Raymond James Analysts Raise Earnings Estimates for MAG Silver Corp. (TSE:MAG)

MAG Silver Corp. (TSE:MAG) (NYSEAMERICAN:MAG) – Research analysts at Raymond James boosted their Q1 2024 earnings per share (EPS) estimates for shares of MAG Silver in a note issued to investors on Wednesday, April 24th. Raymond James analyst B. Macarthur now anticipates that the company will post earnings of $0.19 per share for the quarter, up from their prior forecast of $0.14. The consensus estimate for MAG Silver’s current full-year earnings is $0.55 per share. Raymond James also issued estimates for MAG Silver’s Q2 2024 earnings at $0.25 EPS, Q3 2024 earnings at $0.25 EPS, Q4 2024 earnings at $0.25 EPS and FY2024 earnings at $0.90 EPS.

A number of other research analysts have also recently weighed in on the company. TD Securities lowered their price objective on MAG Silver from C$20.00 to C$18.00 and set a “buy” rating on the stock in a research report on Wednesday, March 20th. National Bankshares lowered their price target on MAG Silver from C$21.75 to C$21.50 in a report on Friday, April 19th. Canaccord Genuity Group boosted their price target on MAG Silver from C$20.00 to C$22.00 in a report on Tuesday. BMO Capital Markets lowered their price target on MAG Silver from C$21.50 to C$21.00 in a report on Thursday, January 25th. Finally, Stifel Nicolaus upped their price objective on MAG Silver from C$19.50 to C$20.50 in a report on Friday, April 19th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of C$19.83.

MAG Silver Stock Down 0.4 %

MAG stock opened at C$16.55 on Thursday. MAG Silver has a twelve month low of C$11.15 and a twelve month high of C$18.51. The company has a quick ratio of 25.31, a current ratio of 15.04 and a debt-to-equity ratio of 0.03. The stock has a market cap of C$1.70 billion, a P/E ratio of 25.86, a PEG ratio of 0.84 and a beta of 1.00. The business’s 50-day moving average price is C$13.75 and its 200-day moving average price is C$13.84.

MAG Silver (TSE:MAG) (NYSEAMERICAN:MAG) last posted its quarterly earnings data on Tuesday, March 19th. The company reported C$0.19 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.18 by C$0.01.

Insider Activity

In other MAG Silver news, Senior Officer Michael John Curlook sold 18,779 shares of the company’s stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of C$16.91, for a total value of C$317,552.89. In other MAG Silver news, Senior Officer Michael John Curlook sold 18,779 shares of the company’s stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of C$16.91, for a total value of C$317,552.89. Also, Director George Nickolas Paspalas sold 11,634 shares of the company’s stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of C$15.85, for a total value of C$184,398.90. In the last 90 days, insiders have sold 106,704 shares of company stock valued at $1,752,125. 0.47% of the stock is currently owned by insiders.

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.