Royal Bank Of Canada Analysts Give Pan American Silver Corp. (NASDAQ:PAAS) a $23.00 Price Target

Pan American Silver Corp. (NASDAQ:PAAS) (TSE:PAAS) has been assigned a $23.00 target price by Royal Bank Of Canada in a research note issued to investors on Tuesday, October 17th. The firm currently has a “buy” rating on the basic materials company’s stock. Royal Bank Of Canada’s price target would suggest a potential upside of 42.15% from the company’s current price.

A number of other analysts have also issued reports on PAAS. BMO Capital Markets reiterated a “hold” rating and set a $17.50 price objective on shares of Pan American Silver Corp. in a research note on Thursday, June 29th. Zacks Investment Research lowered shares of Pan American Silver Corp. from a “hold” rating to a “sell” rating in a research note on Thursday, July 13th. TheStreet lowered shares of Pan American Silver Corp. from a “b-” rating to a “c+” rating in a research note on Friday, July 28th. BidaskClub lowered shares of Pan American Silver Corp. from a “hold” rating to a “sell” rating in a research note on Thursday, August 10th. Finally, Canaccord Genuity reiterated a “buy” rating and set a $22.00 price objective on shares of Pan American Silver Corp. in a research note on Thursday, September 7th. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $20.89.

Pan American Silver Corp. (NASDAQ PAAS) traded up 0.99% during mid-day trading on Tuesday, reaching $16.34. 473,452 shares of the company were exchanged. The company has a market capitalization of $2.50 billion, a price-to-earnings ratio of 20.90 and a beta of 0.14. The company has a 50 day moving average of $17.46 and a 200-day moving average of $17.22. Pan American Silver Corp. has a 1-year low of $13.80 and a 1-year high of $21.29.

Pan American Silver Corp. (NASDAQ:PAAS) (TSE:PAAS) last posted its quarterly earnings results on Wednesday, August 9th. The basic materials company reported $0.15 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.09 by $0.06. The firm had revenue of $201.30 million for the quarter, compared to analyst estimates of $184.96 million. Pan American Silver Corp. had a net margin of 14.62% and a return on equity of 6.16%. Pan American Silver Corp.’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.13 earnings per share. On average, equities research analysts forecast that Pan American Silver Corp. will post $0.56 EPS for the current year.

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A number of institutional investors have recently added to or reduced their stakes in the business. Raymond James Financial Services Advisors Inc. boosted its holdings in Pan American Silver Corp. by 1.6% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 42,371 shares of the basic materials company’s stock worth $713,000 after purchasing an additional 679 shares during the period. Advisor Group Inc. boosted its holdings in Pan American Silver Corp. by 3.9% in the second quarter. Advisor Group Inc. now owns 21,567 shares of the basic materials company’s stock worth $362,000 after purchasing an additional 800 shares during the period. National Asset Management Inc. boosted its holdings in Pan American Silver Corp. by 4.3% in the second quarter. National Asset Management Inc. now owns 20,450 shares of the basic materials company’s stock worth $344,000 after purchasing an additional 850 shares during the period. Legal & General Group Plc boosted its holdings in Pan American Silver Corp. by 5.7% in the second quarter. Legal & General Group Plc now owns 18,253 shares of the basic materials company’s stock worth $307,000 after purchasing an additional 990 shares during the period. Finally, Blair William & Co. IL boosted its holdings in Pan American Silver Corp. by 1.7% in the second quarter. Blair William & Co. IL now owns 70,578 shares of the basic materials company’s stock worth $1,187,000 after purchasing an additional 1,208 shares during the period. 53.96% of the stock is owned by hedge funds and other institutional investors.

About Pan American Silver Corp.

Pan American Silver Corp. is a silver production company. The Company is principally engaged in the operation and development of, and exploration for, silver producing properties. The Company’s segments include Peru, Mexico, Argentina and Bolivia. The Company also produces and sells gold, zinc, lead and copper.

Analyst Recommendations for Pan American Silver Corp. (NASDAQ:PAAS)

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