Pan American Silver (NYSE:PAAS) Raised to Strong-Buy at Zacks Research

Pan American Silver (NYSE:PAAS) (TSE:PAAS) was upgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report issued on Tuesday,Zacks.com reports.

PAAS has been the subject of several other reports. Wall Street Zen lowered shares of Pan American Silver from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 15th. CIBC boosted their price objective on Pan American Silver from $50.00 to $62.00 and gave the company an “outperformer” rating in a report on Friday, October 10th. Weiss Ratings restated a “buy (b)” rating on shares of Pan American Silver in a research note on Monday. National Bankshares reiterated an “outperform” rating on shares of Pan American Silver in a research report on Friday, September 5th. Finally, Scotiabank upped their price target on Pan American Silver from $36.00 to $47.00 and gave the company an “outperform” rating in a research report on Thursday, October 23rd. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Pan American Silver presently has an average rating of “Buy” and a consensus price target of $41.25.

Pan American Silver Stock Performance

NYSE:PAAS opened at $42.57 on Tuesday. The firm’s fifty day simple moving average is $37.61 and its 200 day simple moving average is $32.29. The company has a current ratio of 3.05, a quick ratio of 2.11 and a debt-to-equity ratio of 0.15. Pan American Silver has a twelve month low of $19.80 and a twelve month high of $42.60. The firm has a market capitalization of $17.97 billion, a price-to-earnings ratio of 29.36, a PEG ratio of 0.44 and a beta of 0.63.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last released its quarterly 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). The company had revenue of $854.60 million during the quarter, compared to analysts’ expectations of $867.76 million. Pan American Silver had a return on equity of 11.49% and a net margin of 16.80%.The firm’s revenue was up 19.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.32 EPS. As a group, equities research analysts expect that Pan American Silver will post 1.26 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Pan American Silver

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

About Pan American Silver

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.