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

MAG Silver Corp. (NYSEAMERICAN:MAG) – Raymond James raised their Q2 2024 EPS estimates for shares of MAG Silver in a note issued to investors on Wednesday, July 24th. Raymond James analyst B. Macarthur now forecasts that the company will post earnings per share of $0.21 for the quarter, up from their previous forecast of $0.18. The consensus estimate for MAG Silver’s current full-year earnings is $0.60 per share. Raymond James also issued estimates for MAG Silver’s FY2024 earnings at $0.70 EPS, Q1 2025 earnings at $0.12 EPS, Q2 2025 earnings at $0.13 EPS, Q3 2025 earnings at $0.14 EPS, Q4 2025 earnings at $0.16 EPS and FY2025 earnings at $0.55 EPS.

MAG Silver (NYSEAMERICAN:MAG) last issued its quarterly earnings data on Tuesday, May 14th. The company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.04.

A number of other equities analysts also recently issued reports on the company. Stifel Nicolaus raised their price objective on MAG Silver from $20.25 to $20.50 and gave the stock a “buy” rating in a research report on Wednesday, May 15th. Scotiabank boosted their price target on shares of MAG Silver from $13.50 to $14.50 and gave the stock a “sector outperform” rating in a research report on Thursday, May 23rd. Ventum Cap Mkts lowered shares of MAG Silver from a “buy” rating to a “neutral” rating in a research note on Friday, May 3rd. Finally, HC Wainwright reissued a “buy” rating and set a $17.00 target price on shares of MAG Silver in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $18.88.

MAG Silver Stock Performance

Shares of MAG opened at $12.96 on Friday. MAG Silver has a 12 month low of $8.19 and a 12 month high of $14.30. The stock has a market cap of $1.34 billion, a price-to-earnings ratio of 23.14 and a beta of 1.12.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Oppenheimer & Co. Inc. boosted its holdings in MAG Silver by 23.4% in the first quarter. Oppenheimer & Co. Inc. now owns 455,150 shares of the company’s stock worth $4,815,000 after acquiring an additional 86,440 shares in the last quarter. Azarias Capital Management L.P. lifted its holdings in shares of MAG Silver by 73.7% in the 1st quarter. Azarias Capital Management L.P. now owns 1,405,136 shares of the company’s stock worth $14,866,000 after purchasing an additional 596,283 shares in the last quarter. Jupiter Asset Management Ltd. grew its position in MAG Silver by 6.5% in the 1st quarter. Jupiter Asset Management Ltd. now owns 2,517,445 shares of the company’s stock valued at $26,584,000 after purchasing an additional 153,274 shares during the period. Raymond James Financial Services Advisors Inc. increased its stake in MAG Silver by 6.6% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 63,884 shares of the company’s stock valued at $665,000 after purchasing an additional 3,950 shares in the last quarter. Finally, CIBC Asset Management Inc raised its holdings in MAG Silver by 3.0% during the fourth quarter. CIBC Asset Management Inc now owns 90,881 shares of the company’s stock worth $949,000 after buying an additional 2,652 shares during the last quarter. Institutional investors and hedge funds 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.