FY2024 Earnings Estimate for MAG Silver Issued By Scotiabank

MAG Silver Corp. (TSE:MAG) (NYSEAMERICAN:MAG) – Investment analysts at Scotiabank boosted their FY2024 earnings per share estimates for MAG Silver in a research report issued to clients and investors on Wednesday, January 8th. Scotiabank analyst O. Habib now forecasts that the company will post earnings per share of $0.77 for the year, up from their prior forecast of $0.75. The consensus estimate for MAG Silver’s current full-year earnings is $1.22 per share.

MAG Silver (TSE:MAG) (NYSEAMERICAN:MAG) last released its quarterly earnings data on Tuesday, November 12th. The company reported C$0.30 EPS for the quarter, beating analysts’ consensus estimates of C$0.28 by C$0.02.

Several other brokerages have also recently issued reports on MAG. BMO Capital Markets upped their target price on shares of MAG Silver from C$24.00 to C$26.00 in a report on Friday, October 25th. Panmure Gordon upped their price objective on shares of MAG Silver from C$26.40 to C$27.10 in a research note on Friday, November 22nd. Stifel Nicolaus raised their price objective on MAG Silver from C$25.00 to C$25.50 in a report on Monday, November 25th. Raymond James boosted their target price on MAG Silver from C$23.00 to C$26.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Finally, Roth Capital downgraded MAG Silver from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 24th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, MAG Silver currently has a consensus rating of “Moderate Buy” and an average target price of C$25.20.

MAG Silver Stock Performance

Shares of MAG opened at C$20.85 on Friday. The company has a quick ratio of 25.31, a current ratio of 28.03 and a debt-to-equity ratio of 0.01. MAG Silver has a 52-week low of C$11.15 and a 52-week high of C$25.36. The stock has a 50 day moving average price of C$21.28 and a 200 day moving average price of C$19.60. The company has a market capitalization of C$2.15 billion, a price-to-earnings ratio of 26.39, a price-to-earnings-growth ratio of 0.84 and a beta of 1.14.

Insider Buying and Selling

In related news, Director George Nickolas Paspalas sold 50,024 shares of the stock in a transaction on Thursday, December 12th. The stock was sold at an average price of C$21.87, for a total transaction of C$1,094,099.92. Corporate insiders own 0.96% of the company’s stock.

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.