Scotiabank Increases Pan American Silver (NYSE:PAAS) Price Target to $23.00

Pan American Silver (NYSE:PAAS) (TSE:PAAS) had its target price raised by Scotiabank from $20.00 to $23.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “sector outperform” rating on the basic materials company’s stock. Scotiabank’s target price would indicate a potential upside of 9.37% from the stock’s previous close.

A number of other equities research analysts have also commented on PAAS. BMO Capital Markets upped their price target on Pan American Silver from $22.00 to $24.00 in a research report on Tuesday. Jefferies Financial Group lifted their target price on shares of Pan American Silver from $14.00 to $17.00 and gave the stock a “hold” rating in a research report on Monday, April 22nd. TD Securities reduced their price target on shares of Pan American Silver from $18.50 to $17.50 and set a “buy” rating for the company in a research report on Friday, February 23rd. StockNews.com raised Pan American Silver from a “sell” rating to a “hold” rating in a report on Saturday, May 11th. Finally, CIBC lifted their target price on shares of Pan American Silver from $27.50 to $30.00 and gave the stock an “outperform” rating in a research note on Wednesday. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Pan American Silver currently has an average rating of “Moderate Buy” and a consensus target price of $22.25.

Pan American Silver Stock Performance

Shares of NYSE:PAAS opened at $21.03 on Thursday. Pan American Silver has a 1 year low of $12.16 and a 1 year high of $22.68. The company’s 50 day simple moving average is $18.20 and its 200 day simple moving average is $15.71. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.11 and a quick ratio of 0.92. The stock has a market capitalization of $7.63 billion, a price-to-earnings ratio of -45.72, a price-to-earnings-growth ratio of 2.71 and a beta of 1.36.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last announced its quarterly 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. The company had revenue of $601.40 million during the quarter, compared to the consensus estimate of $592.58 million. Pan American Silver had a negative net margin of 6.68% and a positive return on equity of 0.13%. The company’s revenue for the quarter was up 54.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.10 earnings per share. As a group, research analysts predict that Pan American Silver will post 0.41 EPS for the current fiscal year.

Institutional Trading of Pan American Silver

Several institutional investors and hedge funds have recently made changes to their positions in PAAS. Optiver Holding B.V. lifted its stake in Pan American Silver by 90.8% in the third 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 during the last quarter. Perritt Capital Management Inc. boosted its stake in Pan American Silver by 76.9% during the first quarter. Perritt Capital Management Inc. now owns 2,300 shares of the basic materials company’s stock worth $35,000 after acquiring an additional 1,000 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of Pan American Silver in the 3rd quarter worth approximately $46,000. CVA Family Office LLC bought a new position in shares of Pan American Silver during the fourth quarter valued at $46,000. Finally, Parkside Financial Bank & Trust raised its holdings in Pan American Silver by 455.9% in the fourth quarter. Parkside Financial Bank & Trust now owns 3,658 shares of the basic materials company’s stock worth $60,000 after buying an additional 3,000 shares during the last quarter. Hedge funds and other institutional investors 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.