Canaccord Genuity Group Trims Pan American Silver (NYSE:PAAS) Target Price to $22.00

Pan American Silver (NYSE:PAAS) (TSE:PAAS) had its price objective reduced by investment analysts at Canaccord Genuity Group from $23.50 to $22.00 in a note issued to investors on Tuesday, BayStreet.CA reports. The firm currently has a “buy” rating on the basic materials company’s stock. Canaccord Genuity Group’s price objective indicates a potential upside of 51.00% from the company’s current price.

A number of other equities analysts also recently issued reports on PAAS. TD Securities dropped their price target on Pan American Silver from $24.00 to $21.00 and set a “buy” rating on the stock in a research note on Thursday, November 9th. StockNews.com upgraded Pan American Silver from a “sell” rating to a “hold” rating in a research note on Monday. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Pan American Silver currently has a consensus rating of “Moderate Buy” and an average price target of $24.38.

Pan American Silver Price Performance

Shares of PAAS stock traded up $0.31 on Tuesday, reaching $14.57. The company’s stock had a trading volume of 1,604,947 shares, compared to its average volume of 3,849,799. The stock’s 50 day simple moving average is $14.76 and its 200-day simple moving average is $15.22. Pan American Silver has a 12-month low of $13.13 and a 12-month high of $19.84. The company has a quick ratio of 1.20, a current ratio of 2.29 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $5.31 billion, a P/E ratio of -15.67 and a beta of 1.27.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last released its earnings results on Wednesday, November 8th. The basic materials company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.06). Pan American Silver had a negative net margin of 11.19% and a positive return on equity of 0.76%. The firm had revenue of $616.30 million during the quarter, compared to analysts’ expectations of $661.22 million. During the same quarter in the previous year, the business earned ($0.01) EPS. The company’s revenue for the quarter was up 81.9% compared to the same quarter last year. As a group, equities analysts predict that Pan American Silver will post 0.3 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Pan American Silver

A number of institutional investors have recently bought and sold shares of the business. Gradient Investments LLC boosted its stake in shares of Pan American Silver by 182.5% during the second quarter. Gradient Investments LLC now owns 1,709 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 1,104 shares during the period. Optiver Holding B.V. boosted its position in Pan American Silver by 90.8% in the 3rd quarter. Optiver Holding B.V. now owns 1,706 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 812 shares in the last quarter. Captrust Financial Advisors grew its position in Pan American Silver by 1,220.0% during the second quarter. Captrust Financial Advisors now owns 1,320 shares of the basic materials company’s stock valued at $26,000 after buying an additional 1,220 shares during the period. Harbour Investments Inc. acquired a new stake in shares of Pan American Silver during the 2nd quarter valued at about $31,000. Finally, FNY Investment Advisers LLC increased its stake in shares of Pan American Silver by 104.4% in the 3rd quarter. FNY Investment Advisers LLC now owns 2,300 shares of the basic materials company’s stock valued at $33,000 after purchasing an additional 1,175 shares in the last quarter. Hedge funds and other institutional investors own 85.50% of the company’s stock.

Pan American Silver Company Profile

Pan American Silver Corp. engages in the exploration, mine development, extraction, processing, refining, and reclamation of silver, gold, zinc, lead, and copper mines in Canada, Mexico, Peru, Argentina, and Bolivia. It holds interests in the La Colorada, Dolores, Huaron, Morococha, Shahuindo, La Arena, Timmins West, Bell Creek, Manantial Espejo, San Vicente, Joaquin, and Cap-Oeste Sur Este mines.