MAG Silver Stock (AMEX:MAG), Trade Ideas

MAG Silver

MAG Silver Corp is a Canadian mining company. It is focused on advancing high-grade, district-scale precious metals projects in the Americas. The Company's principal asset is in the Juanicipio Mine located in Zacatecas, Mexico, which achieved commercial production of around 4,000 tonnes per day. The company has also Interest in the Larder project. Also, MAG has an expanded exploration program targeting multiple prospective targets at both Juanicipio and the Deer Trail 100% earn-in project in Utah. The Juanicipio Mine recognizes revenue for silver, gold, lead, and zinc from concentrate sales.

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Source: Joe Reagor 04/30/2024

Cash flow from this Mexican operation should provide the next catalyst for this Canadian silver producer, noted a ROTH Capital Markets report.

Q1/24 Production from JV Mine in Line

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Gold prices rise to all-time highs, showing impressive resilience despite interest rate concerns.

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Source: Joe Reagor 03/29/2024

The figures in totality equate to a US$1.48 billion after-tax net present value at current spot prices, noted a ROTH MKM report.

Technical Report Confirms Strong Economics of Mine

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Source: <a href="https://www.streetwisereports.com/article/2024/04/30/q1-24-production-from-jv-mine-in-line.html?utm_medium=feed">Joe Reagor 04/30/2024</a>
Cash flow from this Mexican operation should provide the next catalyst for this Canadian silver producer, noted a ROTH Capital Markets report.
MAG Silver Corp. (AMEX:MAG)&nbsp;reported Q1/24 production results from its joint venture (JV) mine in Juanicipio that met the expectations of ROTH Capital Markets, analyst Joe Reagor reported in an April 24 company update.
&quot;Production rates are normalizing, and recovery rates are improving&quot; Reagor wrote.
<h2>Target, Rating the Same</h2>
ROTH maintained its US$14 per share target price on the Canadian silver producer, trading at about US$12.13 per share at the time of the report, noted Reagor. The return to target from here implies a 15% return for investors.
Reagor reported that ROTH recently made several changes to its model on MAG, but they did not affect the firm&#39;s existing target price. These revisions included updates of Q1/24 production and average metal prices and adjustments to ROTH&#39;s gold and silver price forecasts.
MAG, based in British Columbia, remains a Buy.
<h2>Numbers at a Glance</h2>
Reagor provided Juanicipio&#39;s Q1/24 production numbers for each of the various metals and compared them to ROTH&#39;s estimates.
Overall, during the year&#39;s first quarter, the JV produced 4,400,000 ounces (4.4 Moz) of silver versus ROTH&#39;s 3.9 Moz estimate and 9,927 ounces of gold compared to ROTH&#39;s expected 13,000 ounces. Production of lead was 8,700,000 pounds (8.7 Mlb), below ROTH&#39;s 9.1 Mlb forecast, and zinc came in at 14.7 Mlb, above ROTH&#39;s 14.6 Mlb projection.
These numbers did not impact ROTH&#39;s Q1/24 earnings per share estimate on MAG, Reagor pointed out, because the &quot;higher silver and zinc production offset lower gold and lead production.&quot;
Also of note, according to the analyst, mill recovery rates were better in Q1/24 than in Q4/23.
<h2>Potential Catalyst</h2>
Reagor purported that throughout the rest of 2024 investors will be watching the cash flow moving from Juanicipio to MAG Silver as it could result in a catalyst for the miner later this year.
&quot;If MAG can demonstrate consistent cash flow from the JV then the company could look to pay dividends or institute share buybacks&quot; wrote the analyst.
Important Disclosures:
<ol>
<li>Mag Silver Corp. is a billboard sponsor of Streetwise Reports and pays SWR a monthly sponsorship fee between US$4,000 and US$5,000.</li>
<li>Doresa Banning wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor.</li>
<li>This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports&#39; terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company.</li>
</ol>
Disclosures for Roth MKM, Mag Silver Corp., April 24, 2024
Regulation Analyst Certification (&quot;Reg AC&quot;): The research analyst primarily responsible for the content of this report certifies the following under Reg AC: I hereby certify that all views expressed in this report accurately reflect my personal views about the subject company or companies and its or their securities. I also certify that no part of my compensation was, is or will be, directly or indirectly, related to the specific recommendations or views expressed in this report.
Disclosures: ROTH makes a market in shares of MAG Silver Corp. and as such, buys and sells from customers on a principal basis. A Research Analyst and/or a member of the Analyst&#39;s household own(s) debt or equity securities of MAG Silver Corp.
ROTH Capital Partners, LLC expects to receive or intends to seek compensation for investment banking or other business relationships with the covered companies mentioned in this report in the next three months. The material, information and facts discussed in this report other than the information regarding ROTH Capital Partners, LLC and its affiliates, are from sources believed to be reliable, but are in no way guaranteed to be complete or accurate. This report should not be used as a complete analysis of the company, industry or security discussed in the report. Additional information is available upon request. This is not, however, an offer or solicitation of the securities discussed. Any opinions or estimates in this report are subject to change without notice. An investment in the stock may involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Additionally, an investment in the stock may involve a high degree of risk and may not be suitable for all investors. No part of this report may be reproduced in any form without the express written permission of ROTH. Copyright 2024. Member: FINRA/SIPC.

