Roth Capital Decreases Earnings Estimates for MAG Silver

MAG Silver Corp. (NYSEAMERICAN:MAG) – Equities researchers at Roth Capital cut their FY2024 EPS estimates for shares of MAG Silver in a research note issued to investors on Tuesday, November 12th. Roth Capital analyst J. Reagor now forecasts that the company will earn $0.80 per share for the year, down from their previous forecast of $0.86. Roth Capital currently has a “Hold” rating on the stock. The consensus estimate for MAG Silver’s current full-year earnings is $0.72 per share.

Several other research analysts also recently commented on MAG. StockNews.com raised MAG Silver from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Roth Mkm downgraded shares of MAG Silver from a “buy” rating to a “neutral” rating and lifted their price target for the company from $17.00 to $17.50 in a report on Thursday, October 24th. Scotiabank raised their price target on MAG Silver from $14.50 to $15.50 and gave the company a “sector outperform” rating in a report on Monday, August 19th. Finally, HC Wainwright increased their target price on MAG Silver from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Wednesday. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, MAG Silver presently has an average rating of “Hold” and a consensus target price of $18.38.

MAG Silver Trading Down 2.0 %

Shares of MAG Silver stock opened at $14.90 on Friday. The firm has a market capitalization of $1.54 billion, a P/E ratio of 20.99 and a beta of 1.12. MAG Silver has a one year low of $8.19 and a one year high of $18.27.

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, topping the consensus estimate of $0.20 by $0.02.

Hedge Funds Weigh In On MAG Silver

Institutional investors have recently added to or reduced their stakes in the company. Perritt Capital Management Inc. purchased a new stake in shares of MAG Silver during the 1st quarter valued at about $26,000. Capital Performance Advisors LLP purchased a new stake in MAG Silver during the third quarter valued at approximately $28,000. Quantbot Technologies LP bought a new stake in shares of MAG Silver in the 3rd quarter valued at approximately $52,000. Addenda Capital Inc. purchased a new position in shares of MAG Silver in the 2nd quarter worth approximately $123,000. Finally, Pekin Hardy Strauss Inc. bought a new position in shares of MAG Silver during the 3rd quarter valued at approximately $140,000. Hedge funds and other institutional investors own 52.50% of the company’s stock.

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.