Pan American Silver (NYSE:PAAS) Upgraded at TD Cowen

Pan American Silver (NYSE:PAAS) (TSE:PAAS) was upgraded by investment analysts at TD Cowen from a “hold” rating to a “buy” rating in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a $72.00 price objective on the basic materials company’s stock, up from their previous price objective of $67.00. TD Cowen’s price objective indicates a potential upside of 15.06% from the company’s previous close.

Other equities analysts also recently issued research reports about the stock. Zacks Research downgraded shares of Pan American Silver from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 22nd. Canadian Imperial Bank of Commerce set a $88.00 price target on Pan American Silver and gave the company an “outperform” rating in a report on Wednesday, February 4th. Jefferies Financial Group cut their price objective on Pan American Silver from $58.00 to $54.00 and set a “hold” rating on the stock in a research report on Wednesday, January 21st. Royal Bank Of Canada restated an “outperform” rating and set a $75.00 price objective on shares of Pan American Silver in a research note on Tuesday, April 28th. Finally, Scotiabank upped their target price on Pan American Silver from $47.00 to $64.00 and gave the stock an “outperform” rating in a research report on Monday, January 26th. Eight equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $68.00.

Pan American Silver Trading Up 0.5%

Shares of NYSE:PAAS traded up $0.28 during trading on Tuesday, reaching $62.57. 721,797 shares of the stock were exchanged, compared to its average volume of 7,492,017. The firm’s 50-day moving average price is $56.26 and its 200 day moving average price is $52.00. The firm has a market cap of $26.37 billion, a price-to-earnings ratio of 20.11, a price-to-earnings-growth ratio of 0.49 and a beta of 0.65. Pan American Silver has a 12-month low of $22.08 and a 12-month high of $69.99. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.11 and a current ratio of 2.84.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last posted its quarterly earnings results on Tuesday, May 5th. The basic materials company reported $1.09 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.25 billion. During the same quarter last year, the firm posted $0.42 earnings per share. Pan American Silver’s revenue for the quarter was up 49.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Pan American Silver will post 4.45 earnings per share for the current fiscal year.

Institutional Trading of Pan American Silver

Large investors have recently modified their holdings of the business. Van ECK Associates Corp lifted its stake in shares of Pan American Silver by 51.8% in the third quarter. Van ECK Associates Corp now owns 45,142,060 shares of the basic materials company’s stock worth $1,748,355,000 after acquiring an additional 15,405,762 shares in the last quarter. Norges Bank acquired a new stake in Pan American Silver during the 4th quarter valued at approximately $303,611,000. First Eagle Investment Management LLC purchased a new stake in Pan American Silver during the 3rd quarter worth approximately $178,004,000. FIL Ltd raised its position 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 in the last quarter. Finally, Capital International Investors acquired a new position in shares of Pan American Silver in the 4th quarter valued at approximately $215,484,000. 55.43% of the stock is currently 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.