Stifel Canada’s Earnings Estimate for MAG Silver in Q3 2024

Recently, equities research analysts at Stifel Canada provided their estimates for MAG Silver Corp.'s (NYSEAMERICAN: MAG) earnings in the third quarter of 2024. In a report published on October 21, Stifel Canada analyst S. Soock projected that MAG Silver will earn $0.15 per share for this quarter.

The overall consensus estimate for MAG Silver's full-year earnings currently stands at $0.69 per share. Furthermore, Stifel Canada has forecasted the company's earnings for fiscal year 2024 at approximately $0.67 per share.

MAG Silver last released its quarterly earnings results on August 2, where it reported earnings of $0.21 per share. This result exceeded the consensus estimate of $0.19 by $0.02, indicating a stronger performance than analysts had anticipated.

In addition, several other analysts have recently shared their insights regarding MAG Silver. For instance, Roth MKM downgraded MAG Silver from a "buy" rating to a "neutral" rating while increasing their target price from $17.00 to $17.50. Meanwhile, HC Wainwright raised their price target from $17.00 to $18.00 and maintained a "buy" rating. Additionally, StockNews.com upgraded MAG Silver from a "sell" rating to a "hold" rating. On August 19, Scotiabank also increased their price target from $14.50 to $15.50, awarding the stock with a "sector outperform" rating. Overall, current ratings suggest that three research analysts have a "hold" rating, and three offer a "buy" rating for MAG Silver's stock. MarketBeat reports that the average rating is classified as a "Moderate Buy," with a consensus target price of $17.88.

Recent Performance of MAG Silver Stock

As of Thursday, MAG Silver shares opened at $17.85. The stock has seen a 52-week low of $8.19 and a 52-week high of $18.01. MAG Silver has a market capitalization amounting to approximately $1.84 billion, with a price-to-earnings ratio of 30.78. The beta value stands at 1.15, indicating its volatility compared to the market.

Investors' Interest in MAG Silver

Several institutional investors have made recent adjustments to their holdings in MAG Silver. Perritt Capital Management Inc. acquired a new position in the shares valued at about $26,000 during the first quarter. Addenda Capital Inc. purchased a position worth approximately $123,000 in the second quarter, while International Assets Investment Management LLC bought shares worth roughly $148,000 in the third quarter. Susquehanna Fundamental Investments LLC also purchased shares valued at around $161,000 in the second quarter. Additionally, Veracity Capital LLC increased its stake in the company by 16.8% during the third quarter, holding a total of 16,653 shares worth approximately $234,000. Currently, institutional investors and hedge funds own about 52.50% of the company's stock.

About MAG Silver Corp.

MAG Silver Corp. is focused on developing and exploring precious metal properties, mainly in Canada. The company primarily targets deposits of silver, gold, lead, copper, and zinc. Its flagship property is the Juanicipio project, where it holds a 44% interest, situated in the Fresnillo District of Zacatecas State, Mexico. MAG Silver Corp. is headquartered in Vancouver, Canada.

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