, Bank of Montreal Can purchased a new stake in shares of MAG Silver during the 2nd quarter valued at $3,562,000. Institutional investors and hedge funds own 42.80% of the company’s stock.
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.
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