Cormark Comments on MAG Silver’s FY2024 Earnings (TSE:MAG)

MAG Silver Corp. (TSE:MAG) (NYSEAMERICAN:MAG) – Stock analysts at Cormark upped their FY2024 earnings estimates for shares of MAG Silver in a research note issued to investors on Wednesday, November 13th. Cormark analyst N. Dion now expects that the company will post earnings per share of $1.11 for the year, up from their prior estimate of $1.08. The consensus estimate for MAG Silver’s current full-year earnings is $1.22 per share.

MAG Silver (TSE:MAG) (NYSEAMERICAN:MAG) last posted its quarterly earnings data on Tuesday, November 12th. The company reported C$0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.28 by C$0.02.

A number of other equities research analysts have also recently commented on the stock. Roth Capital cut shares of MAG Silver from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 24th. Raymond James boosted their price objective on MAG Silver from C$23.00 to C$26.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Stifel Nicolaus raised their price target on shares of MAG Silver from C$21.50 to C$25.00 in a report on Monday, October 21st. BMO Capital Markets boosted their price objective on shares of MAG Silver from C$24.00 to C$26.00 in a report on Friday, October 25th. Finally, CIBC boosted their target price on MAG Silver from C$24.00 to C$25.00 in a research report on Wednesday. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, MAG Silver currently has an average rating of “Moderate Buy” and an average price target of C$24.71.

MAG Silver Trading Down 1.3 %

Shares of MAG Silver stock opened at C$21.07 on Thursday. MAG Silver has a 12-month low of C$11.15 and a 12-month high of C$25.36. The firm’s 50 day simple moving average is C$20.83 and its two-hundred day simple moving average is C$18.71. The company has a current ratio of 28.03, a quick ratio of 25.31 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of C$2.17 billion, a price-to-earnings ratio of 26.67, a PEG ratio of 0.84 and a beta of 1.14.

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.