MAG Silver Corp. MAG reported adjusted earnings per share of 18 cents for fourth-quarter 2024, which missed the Zacks Consensus Estimate of 24 cents. The figure marked an improvement of 29% from earnings of 14 cents in the year-ago quarter, attributed to higher metal volumes and realized metal prices.

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MAG Silver Corporation Price, Consensus and EPS Surprise

MAG Silver Corporation price-consensus-eps-surprise-chart | MAG Silver Corporation Quote

MAG’s Juanicipio Operations Updates

MAG Silver’s principal asset is the Juanicipio Project in Zacatecas, Mexico. The company has a 44% interest in Juanicipio and the remaining 56% is held by its operator, Fresnillo Plc FNLPF.

The Juanicipio plant maintained steady production, with 333,612 tons of ore processed in the fourth quarter of 2024. It was 3.8% lower than the 346,766 tons of mineralized material processed in the year-ago quarter. 

In line with the company’s plan, silver head grade averaged 417 grams per ton (g/t) in the fourth quarter. This led to a head grade of 468 g/t in 2024. Both metrics exceeded expectations, reflecting the high quality of the resource.

Silver production declined 5.5% year over year to 4.26 million ounces. Gold output was at 9,041 ounces, 14.6% lower than the year-ago quarter.

MAG Silver’s 2024 Performance

The company reported adjusted earnings per share of 75 cents for 2024, which surpassed the Zacks Consensus Estimate of 73 cents. The company registered earnings of 47 cents in 2023. 

MAG’s 2024 revenues grew 41.9% year over year to $627 million, missing the Zacks Consensus Estimate of $632 million. 
The net income was $77.7 million compared with $48.6 million in 2023.
Production costs were $154 million compared with $169 million a year ago. Adjusted EBITDA was $186 million, higher than $97.6 million in 2023.

MAG’s Cash Position

Juanicipio generated an operating cash flow of $357 million compared with $145 million a year ago. The free cash flow was $292 million compared with $61 million in 2023.

As of Dec. 31, 2024, MAG had a working capital of $160 million compared with $67 million in 2023. The company was debt-free as of Dec. 31, 2024.

MAG Silver’s Price Performance

Shares of the company have gained 81.9% in a year compared with the industry’s 71.5% growth.Zacks Investment Research

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MAG’s Zacks Rank

The company currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Story Continues

MAG Silver’s Peer Performances in Q4

Pan American Silver Corp. PAAS posted fourth-quarter 2024 adjusted earnings per share of 35 cents, in line with the Zacks Consensus Estimate. PAAS incurred a loss of 4 cents in the year-ago quarter.

PAAS’ revenues increased 21.6% year over year to $815 million in the quarter under review. The top line beat the Zacks Consensus Estimate of $805 million.

Avino Silver & Gold Mines Ltd. ASM reported earnings per share of 7 cents for fourth-quarter 2024, which surpassed the Zacks Consensus Estimate of 3 cents. The company posted earnings of 2 cents in the year-ago quarter.

ASM’s revenues surged 95% year over year to $24 million in the quarter under review. The top line beat the Zacks Consensus Estimate of $18 million. The upside was driven by higher production, and realized silver and gold prices.

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Pan American Silver Corp. (PAAS):Free Stock Analysis Report

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This article originally published on Zacks Investment Research (zacks.com).

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