08:28 AM EST, 11/12/2024 (MT Newswires) -- MAG Silver ( MAG ) edged 0.7% higher in pre-market New York trading after the company on Tuesday said its third-quarter more than doubled on higher silver prices and sales.

The company, which owns a 44% interest in the Juanicipio Mine in Mexico, said it earned US$22.29 million, or US$0.22 per share, in the period, up from US$8.86 million, or US$0.09, in the year-prior quarter.

Revenue from its stake in Juanicipio rose 87% to US$25.55 million from US$13.69 million.

The company said sales from the Mexican mine rose 8.7% to 6.2-million silver-equivalent ounces (SEO) in the quarter, while its average price per SEO rose 28% to US$30.16.

MAG said it expects a strong performance from Juanicipio in the fourth quarter, with silver grades at the top end of its 2024 guidance of 420 to 460 grams per tonne of ore.

The company's shares were last seen up US$0.11 to US$15.30 in pre-market trading. They closed down $1.16 to $21.18 Monday on the Toronto Stock Exchange.