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

MAG Silver (NYSEAMERICAN:MAG) announced its quarterly earnings results on Friday. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.02, Zacks reports.

MAG Silver Trading Down 5.8 %

Shares of NYSEAMERICAN:MAG traded down $0.74 on Monday, reaching $11.93. The company had a trading volume of 615,902 shares, compared to its average volume of 769,221. MAG Silver has a 52-week low of $8.19 and a 52-week high of $14.30. The company has a market capitalization of $1.23 billion, a PE ratio of 22.63 and a beta of 1.12.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on MAG. Ventum Cap Mkts downgraded shares of MAG Silver from a “buy” rating to a “neutral” rating in a research report on Friday, May 3rd. Stifel Nicolaus increased their price objective on shares of MAG Silver from $20.25 to $20.50 and gave the stock a “buy” rating in a research note on Wednesday, May 15th. HC Wainwright increased their price objective on shares of MAG Silver from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Scotiabank increased their price objective on shares of MAG Silver from $13.50 to $14.50 and gave the stock a “sector outperform” rating in a research note on Thursday, May 23rd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $19.13.

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.