BMO Capital Markets upgraded shares of Pan American Silver Corp. (NASDAQ:PAAS) (TSE:PAA) from a market perform rating to an outperform rating in a research report released on Wednesday. BMO Capital Markets currently has $28.00 price target on the stock, up from their previous price target of $24.00.

Several other research analysts have also issued reports on PAAS. Canaccord Genuity assumed coverage on Pan American Silver Corp. in a research report on Tuesday, October 25th. They set a hold rating and a $17.50 target price for the company. TD Securities restated a hold rating and set a $23.00 target price (up previously from $18.00) on shares of Pan American Silver Corp. in a research report on Tuesday, August 16th. Zacks Investment Research lowered Pan American Silver Corp. from a buy rating to a hold rating in a research report on Thursday, November 3rd. Deutsche Bank AG upgraded Pan American Silver Corp. from a hold rating to a buy rating and boosted their target price for the company from $14.50 to $20.00 in a research report on Monday, October 3rd. Finally, FBR & Co set a $21.00 target price on Pan American Silver Corp. and gave the company a hold rating in a research report on Thursday, August 18th. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has an average rating of Buy and an average target price of $20.13.

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

Pan American Silver Corp. (NASDAQ:PAAS) traded down 3.40% on Wednesday, reaching $16.20. The company had a trading volume of 2,038,735 shares. The company’s market capitalization is $2466.30 billion. The stock’s 50-day moving average is $16.24 and its 200-day moving average is $16.94. Pan American Silver Corp. has a 52 week low of $5.38 and a 52 week high of $21.59.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 6th. Shareholders of record on Friday, November 25th will be issued a dividend of $0.0125 per share. The ex-dividend date is Tuesday, November 22nd. This represents a $0.05 dividend on an annualized basis and a yield of 0.30%. Pan American Silver Corp.’s dividend payout ratio is currently -4.59%.

A number of hedge funds have recently bought and sold shares of PAAS. Global X Management Co. LLC raised its stake in Pan American Silver Corp. by 142.2% in the second quarter. Global X Management Co. LLC now owns 2,484,344 shares of the company’s stock worth $40,863,000 after buying an additional 1,458,597 shares in the last quarter. Morgan Stanley increased its position in shares of Pan American Silver Corp. by 106.5% in the third quarter. Morgan Stanley now owns 1,509,802 shares of the company’s stock worth $26,603,000 after buying an additional 778,620 shares during the last quarter. Prince Street Capital Management LLC acquired a new position in shares of Pan American Silver Corp. during the third quarter worth about $10,202,000. TD Asset Management Inc. increased its position in shares of Pan American Silver Corp. by 86.3% in the second quarter. TD Asset Management Inc. now owns 1,227,681 shares of the company’s stock worth $20,116,000 after buying an additional 568,600 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Pan American Silver Corp. by 6.6% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 8,581,190 shares of the company’s stock worth $150,828,000 after buying an additional 534,408 shares during the last quarter. Institutional investors own 48.46% of the company’s stock.

Pan American Silver Corp. Company Profile

Pan American Silver Corp. (Pan American) is engaged in the production and sale of silver, gold and base metals including copper, lead and zinc, as well as other related activities, including exploration, extraction, processing, refining and reclamation. The Company’s primary product (silver) is produced in Peru, Mexico, Argentina and Bolivia.

5 Day Chart for NASDAQ:PAAS

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