WIIM

MAG Silver shares are trading higher after HC Wainwright maintained a Buy rating on the stock and raised its price target from $16 to $17.

HC Wainwright &amp; Co. analyst Heiko Ihle maintains MAG Silver (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/MAG#AMEX">MAG</a>) with a Buy and raises the price target from $16 to $17.

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HC Wainwright & Co. Maintains Buy on MAG Silver, Raises Price Target to $17

MAG Silver Announces That Juanicipio Processed 325,684 Tonnes Of Ore In Q1

Gold closes out another week at all-time highs above $2,300 per ounce. Demand remains high after a March jobs report came in <a href="https://www.benzinga.com/etfs/specialty-etfs/24/04/38108835/us-labor-market-heats-up-in-march-payrolls-grow-by-303-000-highest-in-10-months-dampen-rate-c">hotter than predicted</a>.
The bullion exhibited an impressive resilience this week, diverging from its typical sensitivity to interest rate concerns. 
Gold marked its sixth week of gains in the past seven, rallying by 4% despite warnings from multiple Fed speakers that rate cuts might not materialize as swiftly as anticipated by the market.
Gold also showcased a notable 1.5% gain for the session, underscoring its impressive strength and resilience despite traditional macro headwinds for precious metals.
As the price of gold surges to unprecedented heights, mining stocks are experiencing a bullish wave not witnessed in quite some time.
The VanEck Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDX#NYSE">GDX</a>) has notched eight positive sessions out of the past nine, surging to peaks last seen in May 2023. 
Newmont Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>) — the world&#8217;s biggest gold miner and the GDX&#8217;s heavyweight — has surged over 10% this week, showcasing the most robust performance among S&amp;P 500 stocks and its best week in 13 months. 
Chart: Newmont Notches Top-Performing Week Since March 2023
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="495" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/05154058/image-12-1024x495.png" alt="" class="wp-image-280143" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/05154058/image-12-1024x495.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/05154058/image-12-300x145.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/05154058/image-12-768x372.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/05154058/image-12-1536x743.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/05154058/image-12.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
<h3 class="wp-block-heading">This Week&#8217;s Top-Performing S&amp;P 500 Stocks</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Company Name</td>
<td>Price Change % (5D)</td>
</tr>
<tr>
<td>Newmont Corporation</td>
<td>10.67%</td>
</tr>
<tr>
<td>Marathon Petroleum Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MPC#NYSE">MPC</a>)</td>
<td>8.99%</td>
</tr>
<tr>
<td>Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>)</td>
<td>8.31%</td>
</tr>
<tr>
<td>Valero Energy Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VLO#NYSE">VLO</a>)</td>
<td>7.70%</td>
</tr>
<tr>
<td>NRG Energy, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NRG#NYSE">NRG</a>)</td>
<td>7.70%</td>
</tr>
<tr>
<td>Occidental Petroleum Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OXY#NYSE">OXY</a>) </td>
<td>6.97%</td>
</tr>
<tr>
<td>Western Digital Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WDC#NYSE">WDC</a>)</td>
<td>6.84%</td>
</tr>
</tbody>
</table>
</figure>
<h3 class="wp-block-heading">This Week&#8217;s Top Performing Gold And Silver Mining Stocks </h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Company Name</td>
<td>Price Change % (5D)</td>
</tr>
<tr>
<td>First Majestic Silver Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AG#NYSE">AG</a>)</td>
<td>32.57%</td>
</tr>
<tr>
<td>Coeur Mining, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CDE#NYSE">CDE</a>)</td>
<td>29.18%</td>
</tr>
<tr>
<td>Fortuna Silver Mines Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FSM#NYSE">FSM</a>)</td>
<td>26.01%</td>
</tr>
<tr>
<td>Calibre Mining Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CXB#NYSE">CXB</a>)</td>
<td>18.56%</td>
</tr>
<tr>
<td>Pan American Silver Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PAAS#NYSE">PAAS</a>)</td>
<td>16.55%</td>
</tr>
<tr>
<td>MAG Silver Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MAG#NYSE">MAG</a>)</td>
<td>14.70%</td>
</tr>
<tr>
<td>Hecla Mining Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HL#NYSE">HL</a>)</td>
<td>14.66%</td>
</tr>
<tr>
<td>Emerald Resources NL (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EMR#NYSE">EMR</a>)</td>
<td>13.65%</td>
</tr>
<tr>
<td>K92 Mining Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KNT#NYSE">KNT</a>)</td>
<td>13.49%</td>
</tr>
<tr>
<td>Aya Gold &amp; Silver Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AYA#NYSE">AYA</a>)</td>
<td>12.95%</td>
</tr>
</tbody>
</table>
</figure>
