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

MAG Silver (NYSEAMERICAN:MAG) released 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 Stock Performance

NYSEAMERICAN:MAG traded down $0.31 during trading hours on Wednesday, reaching $14.91. 181,744 shares of the company’s stock were exchanged, compared to its average volume of 725,185. The stock has a market capitalization of $1.54 billion, a price-to-earnings ratio of 21.44 and a beta of 1.12. MAG Silver has a 12 month low of $8.19 and a 12 month high of $18.27.

Analyst Ratings Changes

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