Wall Street Zen Downgrades Pan American Silver (NYSE:PAAS) to Buy

Pan American Silver (NYSE:PAAS) (TSE:PAAS) was downgraded by stock analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a note issued to investors on Saturday.

Several other research firms have also weighed in on PAAS. National Bankshares reiterated an “outperform” rating on shares of Pan American Silver in a research note on Friday, September 5th. CIBC boosted their price target on Pan American Silver from $50.00 to $62.00 and gave the company an “outperformer” rating in a research note on Friday, October 10th. Zacks Research cut Pan American Silver from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 19th. Weiss Ratings reissued a “buy (b)” rating on shares of Pan American Silver in a report on Tuesday, November 11th. Finally, Scotiabank boosted their target price on shares of Pan American Silver from $36.00 to $47.00 and gave the company an “outperform” rating in a research note on Thursday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $41.25.

Pan American Silver Trading Down 1.3%

Shares of PAAS stock opened at $38.53 on Friday. Pan American Silver has a 52-week low of $19.80 and a 52-week high of $42.57. The stock has a market cap of $16.26 billion, a price-to-earnings ratio of 26.57, a P/E/G ratio of 0.44 and a beta of 0.63. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.11 and a current ratio of 3.05. The firm has a fifty day moving average of $37.23 and a 200-day moving average of $31.56.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last posted its earnings results on Wednesday, November 12th. The basic materials company reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.01). Pan American Silver had a net margin of 16.80% and a return on equity of 11.49%. The business had revenue of $854.60 million during the quarter, compared to the consensus estimate of $867.76 million. During the same period in the previous year, the firm earned $0.32 EPS. The business’s revenue was up 19.3% compared to the same quarter last year. On average, equities research analysts forecast that Pan American Silver will post 1.26 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Parallel Advisors LLC increased its holdings in Pan American Silver by 151.8% in the third quarter. Parallel Advisors LLC now owns 642 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 387 shares during the last quarter. Rothschild Investment LLC bought a new position in Pan American Silver during the third quarter worth about $36,000. City State Bank grew its position in shares of Pan American Silver by 74.4% during the 3rd quarter. City State Bank now owns 1,020 shares of the basic materials company’s stock worth $40,000 after buying an additional 435 shares during the period. EverSource Wealth Advisors LLC grew its position in shares of Pan American Silver by 93.6% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,028 shares of the basic materials company’s stock worth $40,000 after buying an additional 497 shares during the period. Finally, Assetmark Inc. raised its position in shares of Pan American Silver by 3,111.4% in the 3rd quarter. Assetmark Inc. now owns 1,124 shares of the basic materials company’s stock valued at $44,000 after acquiring an additional 1,089 shares during the period. Institutional investors and hedge funds own 55.43% of the company’s stock.

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.