MAG Silver (NYSEAMERICAN:MAG – Get Free Report) posted its quarterly earnings results on Tuesday. The company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.02, Zacks reports.
MAG Silver Stock Performance
NYSEAMERICAN:MAG traded up $0.44 on Thursday, reaching $15.19. 1,353,477 shares of the stock traded hands, compared to its average volume of 729,503. The firm has a market cap of $1.57 billion, a P/E ratio of 20.82 and a beta of 1.12. MAG Silver has a 12 month low of $8.19 and a 12 month high of $18.27.
Wall Street Analyst Weigh In
Several equities analysts recently commented on the stock. StockNews.com raised shares of MAG Silver from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. HC Wainwright upped their target price on MAG Silver from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Wednesday. Scotiabank lifted their price target on MAG Silver from $14.50 to $15.50 and gave the company a “sector outperform” rating in a research report on Monday, August 19th. Roth Capital lowered MAG Silver from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 24th. Finally, Roth Mkm downgraded shares of MAG Silver from a “buy” rating to a “neutral” rating and raised their target price for the company from $17.00 to $17.50 in a research note on Thursday, October 24th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, MAG Silver presently has an average rating of “Hold” and an average target price 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.
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