What is Cormark’s Forecast for MAG Silver FY2024 Earnings?

MAG Silver Corp. (NYSEAMERICAN:MAG) – Analysts at Cormark dropped their FY2024 earnings per share estimates for shares of MAG Silver in a research note issued to investors on Thursday, January 30th. Cormark analyst N. Dion now forecasts that the company will post earnings per share of $0.76 for the year, down from their prior estimate of $0.80. The consensus estimate for MAG Silver’s current full-year earnings is $0.75 per share.

MAG Silver (NYSEAMERICAN:MAG) last posted its quarterly earnings data 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.

Several other analysts have also recently issued reports on the stock. Roth Mkm cut shares of MAG Silver from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $17.00 to $17.50 in a research note on Thursday, October 24th. HC Wainwright lifted their target price on shares of MAG Silver from $20.00 to $21.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Roth Capital downgraded MAG Silver from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 24th. Finally, StockNews.com raised MAG Silver from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $18.63.

MAG Silver Trading Up 1.0 %

NYSEAMERICAN MAG opened at $16.10 on Monday. MAG Silver has a twelve month low of $8.19 and a twelve month high of $18.27. The stock has a market cap of $1.66 billion, a P/E ratio of 22.68 and a beta of 1.09.

Institutional Investors Weigh In On MAG Silver

A number of hedge funds have recently bought and sold shares of MAG. CIBC Asset Management Inc raised its stake in shares of MAG Silver by 0.7% in the 4th quarter. CIBC Asset Management Inc now owns 114,355 shares of the company’s stock valued at $1,550,000 after purchasing an additional 755 shares in the last quarter. Capital Performance Advisors LLP acquired a new position in shares of MAG Silver in the 3rd quarter worth approximately $28,000. Veracity Capital LLC increased its holdings in shares of MAG Silver by 16.8% in the 3rd quarter. Veracity Capital LLC now owns 16,653 shares of the company’s stock valued at $234,000 after acquiring an additional 2,396 shares during the last quarter. Quantbot Technologies LP acquired a new stake in shares of MAG Silver during the 3rd quarter valued at approximately $52,000. Finally, DF Dent & Co. Inc. bought a new position in MAG Silver during the third quarter worth $140,000. 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.