HC Wainwright Increases Earnings Estimates for MAG Silver

MAG Silver Corp. (NYSEAMERICAN:MAG) – Equities researchers at HC Wainwright raised their FY2024 earnings estimates for MAG Silver in a report released on Wednesday, November 13th. HC Wainwright analyst H. Ihle now expects that the company will post earnings per share of $0.74 for the year, up from their previous forecast of $0.67. HC Wainwright has a “Buy” rating and a $20.00 price objective on the stock. The consensus estimate for MAG Silver’s current full-year earnings is $0.72 per share. HC Wainwright also issued estimates for MAG Silver’s FY2025 earnings at $0.75 EPS.

MAG Silver (NYSEAMERICAN:MAG) last released its quarterly earnings results on Tuesday, November 12th. The company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.02.

A number of other brokerages also recently commented on MAG. Roth Capital downgraded MAG Silver from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 24th. Roth Mkm cut MAG Silver from a “buy” rating to a “neutral” rating and increased their target price for the company from $17.00 to $17.50 in a research note on Thursday, October 24th. StockNews.com upgraded shares of MAG Silver from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Finally, Scotiabank increased their price objective on shares of MAG Silver from $14.50 to $15.50 and gave the company a “sector outperform” rating in a research note on Monday, August 19th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $18.38.

MAG Silver Price Performance

NYSEAMERICAN:MAG opened at $14.90 on Thursday. The stock has a market capitalization of $1.54 billion, a price-to-earnings ratio of 20.99 and a beta of 1.12. MAG Silver has a 1-year low of $8.19 and a 1-year high of $18.27.

Institutional Trading of MAG Silver

Several institutional investors have recently added to or reduced their stakes in the business. Barclays PLC boosted its stake in MAG Silver by 211.5% in the third quarter. Barclays PLC now owns 30,780 shares of the company’s stock valued at $432,000 after acquiring an additional 20,899 shares during the period. Public Employees Retirement System of Ohio bought a new stake in shares of MAG Silver in the 3rd quarter worth approximately $390,000. DF Dent & Co. Inc. acquired a new position in MAG Silver during the 3rd quarter valued at approximately $140,000. National Bank of Canada FI grew its stake in MAG Silver by 12.0% during the 3rd quarter. National Bank of Canada FI now owns 225,802 shares of the company’s stock worth $3,171,000 after buying an additional 24,185 shares during the last quarter. Finally, Verition Fund Management LLC acquired a new stake in MAG Silver in the third quarter worth $168,000. Institutional investors own 52.50% of the company’s stock.

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.