Q3 Earnings Estimate for MAG Silver Issued By Stifel Canada

by · The Markets Daily

MAG Silver Corp. (NYSEAMERICAN:MAG – Free Report) – Equities research analysts at Stifel Canada issued their Q3 2024 earnings per share estimates for shares of MAG Silver in a research report issued on Monday, October 21st. Stifel Canada analyst S. Soock anticipates that the company will post earnings per share of $0.15 for the quarter. The consensus estimate for MAG Silver’s current full-year earnings is $0.69 per share. Stifel Canada also issued estimates for MAG Silver’s FY2024 earnings at $0.67 EPS.

MAG Silver (NYSEAMERICAN:MAG – Get Free Report) last released its quarterly earnings data on Friday, August 2nd. The company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.02.

A number of other analysts have also issued reports on the company. Roth Mkm lowered MAG Silver from a “buy” rating to a “neutral” rating and increased their target price for the company from $17.00 to $17.50 in a report on Thursday. HC Wainwright increased their target price on MAG Silver from $17.00 to $18.00 and gave the company a “buy” rating in a report on Monday, August 5th. Finally, Scotiabank increased their target price on MAG Silver from $14.50 to $15.50 and gave the company a “sector outperform” rating in a report on Monday, August 19th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $17.88.

Read Our Latest Research Report on MAG

MAG Silver Price Performance

MAG opened at $17.80 on Thursday. The firm has a market cap of $1.84 billion, a PE ratio of 30.69 and a beta of 1.15. MAG Silver has a fifty-two week low of $8.19 and a fifty-two week high of $18.01.

Institutional Trading of MAG Silver

Several hedge funds and other institutional investors have recently modified their holdings of MAG. Van ECK Associates Corp grew its position in MAG Silver by 7.5% in the first quarter. Van ECK Associates Corp now owns 9,981,600 shares of the company’s stock worth $105,603,000 after acquiring an additional 696,140 shares in the last quarter. Jupiter Asset Management Ltd. grew its position in MAG Silver by 6.5% in the first quarter. Jupiter Asset Management Ltd. now owns 2,517,445 shares of the company’s stock worth $26,584,000 after acquiring an additional 153,274 shares in the last quarter. Tidal Investments LLC bought a new stake in MAG Silver in the first quarter worth approximately $22,518,000. Azarias Capital Management L.P. grew its position in MAG Silver by 73.7% in the first quarter. Azarias Capital Management L.P. now owns 1,405,136 shares of the company’s stock worth $14,866,000 after acquiring an additional 596,283 shares in the last quarter. Finally, TD Asset Management Inc grew its position in MAG Silver by 118.3% in the second quarter. TD Asset Management Inc now owns 1,063,055 shares of the company’s stock worth $12,415,000 after acquiring an additional 576,156 shares in the last quarter. 52.50% of the stock is currently owned by hedge funds and other institutional investors.

About MAG Silver

(Get Free Report)

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.

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