MAG Silver (TSE:MAG) Downgraded to Hold at Roth Capital

MAG Silver (TSE:MAG) (NYSEAMERICAN:MAG) was downgraded by Roth Capital from a “strong-buy” rating to a “hold” rating in a note issued to investors on Thursday, Zacks.com reports. Roth Capital also issued estimates for MAG Silver’s Q3 2024 earnings at $0.37 EPS and FY2024 earnings at $1.17 EPS.

Other research analysts also recently issued research reports about the company. TD Securities upped their price objective on MAG Silver from C$22.00 to C$25.00 in a research note on Friday, October 18th. Stifel Nicolaus increased their price objective on MAG Silver from C$21.50 to C$25.00 in a report on Monday. Finally, Raymond James upped their price target on MAG Silver from C$23.00 to C$26.00 and gave the company an “outperform” rating in a research report on Thursday. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of C$22.50.

MAG Silver Price Performance

The company has a fifty day moving average of C$19.32 and a 200 day moving average of C$18.03. The firm has a market capitalization of C$2.55 billion, a price-to-earnings ratio of 31.28, a P/E/G ratio of 0.84 and a beta of 1.14. MAG Silver has a 52-week low of C$11.15 and a 52-week high of C$24.88. The company has a debt-to-equity ratio of 0.01, a current ratio of 28.03 and a quick ratio of 25.31.

MAG Silver (TSE:MAG) (NYSEAMERICAN:MAG) last released its quarterly earnings data on Thursday, August 1st. The company reported C$0.28 earnings per share for the quarter, beating the consensus estimate of C$0.27 by C$0.01. On average, analysts expect that MAG Silver will post 1.2235023 earnings per share for the current year.

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.