Roth Capital Comments on MAG Silver Corp.’s Q2 2024 Earnings (TSE:MAG)

MAG Silver Corp. (TSE:MAG) (NYSEAMERICAN:MAG) – Equities researchers at Roth Capital lifted their Q2 2024 earnings per share estimates for shares of MAG Silver in a note issued to investors on Wednesday, April 24th. Roth Capital analyst J. Reagor now expects that the company will post earnings per share of $0.26 for the quarter, up from their previous forecast of $0.23. The consensus estimate for MAG Silver’s current full-year earnings is $0.55 per share. Roth Capital also issued estimates for MAG Silver’s Q3 2024 earnings at $0.25 EPS, Q4 2024 earnings at $0.22 EPS and FY2024 earnings at $0.93 EPS.

MAG Silver (TSE:MAG) (NYSEAMERICAN:MAG) last released its quarterly earnings data on Tuesday, March 19th. The company reported C$0.19 earnings per share for the quarter, topping the consensus estimate of C$0.18 by C$0.01.

MAG has been the subject of several other research reports. National Bankshares dropped their price objective on MAG Silver from C$21.75 to C$21.50 in a report on Friday, April 19th. Stifel Nicolaus lowered their price objective on MAG Silver from C$20.50 to C$20.25 in a research note on Thursday. BMO Capital Markets lowered their price objective on MAG Silver from C$21.50 to C$21.00 in a research note on Thursday, January 25th. TD Securities lowered their price objective on MAG Silver from C$20.00 to C$18.00 and set a “buy” rating for the company in a research note on Wednesday, March 20th. Finally, Canaccord Genuity Group lifted their price objective on MAG Silver from C$20.00 to C$22.00 and gave the company a “buy” rating in a research note on Tuesday. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of C$19.81.

MAG Silver Trading Up 6.9 %

TSE MAG opened at C$17.70 on Friday. MAG Silver has a fifty-two week low of C$11.15 and a fifty-two week high of C$18.51. The company has a debt-to-equity ratio of 0.03, a quick ratio of 25.31 and a current ratio of 15.04. The stock has a 50 day simple moving average of C$13.87 and a two-hundred day simple moving average of C$13.87. The stock has a market cap of C$1.82 billion, a P/E ratio of 27.66, a price-to-earnings-growth ratio of 0.84 and a beta of 1.00.

Insiders Place Their Bets

In other MAG Silver news, Senior Officer Michael John Curlook sold 18,779 shares of MAG Silver stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of C$16.91, for a total value of C$317,552.89. In related news, Senior Officer Michael John Curlook sold 18,779 shares of MAG Silver stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of C$16.91, for a total value of C$317,552.89. Also, Senior Officer Peter Megaw sold 76,291 shares of MAG Silver stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of C$16.39, for a total value of C$1,250,172.99. In the last quarter, insiders sold 106,704 shares of company stock valued at $1,752,125. Corporate insiders own 0.47% 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.