MAG Silver Corp. (NYSEAMERICAN:MAG – Get Rating) – Research analysts at Raymond James dropped their FY2022 earnings per share (EPS) estimates for shares of MAG Silver in a report issued on Tuesday, September 13th. Raymond James analyst B. Macarthur now expects that the company will earn $0.29 per share for the year, down from their previous forecast of $0.44. Raymond James also issued estimates for MAG Silver's Q4 2022 earnings at $0.11 EPS.
Get MAG Silver alerts:Several other research analysts also recently weighed in on the stock. National Bank Financial dropped their target price on shares of MAG Silver from C$28.25 to C$23.50 in a report on Thursday, July 21st. Stifel Nicolaus dropped their target price on shares of MAG Silver from C$29.75 to C$28.75 in a report on Friday, August 19th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $25.21.
MAG Silver Stock Up 0.1 %
Shares of MAG Silver stock opened at $12.20 on Friday. The firm has a market capitalization of $1.20 billion, a P/E ratio of 152.52 and a beta of 1.10. MAG Silver has a fifty-two week low of $10.32 and a fifty-two week high of $21.73.MAG Silver (NYSEAMERICAN:MAG – Get Rating) last posted its quarterly earnings data on Monday, August 15th. The company reported $0.08 EPS for the quarter, topping the consensus estimate of $0.06 by $0.02.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in MAG. SeaCrest Wealth Management LLC bought a new position in shares of MAG Silver during the 2nd quarter valued at about $43,000. Geneos Wealth Management Inc. lifted its holdings in shares of MAG Silver by 89.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 3,385 shares of the company's stock valued at $54,000 after acquiring an additional 1,600 shares during the last quarter. Merit Financial Group LLC bought a new position in shares of MAG Silver in the 2nd quarter valued at about $123,000. Flow Traders U.S. LLC bought a new position in shares of MAG Silver in the 2nd quarter valued at about $138,000. Finally, Aigen Investment Management LP bought a new position in shares of MAG Silver in the 2nd quarter valued at about $149,000. Institutional investors own 48.55% of the company's stock.
MAG Silver Company Profile
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MAG Silver Corp. engages in the exploration and development of precious metal mining properties. The company explores for silver, gold, lead, and zinc deposits. It primarily holds 44% interest in the Juanicipio project located in the Fresnillo District, Zacatecas State, Mexico. The company is headquartered in Vancouver, Canada.
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