Pan American Silver (NYSE:PAAS) Stock Rating Upgraded by Zacks Research

Pan American Silver (NYSE:PAAS) (TSE:PAAS) was upgraded by analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report issued on Tuesday,Zacks.com reports.

Other equities analysts have also issued reports about the company. TD Securities raised Pan American Silver from a “hold” rating to a “buy” rating and set a $72.00 price target on the stock in a research report on Monday, May 11th. Royal Bank Of Canada restated an “outperform” rating and issued a $75.00 price target on shares of Pan American Silver in a report on Tuesday, April 28th. Jefferies Financial Group lowered their price objective on shares of Pan American Silver from $54.00 to $53.00 and set a “hold” rating for the company in a research report on Monday, July 6th. Bank of America dropped their price objective on shares of Pan American Silver from $77.00 to $69.00 and set a “buy” rating on the stock in a research note on Thursday, July 9th. Finally, BMO Capital Markets reissued a “market perform” rating on shares of Pan American Silver in a research report on Thursday, August 13th. Eight investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $70.43.

Pan American Silver Trading Up 8.0%

NYSE:PAAS opened at $50.33 on Tuesday. The business’s 50-day moving average is $46.11 and its two-hundred day moving average is $52.76. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.94 and a quick ratio of 2.23. Pan American Silver has a 12 month low of $30.68 and a 12 month high of $69.99. The firm has a market capitalization of $20.99 billion, a PE ratio of 15.21, a price-to-earnings-growth ratio of 4.26 and a beta of 0.73.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last issued its earnings results on Wednesday, August 12th. The basic materials company reported $0.73 earnings per share for the quarter, missing the consensus estimate of $0.84 by ($0.11). Pan American Silver had a return on equity of 20.01% and a net margin of 32.04%.The company had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same period in the previous year, the company earned $0.43 EPS. Pan American Silver’s quarterly revenue was up 38.4% on a year-over-year basis. Research analysts predict that Pan American Silver will post 4.09 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Pan American Silver

Hedge funds and other institutional investors have recently bought and sold shares of the business. NFJ Investment Group LLC purchased a new position in shares of Pan American Silver during the 2nd quarter valued at approximately $25,000. Parallel Advisors LLC increased its stake in shares of Pan American Silver by 151.8% in the third quarter. Parallel Advisors LLC now owns 642 shares of the basic materials company’s stock worth $25,000 after buying an additional 387 shares during the last quarter. Fifth Third Bancorp increased its stake in shares of Pan American Silver by 1,336.1% in the first quarter. Fifth Third Bancorp now owns 517 shares of the basic materials company’s stock worth $28,000 after buying an additional 481 shares during the last quarter. Danske Bank A S acquired a new stake in Pan American Silver in the second quarter valued at $30,000. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in Pan American Silver in the fourth quarter valued at $34,000. 55.43% of the stock is currently owned by hedge funds and other institutional investors.

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.