MAG Silver (NYSEAMERICAN:MAG) Releases Earnings Results, Misses Expectations By $0.03 EPS

MAG Silver (NYSEAMERICAN:MAGGet Rating) released its earnings results on Monday. The company reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.03), reports.

MAG Silver Trading Down 1.4 %

NYSEAMERICAN MAG traded down $0.22 on Thursday, hitting $15.33. 312,776 shares of the company’s stock were exchanged, compared to its average volume of 504,458. MAG Silver has a fifty-two week low of $10.32 and a fifty-two week high of $20.05. The stock has a market capitalization of $1.52 billion, a price-to-earnings ratio of 194.40 and a beta of 1.10.

Hedge Funds Weigh In On MAG Silver

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Dubuque Bank & Trust Co. boosted its stake in shares of MAG Silver by 25.0% during the 1st quarter. Dubuque Bank & Trust Co. now owns 20,000 shares of the company’s stock worth $323,000 after acquiring an additional 4,000 shares in the last quarter. Advisor Group Holdings Inc. boosted its stake in shares of MAG Silver by 73.4% during the 1st quarter. Advisor Group Holdings Inc. now owns 24,835 shares of the company’s stock worth $394,000 after acquiring an additional 10,513 shares in the last quarter. National Bank of Canada FI boosted its stake in shares of MAG Silver by 20.8% during the 1st quarter. National Bank of Canada FI now owns 63,901 shares of the company’s stock worth $1,032,000 after acquiring an additional 10,995 shares in the last quarter. CIBC Asset Management Inc boosted its stake in shares of MAG Silver by 4.6% during the 1st quarter. CIBC Asset Management Inc now owns 77,181 shares of the company’s stock worth $1,251,000 after acquiring an additional 3,416 shares in the last quarter. Finally, Banque Cantonale Vaudoise boosted its stake in shares of MAG Silver by 4.6% during the 1st quarter. Banque Cantonale Vaudoise now owns 42,192 shares of the company’s stock worth $683,000 after acquiring an additional 1,841 shares in the last quarter. Institutional investors and hedge funds own 48.55% of the company’s stock.

Wall Street Analysts Forecast Growth

MAG has been the subject of a number of recent research reports. TD Securities lifted their target price on MAG Silver from C$24.00 to C$28.00 in a report on Tuesday. Stifel Nicolaus decreased their price target on MAG Silver from C$28.75 to C$28.25 in a report on Tuesday. Finally, National Bank Financial lifted their price target on MAG Silver from C$23.50 to C$24.50 in a report on Thursday, October 13th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $25.29.

About MAG Silver

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MAG Silver Corp. engages in the exploration and development of precious metal mining properties. The company explores for silver, gold, lead, and zinc deposits. It primarily holds 44% interest in the Juanicipio project located in the Fresnillo District, Zacatecas State, Mexico. The company is headquartered in Vancouver, Canada.

Further Reading

Earnings History for MAG Silver (NYSEAMERICAN:MAG)

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