Pan American Silver (NASDAQ:PAAS) Trading 9.5% Higher

Pan American Silver Corp. (NASDAQ:PAAS) (TSE:PAAS)’s share price traded up 9.5% during trading on Thursday . The stock traded as high as $16.75 and last traded at $16.64, 8,243,335 shares traded hands during trading. An increase of 239% from the average session volume of 2,431,637 shares. The stock had previously closed at $15.19.

Several equities analysts have recently commented on the stock. ValuEngine lowered shares of Pan American Silver from a “buy” rating to a “hold” rating in a research report on Thursday. Deutsche Bank upgraded shares of Pan American Silver from a “hold” rating to a “buy” rating and lowered their price target for the stock from $17.50 to $15.50 in a research report on Wednesday, April 10th. Zacks Investment Research upgraded shares of Pan American Silver from a “hold” rating to a “buy” rating and set a $15.00 price target for the company in a research report on Thursday, July 11th. Finally, BidaskClub upgraded shares of Pan American Silver from a “hold” rating to a “buy” rating in a research report on Friday, July 19th. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $16.68.

The company has a market capitalization of $3.18 billion, a price-to-earnings ratio of 41.28, a price-to-earnings-growth ratio of 12.25 and a beta of 0.14. The stock has a fifty day moving average price of $13.72. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.74 and a current ratio of 3.83.

Pan American Silver (NASDAQ:PAAS) (TSE:PAAS) last posted its quarterly earnings data on Wednesday, May 8th. The basic materials company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.03. The business had revenue of $232.60 million during the quarter, compared to the consensus estimate 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 company’s quarterly revenue was up 12.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.20 earnings per share. As a group, research analysts predict that Pan American Silver Corp. will post 0.31 earnings per share for the current year.

A number of hedge funds have recently bought and sold shares of PAAS. Frontier Capital Management Co. LLC acquired a new stake in Pan American Silver in the first quarter worth about $35,232,000. Norges Bank acquired a new stake in Pan American Silver in the fourth quarter worth about $25,283,000. Deutsche Bank AG lifted its holdings in Pan American Silver by 84.1% in the 4th quarter. Deutsche Bank AG now owns 2,421,835 shares of the basic materials company’s stock valued at $35,358,000 after acquiring an additional 1,106,093 shares during the last quarter. Ruffer LLP acquired a new stake in Pan American Silver in the 1st quarter valued at about $14,513,000. Finally, Intact Investment Management Inc. acquired a new stake in Pan American Silver in the 1st quarter valued at about $15,283,000. 54.26% of the stock is owned by institutional investors and hedge funds.

About Pan American Silver (NASDAQ:PAAS)

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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