MAG Silver (NYSEAMERICAN:MAG) Announces Quarterly Earnings Results

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

MAG Silver Stock Performance

MAG traded down $0.30 during trading on Wednesday, reaching $14.92. 221,718 shares of the company’s stock were exchanged, compared to its average volume of 725,323. 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 capitalization of $1.54 billion, a PE ratio of 21.44 and a beta of 1.12.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Roth Capital downgraded MAG Silver from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 24th. Roth Mkm downgraded MAG Silver from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $17.00 to $17.50 in a research report on Thursday, October 24th. HC Wainwright lifted their target price on MAG Silver from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Wednesday. StockNews.com raised MAG Silver from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Finally, Scotiabank lifted their target price on MAG Silver from $14.50 to $15.50 and gave the stock a “sector outperform” rating in a research 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. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $18.38.

About MAG Silver

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.