Zacks Investment Research Lowers Pan American Silver (NASDAQ:PAAS) to Hold

Zacks Investment Research downgraded shares of Pan American Silver (NASDAQ:PAAS) (TSE:PAAS) from a buy rating to a hold rating in a research note issued to investors on Saturday morning, Zacks.com reports.

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. “

A number of other analysts have also issued reports on the stock. TheStreet raised shares of Pan American Silver from a c rating to a b rating in a research note on Thursday, November 7th. Royal Bank of Canada reissued a buy rating and set a $23.00 target price on shares of Pan American Silver in a research note on Sunday, February 9th. Bank of America lowered shares of Pan American Silver from a neutral rating to an underperform rating in a research note on Thursday, January 16th. Canaccord Genuity lowered shares of Pan American Silver from a buy rating to a hold rating and set a $34.47 target price for the company. in a research note on Thursday, February 20th. Finally, BidaskClub raised shares of Pan American Silver from a buy rating to a strong-buy rating in a research note on Thursday, November 21st. Two research analysts have rated the stock with a sell rating, four have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of Hold and an average price target of $26.65.

Shares of PAAS opened at $24.33 on Friday. The firm has a market capitalization of $5.29 billion, a P/E ratio of 34.27, a P/E/G ratio of 8.64 and a beta of 0.27. Pan American Silver has a 12-month low of $10.26 and a 12-month high of $26.20. The company has a current ratio of 2.90, a quick ratio of 1.63 and a debt-to-equity ratio of 0.12. The firm has a fifty day moving average price of $22.78 and a 200-day moving average price of $19.43.

Pan American Silver (NASDAQ:PAAS) (TSE:PAAS) last issued its earnings results on Wednesday, February 19th. The basic materials company reported $0.33 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.08. The firm had revenue of $404.38 million during the quarter, compared to analyst estimates of $407.10 million. Pan American Silver had a net margin of 11.14% and a return on equity of 6.60%. Analysts predict that Pan American Silver will post 0.73 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 12th. Investors of record on Monday, March 2nd will be issued a $0.05 dividend. This is an increase from Pan American Silver’s previous quarterly dividend of $0.04. This represents a $0.20 annualized dividend and a dividend yield of 0.82%. The ex-dividend date of this dividend is Friday, February 28th. Pan American Silver’s payout ratio is presently 17.95%.

Several hedge funds have recently added to or reduced their stakes in PAAS. Amundi Pioneer Asset Management Inc. raised 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 valued at $10,150,000 after acquiring an additional 393,988 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Pan American Silver by 10.0% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,409 shares of the basic materials company’s stock valued at $226,000 after acquiring an additional 1,309 shares in the last quarter. Flagship Harbor Advisors LLC raised its holdings in shares of Pan American Silver by 339.8% in the third quarter. Flagship Harbor Advisors LLC now owns 3,395 shares of the basic materials company’s stock valued at $53,000 after acquiring an additional 2,623 shares in the last quarter. CIBC Asset Management Inc raised its holdings in shares of Pan American Silver by 0.6% in the third quarter. CIBC Asset Management Inc now owns 169,017 shares of the basic materials company’s stock valued at $2,648,000 after acquiring an additional 1,086 shares in the last quarter. Finally, Commonwealth Equity Services LLC raised its holdings in shares of Pan American Silver by 3.3% in the third quarter. Commonwealth Equity Services LLC now owns 55,539 shares of the basic materials company’s stock valued at $870,000 after acquiring an additional 1,757 shares in the last quarter. Hedge funds and other institutional investors own 55.37% of the company’s stock.

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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Analyst Recommendations for Pan American Silver (NASDAQ:PAAS)

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