TD Securities Forecasts Strong Price Appreciation for Pan American Silver (NYSE:PAAS) Stock

Pan American Silver (NYSE:PAAS) (TSE:PAAS) had its price objective hoisted by investment analysts at TD Securities from $25.00 to $28.00 in a note issued to investors on Thursday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the basic materials company’s stock. TD Securities’ price objective points to a potential upside of 14.55% from the stock’s previous close.

A number of other analysts have also weighed in on PAAS. Scotiabank increased their target price on Pan American Silver from $28.00 to $28.50 and gave the stock a “sector outperform” rating in a research note on Tuesday. StockNews.com lowered Pan American Silver from a “buy” rating to a “hold” rating in a research note on Sunday, December 1st. Finally, Royal Bank of Canada raised their price objective on Pan American Silver from $28.00 to $30.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 11th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $28.08.

Pan American Silver Stock Performance

Pan American Silver stock traded down $0.57 during mid-day trading on Thursday, reaching $24.44. 1,380,291 shares of the stock traded hands, compared to its average volume of 3,007,926. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.50 and a quick ratio of 0.96. The stock has a market capitalization of $8.85 billion, a PE ratio of 76.49 and a beta of 1.28. The business’s 50-day moving average is $22.54 and its 200-day moving average is $22.06. Pan American Silver has a 12-month low of $12.19 and a 12-month high of $26.05.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last issued its earnings results on Wednesday, February 19th. The basic materials company reported $0.35 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.35. Pan American Silver had a return on equity of 6.14% and a net margin of 3.98%. The company had revenue of $815.10 million for the quarter, compared to the consensus estimate of $805.20 million. As a group, sell-side analysts predict that Pan American Silver will post 1.26 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Creative Planning raised its stake in Pan American Silver by 10.2% during the third quarter. Creative Planning now owns 33,004 shares of the basic materials company’s stock worth $689,000 after purchasing an additional 3,051 shares during the period. Raymond James & Associates boosted its stake in Pan American Silver by 10.4% during the 3rd quarter. Raymond James & Associates now owns 249,300 shares of the basic materials company’s stock valued at $5,203,000 after purchasing an additional 23,543 shares in the last quarter. International Assets Investment Management LLC bought a new position in shares of Pan American Silver during the 3rd quarter valued at about $1,659,000. Forsta AP Fonden lifted its position in shares of Pan American Silver by 128.3% during the 3rd quarter. Forsta AP Fonden now owns 85,400 shares of the basic materials company’s stock valued at $1,785,000 after acquiring an additional 48,000 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale increased its stake in Pan American Silver by 13.0% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 215,636 shares of the basic materials company’s stock worth $4,520,000 after purchasing an additional 24,867 shares in the last quarter. 55.43% of the stock is owned by hedge funds and other institutional investors.

Pan American Silver Company Profile

Pan American Silver Corp. engages in the exploration, mine development, extraction, processing, refining, and reclamation of silver, gold, zinc, lead, and copper mines in Canada, Mexico, Peru, Bolivia, Argentina, Chile, and Brazil. The company was formerly known as Pan American Minerals Corp. and changed its name to Pan American Silver Corp.