Pan American Silver (NYSE:PAAS) PT Raised to $24.00

Pan American Silver (NYSE:PAAS) (TSE:PAAS) had its price objective upped by equities research analysts at BMO Capital Markets from $22.00 to $24.00 in a research note issued on Tuesday, BayStreet.CA reports. BMO Capital Markets’ target price indicates a potential upside of 12.52% from the stock’s previous close.

Several other research analysts have also commented on PAAS. StockNews.com upgraded Pan American Silver from a “sell” rating to a “hold” rating in a report on Saturday, May 11th. Jefferies Financial Group lifted their price target on Pan American Silver from $14.00 to $17.00 and gave the stock a “hold” rating in a report on Monday, April 22nd. CIBC reduced their price target on Pan American Silver from $28.00 to $27.50 and set an “outperform” rating on the stock in a report on Wednesday, February 7th. TD Securities reduced their price objective on shares of Pan American Silver from $18.50 to $17.50 and set a “buy” rating on the stock in a report on Friday, February 23rd. Finally, Scotiabank boosted their price objective on shares of Pan American Silver from $19.50 to $20.00 and gave the company a “sector outperform” rating in a report on Monday, April 8th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $21.75.

Pan American Silver Price Performance

Pan American Silver stock opened at $21.33 on Tuesday. The company’s fifty day moving average price is $17.93 and its 200 day moving average price is $15.63. Pan American Silver has a 1 year low of $12.16 and a 1 year high of $22.68. The stock has a market capitalization of $7.74 billion, a P/E ratio of -46.37, a P/E/G ratio of 2.85 and a beta of 1.36. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.92 and a current ratio of 2.11.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last announced its earnings results on Wednesday, May 8th. The basic materials company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.07. Pan American Silver had a negative net margin of 6.68% and a positive return on equity of 0.13%. The company had revenue of $601.40 million for the quarter, compared to analysts’ expectations of $592.58 million. During the same quarter in the previous year, the company posted $0.10 EPS. The firm’s quarterly revenue was up 54.1% on a year-over-year basis. As a group, equities research analysts anticipate that Pan American Silver will post 0.41 earnings per share for the current fiscal year.

Institutional Trading of Pan American Silver

Several hedge funds have recently made changes to their positions in PAAS. Van ECK Associates Corp lifted its position in shares of Pan American Silver by 11.8% during the fourth quarter. Van ECK Associates Corp now owns 45,833,375 shares of the basic materials company’s stock worth $748,460,000 after purchasing an additional 4,842,547 shares in the last quarter. Norges Bank acquired a new stake in shares of Pan American Silver during the fourth quarter worth about $63,066,000. Tidal Investments LLC lifted its position in shares of Pan American Silver by 15,618.3% during the first quarter. Tidal Investments LLC now owns 3,803,507 shares of the basic materials company’s stock worth $57,340,000 after purchasing an additional 3,779,309 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Pan American Silver by 71.3% during the fourth quarter. The Manufacturers Life Insurance Company now owns 1,889,808 shares of the basic materials company’s stock worth $30,899,000 after purchasing an additional 786,525 shares in the last quarter. Finally, American Century Companies Inc. lifted its position in shares of Pan American Silver by 104.5% during the third quarter. American Century Companies Inc. now owns 1,207,185 shares of the basic materials company’s stock worth $17,479,000 after purchasing an additional 616,804 shares in the last quarter. Institutional investors and hedge funds own 55.43% of the company’s stock.

About Pan American Silver

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, Bolivia, Argentina, Chile, and Brazil. The company was formerly known as Pan American Minerals Corp. and changed its name to Pan American Silver Corp.