Source: Streetwise Reports 05/15/2024 As MAG Silver Corp. (AMEX:MAG) emerges as a producer with its Tier 1 Juanicipio mine in Mexico and output is beating estimates, analysts are paying attention and predicting good things for shareholders. The Juanicipio joint venture (JV), which the company owns 44% interest in, returned more than US$17.5 million in interest and loan principal repayments to MAG during the first quarter of 2024, the company said while announcing its highlights and financials for the quarter on Tuesday. "We view this as a significant development as this allowed the company to report an increase in its cash balance despite spending (US)$5.1 million on exploration at other projects and acquiring the Goldstake project for (US)$3.8 million" wrote Roth MKM analyst Joe Reagor in an updated research note. "We believe cash distributions are likely to increase in the quarters ahead, allowing MAG to consider paying a dividend by year-end 2024" continued Reagor, who reiterated his Buy rating on the stock and increased the price target from US$14 to US$14.50 per share. For the quarter, the company reported net income of US$14.9 million, or US$0.14 per share, driven by (equity accounted) income from Juanicipio of US$19.24 million and adjusted EBITDA of US$32.45 million. "On a 100% basis, the Juanicipio JV reported (US)$123.7 million in revenue, beating our (US)$115.8 million estimate" Reagor wrote. "The JV revenue beat was driven by higher payability on metal sales. As a result, we increased our long-term payability assumptions." The Catalyst: Steady Cash Flow The company reported strong operating cost performance at Juanicipio, with cash costs and all-in sustaining costs (AISC) of US$8.66 per ounce silver (Ag) and US$11.22 per ounce Ag Eq (silver equivalent), beating BMO Capital Markets analyst Kevin O'Halloran's expectations of US$11.25 per ounce Ag and US$13.07 per ounce Ag Eq. "We believe cash distributions are likely to increase in the quarters ahead, allowing MAG to consider paying a dividend by year-end 2024" continued Reagor. "We are encouraged by the accelerating pace of cash distributions from ...