Cormark Weighs in on MAG Silver Corp.’s Q2 2024 Earnings (NYSEAMERICAN:MAG)

MAG Silver Corp. (NYSEAMERICAN:MAG – Free Report) – Stock analysts at Cormark issued their Q2 2024 earnings per share (EPS) estimates for MAG Silver in a research report issued on Wednesday, July 24th. Cormark analyst N. Dion 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 $0.60 per share.

MAG Silver (NYSEAMERICAN:MAG – Get Free Report) last announced its quarterly earnings results on Tuesday, May 14th. The company reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.04.

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

Check Out Our Latest Report on MAG

MAG Silver Price Performance

Shares of MAG Silver stock opened at $13.09 on Friday. The stock has a market capitalization of $1.35 billion, a price-to-earnings ratio of 23.38 and a beta of 1.12. MAG Silver has a 12-month low of $8.19 and a 12-month high of $14.30.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Raymond James Financial Services Advisors Inc. grew its position in shares of MAG Silver by 6.6% in the fourth 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 during the period. Azarias Capital Management L.P. acquired a new position in shares of MAG Silver during the 4th quarter valued at about $8,420,000. Veracity Capital LLC lifted its holdings in shares of MAG Silver by 50.0% during the 4th quarter. Veracity Capital LLC now owns 16,654 shares of the company’s stock worth $173,000 after acquiring an additional 5,551 shares during the period. DORCHESTER WEALTH MANAGEMENT Co boosted its position in shares of MAG Silver by 12.2% in the fourth quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 29,400 shares of the company’s stock worth $307,000 after acquiring an additional 3,200 shares during the last quarter. Finally, Crown Wealth Group LLC acquired a new position in MAG Silver during the fourth quarter worth approximately $118,000. Hedge funds and other institutional investors own 52.50% of the company’s stock.

MAG Silver Company Profile

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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.