MAG Silver (NYSEAMERICAN:MAG) Posts Quarterly Earnings Results, Beats Estimates By $0.02 EPS

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

MAG Silver Trading Up 2.9 %

MAG Silver stock traded up $0.44 during trading hours on Thursday, reaching $15.19. 1,353,477 shares of the company’s stock were exchanged, compared to its average volume of 729,503. MAG Silver has a twelve month low of $8.19 and a twelve month high of $18.27. The company has a market cap of $1.57 billion, a P/E ratio of 20.82 and a beta of 1.12.

Wall Street Analyst Weigh In

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