Pan American Silver (NASDAQ:PAAS) Lifted to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Pan American Silver (NASDAQ:PAAS) (TSE:PAAS) from a hold rating to a buy rating in a report issued on Thursday morning, Zacks.com reports. The brokerage currently has $15.00 target price on the basic materials company’s stock.

According to Zacks, “PAN AMER SILVER is a mining company focused exclusively on silver. Pan American Silver Corp. is founded upon a single mission, to become the best vehicle for equity investors wanting to gain real exposure to higher silver prices. To accomplish this they are striving to increase their low-cost silver production, to have the most successful silver exploration programs, to hold the largest silver reserves and resources, and to be the purest of the world’s large silver producers. “

Other equities analysts have also issued research reports about the stock. National Bank Financial reaffirmed a sector perform rating and set a C$23.00 target price on shares of Pan American Silver in a report on Tuesday, March 26th. ValuEngine lowered shares of Zuora from a buy rating to a hold rating in a report on Saturday, June 1st. Deutsche Bank reduced their target price on shares of Vornado Realty Trust from $80.00 to $73.00 and set a hold rating on the stock in a report on Wednesday, April 10th. Finally, BidaskClub lowered shares of Walgreens Boots Alliance from a sell rating to a strong sell rating in a report on Monday, June 24th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the stock. The company currently has an average rating of Hold and a consensus price target of $16.84.

Shares of NASDAQ:PAAS opened at $13.08 on Thursday. The business has a fifty day moving average of $11.97. The company has a market cap of $2.74 billion, a price-to-earnings ratio of 54.50, a price-to-earnings-growth ratio of 12.02 and a beta of 0.14. Pan American Silver has a one year low of $10.26 and a one year high of $17.62. The company has a quick ratio of 2.74, a current ratio of 3.83 and a debt-to-equity ratio of 0.15.

Pan American Silver (NASDAQ:PAAS) (TSE:PAAS) last issued its quarterly earnings results on Wednesday, May 8th. The basic materials company reported $0.05 EPS for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.03. The firm had revenue of $232.60 million for the quarter, compared to analyst estimates of $240.67 million. Pan American Silver had a negative net margin of 0.34% and a positive return on equity of 2.11%. The business’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.20 EPS. As a group, research analysts forecast that Pan American Silver will post 0.28 earnings per share for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in the stock. Exane Derivatives grew its holdings in shares of Pan American Silver by 9.7% during the 2nd quarter. Exane Derivatives now owns 23,528 shares of the basic materials company’s stock valued at $304,000 after purchasing an additional 2,081 shares during the last quarter. Ingalls & Snyder LLC purchased a new stake in Pan American Silver during the 2nd quarter valued at $3,762,000. Amundi Pioneer Asset Management Inc. boosted its position in Pan American Silver by 105.9% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 765,988 shares of the basic materials company’s stock valued at $10,150,000 after buying an additional 393,988 shares during the period. Campbell & CO Investment Adviser LLC purchased a new stake in Pan American Silver during the 1st quarter valued at $136,000. Finally, AGF Investments Inc. boosted its position in Pan American Silver by 138.5% during the 1st quarter. AGF Investments Inc. now owns 205,627 shares of the basic materials company’s stock valued at $2,720,000 after buying an additional 119,427 shares during the period. 73.73% of the stock is currently owned by institutional investors.

Pan American Silver Company Profile

Pan American Silver Corp., together with its subsidiaries, engages in the exploration, development, extraction, processing, refining, and reclamation of silver mines. The company owns and operates mines located in Mexico, Peru, Canada, Argentina, and Bolivia. It also produces and sells gold, zinc, lead, and copper.

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