MAG Silver (NYSEAMERICAN:MAG) Releases Quarterly Earnings Results, Misses Estimates By $0.07 EPS

MAG Silver (NYSEAMERICAN:MAG) posted its earnings results on Friday. The company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.07), MarketWatch Earnings reports.

MAG Silver Trading Down 2.0 %

NYSEAMERICAN MAG opened at $9.89 on Monday. The firm has a market capitalization of $1.02 billion, a price-to-earnings ratio of 30.91 and a beta of 1.11. MAG Silver has a 52-week low of $9.60 and a 52-week high of $17.02.

Analysts Set New Price Targets

A number of research analysts recently issued reports on MAG shares. HC Wainwright lowered their target price on shares of MAG Silver from $20.50 to $19.50 and set a “buy” rating on the stock in a research note on Thursday, October 26th. Scotiabank lowered their target price on shares of MAG Silver from $16.00 to $15.50 in a research note on Monday, August 14th. StockNews.com started coverage on shares of MAG Silver in a research note on Thursday, October 5th. They issued a “sell” rating on the stock. Finally, BMO Capital Markets started coverage on shares of MAG Silver in a research note on Thursday, September 14th. They issued an “outperform” rating and a $23.50 target price on the stock. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $23.09.

Institutional Trading of MAG Silver

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Advisor Group Holdings Inc. lifted its holdings in shares of MAG Silver by 73.4% during the 1st quarter. Advisor Group Holdings Inc. now owns 24,835 shares of the company’s stock worth $394,000 after acquiring an additional 10,513 shares during the period. Cetera Advisor Networks LLC bought a new position in shares of MAG Silver during the 1st quarter worth about $219,000. BlackRock Inc. lifted its holdings in shares of MAG Silver by 1.0% during the 1st quarter. BlackRock Inc. now owns 670,578 shares of the company’s stock worth $10,843,000 after acquiring an additional 6,578 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of MAG Silver by 115.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 307,218 shares of the company’s stock worth $4,968,000 after acquiring an additional 164,859 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in shares of MAG Silver by 7.9% during the 1st quarter. Vanguard Group Inc. now owns 54,836 shares of the company’s stock worth $886,000 after acquiring an additional 4,024 shares during the period. 42.80% of the stock is currently owned by institutional investors and hedge funds.

About MAG Silver

MAG Silver Corp. engages in the exploration and development of precious metal mining properties. The company explores for silver, gold, lead, copper, and zinc deposits. It primarily holds 44% interest in the Juanicipio project located in the Fresnillo District, Zacatecas State, Mexico. MAG Silver Corp.