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Source: <a href="https://www.streetwisereports.com/article/2024/03/29/technical-report-confirms-strong-economics-of-mine.html?utm_medium=feed">Joe Reagor 03/29/2024</a>
The figures in totality equate to a US$1.48 billion after-tax net present value at current spot prices, noted a ROTH MKM report.
MAG Silver Corp. (AMEX:MAG) released an updated technical report on Juanicipio, its joint venture project in Mexico with Fresnillo, which &quot;confirms robust economics&quot; reported Roth MKM analyst Joe Reagor in a March 27 research note. However, some differences between estimates in the report and in Roth&#39;s model led the investment bank to lower its target price on the Canadian silver producer to US$14 per share from US$15.50.
That said, Reagor wrote, &quot;We are maintaining our Buy rating as we continue to believe MAG is undervalued by the market. Additionally, we continue to believe the market significantly undervalues the potential for new discoveries on the project.&quot;
In comparison to the new target, noted the analyst, MAG&#39;s current price is $9.01 per share, and this implies a 55% return for investors.
<h2>Overall Strong Economics</h2>
Reagor highlighted that the newly outlined economics of Juanicipio overall are favorable.
&quot;The technical report showed a robust net present value of US$1.2 billion ($1.2B) after tax on base case prices, or US$1.48B at current spot prices&quot; he wrote.
The report noted an increase in the size of the existing resource at Juanicipio, and it included a maiden mineral reserve estimate, both positives, noted Reagor. These updates led to Roth adding four years to its mine life estimate for this project.
<h2>Reasons for Target Price Reduction</h2>
Where the technical report diverges from Roth&#39;s model is in its lower estimates for sustaining capital and for metal recoveries, Reagor pointed out. Accounting for these differences led to Roth lowering its target price on MAG.
Specifically, the report estimates sustaining capital over the mine life, of 13 years, to be US$413 million. As well as being higher than Roth&#39;s forecast, this figure represents a &quot;significant&quot; increase over the amount in the previous preliminary economic assessment.
&quot;We had estimated inflation would increase these costs but not to the extent in the technical report&quot; he wrote.
Regarding recoveries, the report&#39;s estimate for gold recovery is higher than Roth&#39;s forecast, but its projected recovery rates for silver, lead, and zinc are lower.
&quot;We note management described these estimates as conservative as they were based on initial startup data&quot; added Reagor.
Important Disclosures:
<ol>
<li>Mag Silver Corp. is a billboard sponsor of Streetwise Reports and pays SWR a monthly sponsorship fee between US$4,000 and US$5,000.</li>
<li>Doresa Banning wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor.</li>
<li>This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports&#39; terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company.</li>
</ol>
Disclosures for Roth MKM, Mag Silver Corp., March 27, 2024
Regulation Analyst Certification (&quot;Reg AC&quot;): The research analyst primarily responsible for the content of this report certifies the following under Reg AC: I hereby certify that all views expressed in this report accurately reflect my personal views about the subject company or companies and its or their securities. I also certify that no part of my compensation was, is or will be, directly or indirectly, related to the specific recommendations or views expressed in this report.
Disclosures: ROTH makes a market in shares of MAG Silver Corp. and as such, buys and sells from customers on a principal basis. A Research Analyst and/or a member of the Analyst&#39;s household own(s) debt or equity securities of MAG Silver Corp..
ROTH Capital Partners, LLC expects to receive or intends to seek compensation for investment banking or other business relationships with the covered companies mentioned in this report in the next three months. The material, information and Page 4 of 5 MAG SILVER CORP. Company Note - March 27, 2024 facts discussed in this report other than the information regarding ROTH Capital Partners, LLC and its affiliates, are from sources believed to be reliable, but are in no way guaranteed to be complete or accurate. This report should not be used as a complete analysis of the company, industry or security discussed in the report. Additional information is available upon request. This is not, however, an offer or solicitation of the securities discussed. Any opinions or estimates in this report are subject to change without notice. An investment in the stock may involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Additionally, an investment in the stock may involve a high degree of risk and may not be suitable for all investors. No part of this report may be reproduced in any form without the express written permission of ROTH. Copyright 2024. Member: FINRA/SIPC.

