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

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

MAG Silver Stock Down 5.8 %

Shares of NYSEAMERICAN:MAG traded down $0.74 on Monday, hitting $11.93. The company’s stock had a trading volume of 615,402 shares, compared to its average volume of 769,217. The stock has a market cap of $1.23 billion, a P/E ratio of 22.63 and a beta of 1.12. MAG Silver has a 1 year low of $8.19 and a 1 year high of $14.30.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on MAG shares. Ventum Cap Mkts downgraded shares of MAG Silver from a “buy” rating to a “neutral” rating in a research report on Friday, May 3rd. HC Wainwright upped their price objective on shares of MAG Silver from $17.00 to $18.00 and gave the stock a “buy” rating in a report 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, Stifel Nicolaus raised their price target on shares of MAG Silver from $20.25 to $20.50 and gave the company a “buy” rating in a research report on Wednesday, May 15th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, MAG Silver currently has a consensus 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.