Pan American Silver (NASDAQ:PAAS) (TSE:PAAS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday, Zacks.com reports. The firm presently has a $20.00 target price on the basic materials company’s stock. Zacks Investment Research‘s price target indicates a potential upside of 15.81% from the stock’s current price.
According to Zacks, “PAN AMER SILVER is a mining company focused exclusively on silver. Pan American Silver Corp. is founded upon a single mission, to become the best vehicle for equity investors wanting to gain real exposure to higher silver prices. To accomplish this they are striving to increase their low-cost silver production, to have the most successful silver exploration programs, to hold the largest silver reserves and resources, and to be the purest of the world’s large silver producers. “
Other research analysts have also issued reports about the stock. ValuEngine lowered shares of Pan American Silver from a “hold” rating to a “sell” rating in a research note on Monday. National Bank Financial raised shares of Pan American Silver from a “sector perform” rating to an “outperform” rating and set a $31.00 price objective on the stock in a report on Friday, August 30th. TheStreet raised shares of Pan American Silver from a “c” rating to a “b” rating in a report on Thursday, November 7th. B. Riley dropped their price objective on shares of Pan American Silver from $23.20 to $19.00 and set a “neutral” rating on the stock in a report on Monday, October 21st. Finally, TD Securities raised their price objective on shares of Pan American Silver from $20.00 to $22.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $20.53.
PAAS traded down $0.45 during trading on Tuesday, hitting $17.27. 102,156 shares of the stock traded hands, compared to its average volume of 2,927,229. The firm has a market capitalization of $3.68 billion, a P/E ratio of 44.28, a price-to-earnings-growth ratio of 13.28 and a beta of 0.03. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.76 and a quick ratio of 1.50. The firm has a 50-day moving average of $16.49 and a 200 day moving average of $14.70. Pan American Silver has a 12-month low of $10.26 and a 12-month high of $19.48.
Pan American Silver (NASDAQ:PAAS) (TSE:PAAS) last announced its quarterly earnings results on Wednesday, November 6th. The basic materials company reported $0.35 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.10 by $0.25. The business had revenue of $352.19 million during the quarter, compared to analysts’ expectations of $324.87 million. Pan American Silver had a net margin of 2.51% and a return on equity of 4.09%. The firm’s revenue for the quarter was up 87.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.03) EPS. As a group, equities analysts predict that Pan American Silver will post 0.33 EPS for the current fiscal year.
Large investors have recently modified their holdings of the business. Amundi Pioneer Asset Management Inc. grew its holdings in shares of Pan American Silver by 105.9% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 765,988 shares of the basic materials company’s stock worth $10,150,000 after purchasing an additional 393,988 shares during the last quarter. Ingalls & Snyder LLC bought a new position in Pan American Silver during the second quarter valued at about $3,762,000. Exane Derivatives increased its stake in Pan American Silver by 9.7% during the second quarter. Exane Derivatives now owns 23,528 shares of the basic materials company’s stock valued at $304,000 after acquiring an additional 2,081 shares during the period. NEXT Financial Group Inc bought a new position in Pan American Silver during the second quarter valued at about $194,000. Finally, Foundry Partners LLC increased its stake in Pan American Silver by 7.4% during the second quarter. Foundry Partners LLC now owns 764,429 shares of the basic materials company’s stock valued at $9,869,000 after acquiring an additional 52,913 shares during the period. 51.44% of the stock is currently owned by institutional investors and hedge funds.
Pan American Silver Company Profile
Pan American Silver Corp., together with its subsidiaries, engages in the exploration, development, extraction, processing, refining, and reclamation of silver mines. The company owns and operates mines located in Mexico, Peru, Canada, Argentina, and Bolivia. It also produces and sells gold, zinc, lead, and copper.
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