Breaking: A Reversal for Magnetek Inc Is Not Near. The Stock Declines Again

Breaking: A Reversal for Magnetek Inc Is Not Near. The Stock Declines Again

The stock of Magnetek Inc (NASDAQ:MAG) is a huge mover today! The stock closed at $50.06 during the last session. It is down 66.77% since April 4, 2016 and is uptrending. It has outperformed by 65.68% the S&P500.
The move comes after 7 months negative chart setup for the $178.63M company. It was reported on Nov, 4 by Barchart.com. We have $44.05 PT which if reached, will make NASDAQ:MAG worth $21.44M less.

Analysts await Magnetek Inc (NASDAQ:MAG) to report earnings on November, 11. They expect $-0.02 EPS, up 33.33% or $0.01 from last year’s $-0.03 per share. After $-0.04 actual EPS reported by Magnetek Inc for the previous quarter, Wall Street now forecasts -50.00% EPS growth.

According to Zacks Investment Research, “MAG is focused on district scale projects located within the Mexican Silver Belt. Our mission is to become one of the premier companies in the Silver Mining Industry. MAG and its partner, Industrias Penoles, are delineating a significant new silver vein discovery on the Juanicipio Joint Venture in Zacatecas State, Mexico. MAG is based in Vancouver, British Columbia, Canada.”

More recent Magnetek Inc (NASDAQ:MAG) news were published by: Globenewswire.com which released: “Columbus McKinnon to Acquire Magnetek, Inc.” on July 27, 2015. Also Businesswire.com published the news titled: “Magnetek Awarded 2014 Premier Supplier of the Year by Joy Global” on June 18, 2015. Marketwatch.com‘s news article titled: “MAG Silver Corp.” with publication date: November 09, 2010 was also an interesting one.

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