Pan American Silver Corp. (NYSE:PAAS) Receives $70.43 Consensus Target Price from Brokerages

Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) has been assigned a consensus recommendation of “Moderate Buy” from the ten brokerages that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and eight have given a buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $70.4286.

PAAS has been the topic of several recent research reports. Bank of America decreased their price target on shares of Pan American Silver from $77.00 to $69.00 and set a “buy” rating on the stock in a research report on Thursday, July 9th. TD Cowen upgraded Pan American Silver from a “hold” rating to a “buy” rating and increased their price objective for the company from $67.00 to $72.00 in a research report on Tuesday, May 12th. Wall Street Zen lowered Pan American Silver from a “strong-buy” rating to a “buy” rating in a research note on Sunday, July 12th. Jefferies Financial Group decreased their target price on Pan American Silver from $54.00 to $53.00 and set a “hold” rating on the stock in a report on Monday, July 6th. Finally, TD Securities raised Pan American Silver from a “hold” rating to a “buy” rating and set a $72.00 target price on the stock in a research report on Monday, May 11th.

Hedge Funds Weigh In On Pan American Silver

A number of institutional investors have recently bought and sold shares of PAAS. Steadtrust LLC raised its holdings in Pan American Silver by 1.8% during the 2nd quarter. Steadtrust LLC now owns 133,150 shares of the basic materials company’s stock worth $5,964,000 after buying an additional 2,300 shares during the period. PensionDanmark Pensionsforsikringsaktieselskab lifted its stake in Pan American Silver by 339.4% during the second quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 13,785 shares of the basic materials company’s stock valued at $618,000 after buying an additional 10,648 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Pan American Silver by 2,085.8% in the second quarter. Assenagon Asset Management S.A. now owns 256,742 shares of the basic materials company’s stock worth $11,500,000 after buying an additional 244,996 shares during the period. VectorGlobal IAG Inc. acquired a new position in shares of Pan American Silver in the first quarter worth about $658,000. Finally, Western Wealth Management LLC purchased a new position in shares of Pan American Silver in the first quarter worth approximately $118,000. Hedge funds and other institutional investors own 55.43% of the company’s stock.

Pan American Silver Stock Performance

NYSE:PAAS opened at $43.76 on Thursday. The company has a 50-day moving average of $46.77 and a 200-day moving average of $53.70. The firm has a market cap of $18.25 billion, a price-to-earnings ratio of 14.07, a price-to-earnings-growth ratio of 3.70 and a beta of 0.73. The company has a current ratio of 2.84, a quick ratio of 2.11 and a debt-to-equity ratio of 0.11. Pan American Silver has a twelve month low of $27.30 and a twelve month high of $69.99.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last released its earnings results on Tuesday, May 5th. The basic materials company reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.03. Pan American Silver had a net margin of 31.66% and a return on equity of 19.50%. The business had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.25 billion. During the same period in the previous year, the firm earned $0.42 EPS. The business’s revenue for the quarter was up 49.3% on a year-over-year basis. Analysts forecast that Pan American Silver will post 4.15 earnings per share for the current fiscal year.

About Pan American Silver

Pan American Silver Corp. (NYSE: PAAS) is a Vancouver-based mining company and one of the world’s largest primary silver producers. The company’s core activities encompass the exploration, development, extraction and processing of silver, with significant by-product production of gold, zinc and lead. Pan American Silver maintains a vertically integrated operating model, covering the full mining value chain from resource discovery through to refined metal production.

With a geographic footprint concentrated across the Americas, Pan American Silver operates multiple mines in Mexico, Peru, Argentina and Bolivia, and is advancing several development and exploration projects in Chile and Ecuador.