Scotiabank Estimates MAG Silver’s FY2024 Earnings (TSE:MAG)

MAG Silver Corp. (TSE:MAG) (NYSEAMERICAN:MAG) – Equities research analysts at Scotiabank lifted their FY2024 EPS estimates for MAG Silver in a research note issued to investors on Wednesday, January 8th. Scotiabank analyst O. Habib now forecasts that the company will post earnings of $0.77 per share for the year, up from their prior estimate 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 issued its earnings results on Tuesday, November 12th. The company reported C$0.30 earnings per share for the quarter, topping the consensus estimate of C$0.28 by C$0.02.

Other research analysts have also recently issued research reports about the stock. Roth Capital cut shares of MAG Silver from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 24th. Stifel Nicolaus raised their target price on MAG Silver from C$25.00 to C$25.50 in a research note on Monday, November 25th. Panmure Gordon lifted their target price on MAG Silver from C$26.40 to C$27.10 in a research report on Friday, November 22nd. CIBC increased their price target on MAG Silver from C$25.00 to C$26.00 in a report on Monday, December 2nd. Finally, TD Securities boosted their price objective on shares of MAG Silver from C$22.00 to C$25.00 in a report on Friday, October 18th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of C$25.20.

MAG Silver Stock Performance

TSE MAG opened at C$20.85 on Friday. MAG Silver has a fifty-two week low of C$11.15 and a fifty-two week high of C$25.36. The company has a debt-to-equity ratio of 0.01, a quick ratio of 25.31 and a current ratio of 28.03. The stock’s fifty day moving average is C$21.28 and its two-hundred day moving average is C$19.60. The firm has a market capitalization of C$2.15 billion, a P/E ratio of 26.39, a price-to-earnings-growth ratio of 0.84 and a beta of 1.14.

Insider Activity at MAG Silver

In other MAG Silver news, Director George Nickolas Paspalas sold 50,024 shares of the company’s stock in a transaction dated 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. Company insiders own 0.96% of the company’s stock.

MAG Silver Company Profile

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.