Raymond James Analysts Cut Earnings Estimates for MAG Silver

MAG Silver Corp. (TSE:MAG) (NYSEAMERICAN:MAG) – Equities researchers at Raymond James dropped their FY2024 earnings per share estimates for MAG Silver in a research report issued to clients and investors on Wednesday, November 13th. Raymond James analyst B. Macarthur now forecasts that the company will earn $1.04 per share for the year, down from their prior estimate of $1.06. Raymond James has a “Outperform” rating and a $26.00 price target on the stock. The consensus estimate for MAG Silver’s current full-year earnings is $1.22 per share.

Several other research firms have also weighed in on MAG. Roth Capital lowered MAG Silver from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 24th. CIBC upped their price target on shares of MAG Silver from C$24.00 to C$25.00 in a report on Wednesday, November 13th. TD Securities increased their price objective on shares of MAG Silver from C$22.00 to C$25.00 in a research report on Friday, October 18th. BMO Capital Markets upped their target price on MAG Silver from C$24.00 to C$26.00 in a research note on Friday, October 25th. Finally, Stifel Nicolaus upped their price objective on MAG Silver from C$21.50 to C$25.00 in a research report on Monday, October 21st. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, MAG Silver currently has a consensus rating of “Moderate Buy” and an average price target of C$24.71.

MAG Silver Trading Down 1.3 %

MAG opened at C$21.07 on Monday. The stock has a 50-day moving average of C$20.92 and a 200 day moving average of C$18.74. The company has a current ratio of 28.03, a quick ratio of 25.31 and a debt-to-equity ratio of 0.01. MAG Silver has a 12 month low of C$11.15 and a 12 month high of C$25.36. The firm has a market cap of C$2.17 billion, a P/E ratio of 26.67, a P/E/G ratio of 0.84 and a beta of 1.14.

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

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.