HC Wainwright &amp; Co. analyst Heiko Ihle maintains MAG Silver (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/MAG#AMEX">MAG</a>) with a Buy and lowers the price target from $19.5 to $16.

HC Wainwright & Co. Maintains Buy on MAG Silver, Lowers Price Target to $16

Scotiabank analyst Ovais Habib upgrades MAG Silver (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/MAG#AMEX">MAG</a>) from Sector Perform to Sector Outperform and announces $13.5 price target.

Upgrades

Scotiabank Upgrades MAG Silver to Sector Outperform, Announces $13.5 Price Target

Silver Stock's Q4 Earnings Beat Estimate

Stifel analyst Stephen Soock maintains MAG Silver (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MAG#NYSE">MAG</a>) with a Buy and lowers the price target from $20 to $19.

Stifel Maintains Buy on MAG Silver, Lowers Price Target to $19

HC Wainwright &amp; Co. analyst Heiko Ihle reiterates MAG Silver (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/MAG#AMEX">MAG</a>) with a Buy and lowers the price target from $19.5 to $18.5.

Reiteration

HC Wainwright & Co. Reiterates Buy on MAG Silver, Lowers Price Target to $18.5

TD Cowen analyst Craig Hutchison upgrades MAG Silver (TSX:<a class="ticker" href="https://www.benzinga.com/stock/MAG#TSX">MAG</a>) from Speculative Buy to Buy and lowers the price target from C$24 to C$21.

