FY2024 Earnings Forecast for MAG Silver Issued By Scotiabank

MAG Silver Corp. (NYSEAMERICAN:MAG) – Equities researchers at Scotiabank reduced their FY2024 EPS estimates for MAG Silver in a research note issued on Wednesday, January 8th. Scotiabank analyst O. Habib now anticipates that the company will earn $0.54 per share for the year, down from their previous forecast of $0.55. The consensus estimate for MAG Silver’s current full-year earnings is $0.75 per share. Scotiabank also issued estimates for MAG Silver’s FY2025 earnings at $0.51 EPS and FY2026 earnings at $0.48 EPS.

MAG Silver (NYSEAMERICAN:MAG) last issued its earnings results on Tuesday, November 12th. The company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.02.

A number of other research analysts have also commented on the stock. Roth Capital lowered shares of MAG Silver from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 24th. HC Wainwright boosted their target price on MAG Silver from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. StockNews.com raised MAG Silver from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Finally, Roth Mkm lowered MAG Silver from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $17.00 to $17.50 in a report on Thursday, October 24th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, MAG Silver currently has a consensus rating of “Hold” and an average price target of $18.38.

MAG Silver Stock Performance

Shares of MAG stock opened at $14.66 on Monday. The company has a market cap of $1.51 billion, a P/E ratio of 20.65 and a beta of 1.07. MAG Silver has a 12 month low of $8.19 and a 12 month high of $18.27.

Institutional Trading of MAG Silver

Several large investors have recently bought and sold shares of the company. Van ECK Associates Corp increased its stake in shares of MAG Silver by 4.8% in the 3rd quarter. Van ECK Associates Corp now owns 10,231,410 shares of the company’s stock worth $143,649,000 after acquiring an additional 467,817 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in MAG Silver by 199.7% in the third quarter. The Manufacturers Life Insurance Company now owns 382,027 shares of the company’s stock worth $5,374,000 after purchasing an additional 254,553 shares during the period. JPMorgan Chase & Co. increased its stake in shares of MAG Silver by 69.1% during the third quarter. JPMorgan Chase & Co. now owns 456,335 shares of the company’s stock valued at $6,407,000 after purchasing an additional 186,445 shares in the last quarter. Mackenzie Financial Corp lifted its holdings in shares of MAG Silver by 310.5% during the second quarter. Mackenzie Financial Corp now owns 190,385 shares of the company’s stock valued at $2,224,000 after purchasing an additional 144,007 shares during the last quarter. Finally, PCJ Investment Counsel Ltd. boosted its position in shares of MAG Silver by 38.1% in the 3rd quarter. PCJ Investment Counsel Ltd. now owns 369,290 shares of the company’s stock worth $5,196,000 after purchasing an additional 101,870 shares in the last quarter. 52.50% of the stock is owned by institutional investors.

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.