MAG Silver (NYSEAMERICAN:MAG) Announces Quarterly Earnings Results

MAG Silver (NYSEAMERICAN:MAG) announced its quarterly earnings results on Tuesday. The company reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.02, Zacks reports.

MAG Silver Trading Down 1.9 %

MAG Silver stock traded down $0.29 during mid-day trading on Wednesday, reaching $14.93. 212,900 shares of the company were exchanged, compared to its average volume of 725,278. MAG Silver has a twelve month low of $8.19 and a twelve month high of $18.27. The stock has a market capitalization of $1.54 billion, a price-to-earnings ratio of 21.44 and a beta of 1.12.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on MAG shares. Roth Capital cut MAG Silver from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 24th. HC Wainwright raised their price target on shares of MAG Silver from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Wednesday. StockNews.com raised shares of MAG Silver from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Roth Mkm lowered MAG Silver from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $17.00 to $17.50 in a research note on Thursday, October 24th. Finally, Scotiabank boosted their target price on MAG Silver from $14.50 to $15.50 and gave the stock a “sector outperform” rating in a research note on Monday, August 19th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $18.38.

MAG Silver Company Profile

MAG Silver Corp. develops and explores for precious metal properties in Canada. It explores for silver, gold, lead, copper, and zinc deposits. The company's flagship property is the 44% owned Juanicipio property located in the Fresnillo District, Zacatecas State, Mexico. MAG Silver Corp. is headquartered in Vancouver, Canada.