TSX:MAG

TD Cowen Upgrades MAG Silver to Buy, Lowers Price Target to C$21

HC Wainwright &amp; Co. analyst Heiko Ihle reiterates MAG Silver (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/MAG#AMEX">MAG</a>) with a Buy and maintains $19.5 price target.

HC Wainwright & Co. Reiterates Buy on MAG Silver, Maintains $19.5 Price Target

Earnings

MAG Silver Q3 EPS $0.09 Vs $0.08 YoY, Sales $125.05K Vs $49.72K YoY

HC Wainwright &amp; Co. analyst Heiko Ihle maintains MAG Silver (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/MAG#AMEX">MAG</a>) with a Buy and lowers the price target from $20.5 to $19.5.

HC Wainwright & Co. Maintains Buy on MAG Silver, Lowers Price Target to $19.5

HC Wainwright &amp; Co. analyst Heiko Ihle reiterates MAG Silver (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/MAG#AMEX">MAG</a>) with a Buy and maintains $20.5 price target.

HC Wainwright & Co. Reiterates Buy on MAG Silver, Maintains $20.5 Price Target

MAG Silver (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/MAG#AMEX">MAG</a>) reported quarterly earnings of $0.19 per share which beat the analyst consensus estimate of $0.16 by 18.75 percent. This is a 137.5 percent increase over earnings of $0.08 per share from the same period last year. The company reported $134.77 thousand in sales this quarter. This is a 648.72 percent increase over sales of $18.00 thousand the same period last year.

MAG Silver Q2 EPS $0.19 Beats $0.16 Estimate, Sales $134.77K Up From $18.00K YoY

Stifel analyst Stephen Soock maintains MAG Silver (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/MAG#AMEX">MAG</a>) with a Buy and lowers the price target from $26 to $22.75.

Stifel Maintains Buy on MAG Silver, Lowers Price Target to $22.75

Scotiabank analyst Ovais Habib reinstates MAG Silver (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/MAG#AMEX">MAG</a>) with a Sector Perform and announces $16 price target.

Initiation

Scotiabank Reinstates Sector Perform on MAG Silver, Announces $16 Price Target

HC Wainwright &amp; Co. analyst Heiko Ihle reiterates MAG Silver (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/MAG#AMEX">MAG</a>) with a Buy and maintains $16 price target.

HC Wainwright & Co. Reiterates Buy on MAG Silver, Maintains $16 Price Target

Analyst Heiko Ihle from H.C. Wainwright reiterated a Buy rating on MAG Silver (MAG – Research Report) and decreased the price target to $16.00 from...

Buy Rating Affirmed for MAG Silver Corp. on Strong Economic Potential and Increased Resources

The top ranked Silver Miner stocks - Roth MKM

SBFM, BPTH and INDO among pre-market losers

Raymond James analyst Brian MacArthur maintained a Buy rating on MAG Silver (MAG – Research Report) today and set a price target of C$20.50. The co...

Raymond James Sticks to Its Buy Rating for MAG Silver (MAG)

MAG Silver (TSE:MAG) has released an update. MAG Silver Corp. has reported strong first quarter results for 2024 from its Juanicipio project, with ...

MAG Silver Reports Strong Q1 Production

MAG Silver (TSE:MAG) has released an update. MAG Silver Corp. reports a strong first quarter in 2024 with Juanicipio mine's operational efficiency ...

MAG Silver Reports Robust Q1 2024 Performance

Analyst Heiko Ihle from H.C. Wainwright reiterated a Buy rating on MAG Silver (MAG – Research Report) and increased the price target to $17.00 from...

MAG Silver Buy Rating Affirmed Amid Strong Production and Favorable Market Conditions

MAG Silver raised to Buy at Canaccord after strong Q1 production

Companies in the Materials sector have received a lot of coverage today as analysts weigh in on First Quantum Minerals (FQVLF – Research Report) an...