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

MAG Silver (NYSEAMERICAN:MAG) posted its quarterly earnings results on Friday. The company reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.02, Zacks reports.

MAG Silver Stock Down 5.8 %

Shares of MAG Silver stock traded down $0.73 during midday trading on Monday, hitting $11.94. The company had a trading volume of 615,912 shares, compared to its average volume of 769,221. The company has a market capitalization of $1.23 billion, a P/E ratio of 22.63 and a beta of 1.12. MAG Silver has a 52-week low of $8.19 and a 52-week high of $14.30.

Analysts Set New Price Targets

MAG has been the subject of several research analyst reports. Ventum Cap Mkts lowered MAG Silver from a “buy” rating to a “neutral” rating in a research note on Friday, May 3rd. Scotiabank lifted their price objective on MAG Silver from $13.50 to $14.50 and gave the company a “sector outperform” rating in a research note on Thursday, May 23rd. HC Wainwright raised their price target on MAG Silver from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Monday. Finally, Stifel Nicolaus lifted their price target on MAG Silver from $20.25 to $20.50 and gave the stock a “buy” rating in a research note on Wednesday, May 15th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $19.13.

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.