Pan American Silver (NASDAQ:PAAS) (TSE:PAAS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Wednesday, December 20th. The firm currently has a $17.00 price objective on the basic materials company’s stock. Zacks Investment Research‘s price target points to a potential upside of 2.04% from the company’s previous close.
According to Zacks, “PAN AMER SILVER is a mining company focused exclusively on silver. Pan American Silver Corp. is founded upon a single mission, to become the best vehicle for equity investors wanting to gain real exposure to higher silver prices. To accomplish this they are striving to increase their low-cost silver production, to have the most successful silver exploration programs, to hold the largest silver reserves and resources, and to be the purest of the world’s large silver producers. “
A number of other brokerages also recently weighed in on PAAS. Royal Bank of Canada set a $22.00 target price on Pan American Silver and gave the company a “buy” rating in a report on Tuesday, December 5th. BMO Capital Markets set a $21.00 target price on Pan American Silver and gave the company a “buy” rating in a report on Thursday, November 23rd. CSFB raised their target price on Pan American Silver from $24.00 to $25.00 and gave the company an “outperform” rating in a report on Wednesday, November 22nd. Credit Suisse Group raised Pan American Silver from a “neutral” rating to an “outperform” rating in a report on Wednesday, November 22nd. Finally, Raymond James Financial raised Pan American Silver from a “market perform” rating to an “outperform” rating in a report on Tuesday, November 21st. One analyst has rated the stock with a sell rating, one has given a hold rating and thirteen have given a buy rating to the company. Pan American Silver currently has a consensus rating of “Buy” and a consensus price target of $20.92.
Pan American Silver (NASDAQ PAAS) traded up $0.48 during trading hours on Wednesday, reaching $16.66. The company’s stock had a trading volume of 1,525,500 shares, compared to its average volume of 1,340,000. The company has a market capitalization of $2,550.00, a price-to-earnings ratio of 27.31, a price-to-earnings-growth ratio of 6.94 and a beta of 0.09. Pan American Silver has a 12-month low of $13.99 and a 12-month high of $21.29.
Pan American Silver (NASDAQ:PAAS) (TSE:PAAS) last posted its quarterly earnings data on Wednesday, November 8th. The basic materials company reported $0.15 EPS for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.02. Pan American Silver had a return on equity of 5.12% and a net margin of 12.23%. The firm had revenue of $190.79 million for the quarter, compared to analyst estimates of $199.43 million. During the same quarter last year, the company earned $0.24 EPS. The company’s revenue was down 18.3% on a year-over-year basis. equities analysts anticipate that Pan American Silver will post 0.49 earnings per share for the current year.
Institutional investors and hedge funds have recently made changes to their positions in the business. Alliancebernstein L.P. acquired a new position in Pan American Silver during the 2nd quarter worth about $170,000. Quantbot Technologies LP acquired a new position in Pan American Silver during the 3rd quarter worth about $177,000. Virtu Financial LLC acquired a new position in Pan American Silver during the 3rd quarter worth about $178,000. Cambridge Investment Research Advisors Inc. acquired a new position in Pan American Silver during the 2nd quarter worth about $189,000. Finally, Tower Research Capital LLC TRC lifted its holdings in Pan American Silver by 1,091.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 8,661 shares of the basic materials company’s stock worth $189,000 after buying an additional 7,934 shares during the period. 53.89% of the stock is currently owned by hedge funds and other institutional investors.
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Pan American Silver Company Profile
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.
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