MAG Silver Corp. (NYSEAMERICAN:MAG – Get Rating) – Research analysts at Raymond James reduced their FY2022 earnings per share (EPS) estimates for MAG Silver in a report released on Tuesday, May 17th. Raymond James analyst B. Macarthur now forecasts that the company will post earnings per share of $0.70 for the year, down from their prior estimate of $0.71. Raymond James also issued estimates for MAG Silver’s Q4 2023 earnings at $0.31 EPS and FY2023 earnings at $1.17 EPS.
Other equities research analysts have also issued reports about the company. Zacks Investment Research raised MAG Silver from a “strong sell” rating to a “hold” rating in a research report on Wednesday, April 6th. Stifel Nicolaus cut their price objective on MAG Silver from C$30.50 to C$30.00 in a report on Wednesday, April 27th. HC Wainwright decreased their target price on shares of MAG Silver from $22.00 to $21.50 and set a “buy” rating for the company in a report on Monday, April 4th. TD Securities dropped their target price on shares of MAG Silver from C$31.00 to C$28.00 in a research report on Wednesday. Finally, Scotiabank downgraded shares of MAG Silver from a “sector outperform” rating to a “sector perform” rating in a research report on Friday, January 21st. They noted that the move was a valuation call. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, MAG Silver currently has a consensus rating of “Buy” and an average target price of $26.16.
MAG opened at $14.51 on Friday. The firm has a market cap of $1.42 billion, a PE ratio of 181.40 and a beta of 1.10. MAG Silver has a fifty-two week low of $12.05 and a fifty-two week high of $24.13.
MAG Silver (NYSEAMERICAN:MAG – Get Rating) last issued its earnings results on Thursday, March 31st. The company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.05.
Several large investors have recently modified their holdings of the business. Bank of America Corp DE grew its holdings in shares of MAG Silver by 8.9% during the 4th quarter. Bank of America Corp DE now owns 16,510 shares of the company’s stock valued at $259,000 after acquiring an additional 1,344 shares in the last quarter. Geneos Wealth Management Inc. boosted its position in MAG Silver by 89.6% during the first quarter. Geneos Wealth Management Inc. now owns 3,385 shares of the company’s stock valued at $54,000 after purchasing an additional 1,600 shares during the last quarter. Shell Asset Management Co. boosted its position in MAG Silver by 22.0% during the fourth quarter. Shell Asset Management Co. now owns 9,971 shares of the company’s stock valued at $157,000 after purchasing an additional 1,800 shares during the last quarter. Banque Cantonale Vaudoise grew its stake in MAG Silver by 4.6% in the first quarter. Banque Cantonale Vaudoise now owns 42,192 shares of the company’s stock valued at $683,000 after purchasing an additional 1,841 shares in the last quarter. Finally, Credit Suisse AG increased its position in MAG Silver by 3.0% in the 3rd quarter. Credit Suisse AG now owns 71,751 shares of the company’s stock worth $1,162,000 after purchasing an additional 2,109 shares during the last quarter. 48.55% of the stock is owned by institutional investors.
MAG Silver Company Profile (Get Rating)
MAG Silver Corp. engages in the exploration and development of precious metal mining properties. The company explores for silver, gold, lead, and zinc deposits. It primarily holds 44% interest in the Juanicipio project located in the Fresnillo District, Zacatecas State, Mexico. The company is headquartered in Vancouver, Canada.
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