Pan American Silver (NYSE:PAAS) Upgraded to “Buy” at TD Securities

Pan American Silver (NYSE:PAAS) (TSE:PAAS) was upgraded by TD Securities from a “hold” rating to a “buy” rating in a report released on Monday, MarketBeat Ratings reports. The brokerage currently has a $72.00 target price on the basic materials company’s stock. TD Securities’ price target would indicate a potential upside of 21.66% from the company’s previous close.

A number of other brokerages have also recently issued reports on PAAS. Jefferies Financial Group lowered their target price on Pan American Silver from $58.00 to $54.00 and set a “hold” rating for the company in a report on Wednesday, January 21st. Zacks Research cut Pan American Silver from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 22nd. Wall Street Zen cut Pan American Silver from a “strong-buy” rating to a “buy” rating in a report on Sunday. Canadian Imperial Bank of Commerce set a $88.00 target price on Pan American Silver and gave the stock an “outperform” rating in a report on Wednesday, February 4th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $75.00 target price on shares of Pan American Silver in a report on Tuesday, April 28th. Seven research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $67.33.

Pan American Silver Trading Up 0.1%

Shares of PAAS opened at $59.18 on Monday. Pan American Silver has a 52-week low of $22.08 and a 52-week high of $69.99. The business’s fifty day moving average is $56.47 and its 200-day moving average is $51.68. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.11 and a current ratio of 2.84. The firm has a market cap of $24.94 billion, a price-to-earnings ratio of 19.03, a PEG ratio of 0.49 and a beta of 0.65.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last issued its quarterly earnings data on Tuesday, May 5th. The basic materials company reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.03. Pan American Silver had a return on equity of 19.50% and a net margin of 31.66%.The business had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.25 billion. During the same quarter in the previous year, the company posted $0.42 EPS. Pan American Silver’s quarterly revenue was up 49.3% compared to the same quarter last year. Equities analysts anticipate that Pan American Silver will post 4.45 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Van ECK Associates Corp lifted its holdings in Pan American Silver by 51.8% during the 3rd quarter. Van ECK Associates Corp now owns 45,142,060 shares of the basic materials company’s stock worth $1,748,355,000 after buying an additional 15,405,762 shares during the period. Vanguard Group Inc. lifted its holdings in Pan American Silver by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 17,465,779 shares of the basic materials company’s stock worth $905,513,000 after buying an additional 274,168 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Pan American Silver by 38.7% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,462,912 shares of the basic materials company’s stock valued at $560,149,000 after purchasing an additional 4,037,311 shares during the period. Invesco Ltd. lifted its stake in shares of Pan American Silver by 9.8% in the 3rd quarter. Invesco Ltd. now owns 9,898,397 shares of the basic materials company’s stock valued at $383,365,000 after purchasing an additional 882,135 shares during the period. Finally, FIL Ltd lifted its stake in shares of Pan American Silver by 154.7% in the 4th quarter. FIL Ltd now owns 7,307,777 shares of the basic materials company’s stock valued at $378,872,000 after purchasing an additional 4,438,478 shares during the period. 55.43% of the stock is owned by institutional investors and hedge funds.

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.