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

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

MAG Silver Stock Performance

Shares of MAG stock traded down $0.73 during trading hours on Monday, reaching $11.94. 615,912 shares of the stock were exchanged, compared to its average volume of 769,221. The firm has a market capitalization of $1.23 billion, a price-to-earnings ratio of 22.63 and a beta of 1.12. MAG Silver has a 12-month low of $8.19 and a 12-month high of $14.30.

Analyst Upgrades and Downgrades

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