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

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

MAG Silver Price Performance

Shares of NYSEAMERICAN MAG traded up $0.43 during trading on Thursday, reaching $15.18. 208,185 shares of the stock traded hands, compared to its average volume of 724,236. MAG Silver has a 52-week low of $8.19 and a 52-week high of $18.27. The stock has a market capitalization of $1.57 billion, a PE ratio of 20.82 and a beta of 1.12.

Analysts Set New Price Targets

A number of equities research analysts have commented on MAG shares. HC Wainwright raised their price objective on MAG Silver from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Wednesday. StockNews.com upgraded shares of MAG Silver from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Roth Capital lowered shares of MAG Silver from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 24th. Scotiabank lifted their price objective 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. Finally, Roth Mkm lowered shares of MAG Silver from a “buy” rating to a “neutral” rating and upped their target price for the stock from $17.00 to $17.50 in a report on Thursday, October 24th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, MAG Silver has an average rating of “Hold” and an average 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.