Pan American Silver (NASDAQ:PAAS) (TSE:PAAS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday, 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 brokerages have also recently issued reports on PAAS. Deutsche Bank Aktiengesellschaft raised shares of Pan American Silver from a “hold” rating to a “buy” rating and boosted their target price for the company from $34.00 to $38.00 in a research report on Thursday, October 1st. BidaskClub raised shares of Pan American Silver from a “sell” rating to a “hold” rating in a research report on Friday, December 18th. Finally, ValuEngine raised shares of Pan American Silver from a “sell” rating to a “hold” rating in a research report on Thursday, December 17th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company’s stock. Pan American Silver has a consensus rating of “Hold” and a consensus target price of $32.96.
Shares of Pan American Silver stock opened at $31.99 on Tuesday. The firm has a 50-day moving average of $32.58 and a 200-day moving average of $33.36. The stock has a market cap of $6.72 billion, a PE ratio of 199.95, a PEG ratio of 2.97 and a beta of 1.48. Pan American Silver has a 52-week low of $10.61 and a 52-week high of $40.11. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.83 and a current ratio of 3.04.
Pan American Silver (NASDAQ:PAAS) (TSE:PAAS) last announced its earnings results on Monday, November 9th. The basic materials company reported $0.34 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.38 by ($0.04). The business had revenue of $300.41 million during the quarter, compared to the consensus estimate of $399.39 million. Pan American Silver had a net margin of 2.31% and a return on equity of 8.00%. The company’s revenue was down 14.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.35 EPS. Equities research analysts predict that Pan American Silver will post 0.85 earnings per share for the current fiscal year.
Institutional investors and hedge funds have recently bought and sold shares of the stock. III Capital Management raised its stake in Pan American Silver by 1.5% during the third quarter. III Capital Management now owns 66,506 shares of the basic materials company’s stock worth $2,138,000 after acquiring an additional 1,000 shares in the last quarter. Virtu Financial LLC acquired a new position in Pan American Silver during the third quarter worth about $923,000. Sei Investments Co. acquired a new position in Pan American Silver during the third quarter worth about $2,251,000. Van ECK Associates Corp raised its stake in Pan American Silver by 3.7% during the third quarter. Van ECK Associates Corp now owns 22,398,857 shares of the basic materials company’s stock worth $720,123,000 after acquiring an additional 806,063 shares in the last quarter. Finally, Pekin Hardy Strauss Inc. raised its stake in Pan American Silver by 10.0% during the third quarter. Pekin Hardy Strauss Inc. now owns 34,017 shares of the basic materials company’s stock worth $1,094,000 after acquiring an additional 3,101 shares in the last quarter. 50.35% of the stock is 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 in Canada, Mexico, Peru, Argentina, and Bolivia. It also produces and sells gold, zinc, lead, and copper. The company holds interests in the La Colorada, Dolores, Huaron, Morococha, San Vicente, Manantial Espejo, Escobal, Shahuindo, La Arena, and Timmins mines.
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