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

Pan American Silver (NYSE:PAAS) (TSE:PAAS) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

PAAS has been the subject of several other research reports. BMO Capital Markets reissued a “market perform” rating on shares of Pan American Silver in a report on Thursday. Jefferies Financial Group dropped their price objective on shares of Pan American Silver from $54.00 to $53.00 and set a “hold” rating on the stock in a report on Monday, July 6th. Bank of America cut their target price on shares of Pan American Silver from $77.00 to $69.00 and set a “buy” rating for the company in a research report on Thursday, July 9th. TD Securities upgraded shares of Pan American Silver from a “hold” rating to a “buy” rating and set a $72.00 target price for the company in a research note on Monday, May 11th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $75.00 target price on shares of Pan American Silver in a research note on Tuesday, April 28th. Eight investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $70.43.

Pan American Silver Stock Performance

NYSE:PAAS opened at $47.41 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.94 and a quick ratio of 2.23. The business has a fifty day simple moving average of $45.95 and a two-hundred day simple moving average of $53.10. Pan American Silver has a 1 year low of $30.59 and a 1 year high of $69.99. The company has a market capitalization of $19.77 billion, a P/E ratio of 14.32, a P/E/G ratio of 4.10 and a beta of 0.73.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last issued its earnings results on Wednesday, August 12th. The basic materials company reported $0.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.84 by ($0.11). Pan American Silver had a net margin of 32.04% and a return on equity of 20.01%. The firm had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter in the previous year, the firm earned $0.43 earnings per share. The business’s quarterly revenue was up 38.4% compared to the same quarter last year. On average, analysts expect that Pan American Silver will post 4.11 earnings per share for the current year.

Institutional Trading of Pan American Silver

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. NFJ Investment Group LLC bought a new position in Pan American Silver in the 2nd quarter worth about $25,000. Parallel Advisors LLC increased its position in shares of Pan American Silver by 151.8% during the third quarter. Parallel Advisors LLC now owns 642 shares of the basic materials company’s stock valued at $25,000 after buying an additional 387 shares during the period. Fifth Third Bancorp increased its position in shares of Pan American Silver by 1,336.1% during the first quarter. Fifth Third Bancorp now owns 517 shares of the basic materials company’s stock valued at $28,000 after buying an additional 481 shares during the period. Danske Bank A S purchased a new stake in shares of Pan American Silver in the second quarter worth about $30,000. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in shares of Pan American Silver in the fourth quarter worth about $34,000. 55.43% of the stock is currently owned by institutional investors.

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.