MAG Silver Corp. (NYSEAMERICAN:MAG – Free Report) – Research analysts at HC Wainwright dropped their FY2024 EPS estimates for MAG Silver in a report issued on Thursday, April 4th. HC Wainwright analyst H. Ihle now forecasts that the company will post earnings of $0.56 per share for the year, down from their previous estimate of $0.63. HC Wainwright has a “Buy” rating and a $16.00 price target on the stock. The consensus estimate for MAG Silver’s current full-year earnings is $0.48 per share.
MAG Silver (NYSEAMERICAN:MAG – Get Free Report) last announced its earnings results on Tuesday, March 19th. The company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.01.
MAG has been the subject of several other reports. StockNews.com upgraded shares of MAG Silver to a “sell” rating in a research report on Wednesday, March 27th. Scotiabank raised shares of MAG Silver from a “sector perform” rating to a “sector outperform” rating and lowered their price objective for the company from $15.00 to $13.50 in a research note on Thursday, March 28th. Finally, Stifel Nicolaus decreased their price target on shares of MAG Silver from $20.00 to $19.00 and set a “buy” rating for the company in a research note on Wednesday, March 20th. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $18.00.
Check Out Our Latest Stock Report on MAG Silver
MAG Silver Stock Up 2.9 %
Shares of NYSEAMERICAN:MAG opened at $12.11 on Friday. MAG Silver has a 52-week low of $8.19 and a 52-week high of $14.42. The firm has a market capitalization of $1.25 billion, a P/E ratio of 25.77 and a beta of 1.15.
Hedge Funds Weigh In On MAG Silver
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Goldman Sachs Group Inc. increased its stake in shares of MAG Silver by 82.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 343,188 shares of the company’s stock valued at $3,573,000 after purchasing an additional 155,096 shares in the last quarter. Virtu Financial LLC purchased a new stake in shares of MAG Silver during the fourth quarter valued at approximately $156,000. Legal & General Group Plc grew its holdings in shares of MAG Silver by 5.7% during the fourth quarter. Legal & General Group Plc now owns 75,590 shares of the company’s stock valued at $790,000 after buying an additional 4,100 shares during the last quarter. Nuveen Asset Management LLC purchased a new stake in shares of MAG Silver during the fourth quarter valued at approximately $885,000. Finally, Point72 Asset Management L.P. purchased a new stake in shares of MAG Silver during the fourth quarter valued at approximately $141,000. Institutional investors own 52.50% of the company’s stock.
MAG Silver Company Profile
MAG Silver Corp. engages in the exploration and development of precious metal mining properties. The company explores for silver, gold, lead, copper, and zinc deposits. It primarily holds 44% interest in the Juanicipio project located in the Fresnillo District, Zacatecas State, Mexico. MAG Silver Corp.
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