MAG Silver (NYSEAMERICAN:MAG) Issues Quarterly Earnings Results

MAG Silver (NYSEAMERICAN:MAG) posted its quarterly earnings results on Tuesday. The company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.20 by $0.02, Zacks reports.

MAG Silver Trading Down 2.0 %

Shares of MAG stock traded down $0.31 on Wednesday, hitting $14.91. The company’s stock had a trading volume of 181,744 shares, compared to its average volume of 725,185. MAG Silver has a fifty-two week low of $8.19 and a fifty-two week high of $18.27. The firm has a market cap of $1.54 billion, a PE ratio of 21.44 and a beta of 1.12.

Analyst Upgrades and Downgrades

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