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

MAG Silver (NYSEAMERICAN:MAG) announced its earnings results on Tuesday. The company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.20 by $0.02, Zacks reports.

MAG Silver Trading Up 2.9 %

MAG opened at $15.19 on Friday. MAG Silver has a 1-year low of $8.19 and a 1-year high of $18.27. The firm has a market capitalization of $1.57 billion, a P/E ratio of 21.39 and a beta of 1.12.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on MAG. StockNews.com upgraded shares of MAG Silver from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Roth Capital downgraded MAG Silver from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 24th. HC Wainwright upped their price objective on MAG Silver from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Wednesday. Roth Mkm downgraded MAG Silver from a “buy” rating to a “neutral” rating and increased their price objective for the company from $17.00 to $17.50 in a report on Thursday, October 24th. Finally, Scotiabank boosted their target price on shares of MAG Silver from $14.50 to $15.50 and gave the stock a “sector outperform” rating in a report on Monday, August 19th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, MAG Silver presently has a consensus rating of “Hold” and a consensus 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.