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Earnings Estimates Moving Higher for MAG Silver (MVG): Time to Buy?

Zacks Equity Research

MAG Silver Corp. (MVG), the company engaged in pre-development on the high grade Valdecañas Silver vein, could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.

These positive earnings estimate revisions suggest that analysts are becoming more optimistic on MVG’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames, suggesting that MAG Silver could be a solid choice for investors.

Current Quarter Estimates for MAG

In the past 30 days, 2 estimates has gone higher for MAG Silver while there is no downward estimates revision in the same time period. The trend has been pretty favorable too, with estimates narrowing from a loss of 14 cents a share 30 days ago, to a loss of 9 cents today, a move of 36%.

Current Year Estimates for MAG

Meanwhile, MAG Silver’s current year figures are also looking quite promising, with 1 estimate moved higher in the past month, compared to no downward revision. The consensus estimate trend has also seen a boost for this time frame, as estimates narrowing from a loss of 4 cents a share 30 days ago, to a loss of 3 cents today, an increase of 25%.

Bottom Line

The stock has also started to move higher lately, adding 14% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #2 (Buy) stock to profit in the near future.

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MAG SILVER CORP (MVG): Free Stock Analysis Report

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