Pan American Silver (PAAS) Upgraded to Hold by Zacks Investment Research

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Pan American Silver (NASDAQ:PAAS) (TSE:PAAS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday, Zacks.com reports.

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. “

Several other equities research analysts have also commented on PAAS. BidaskClub lowered Pan American Silver from a “sell” rating to a “strong sell” rating in a research note on Thursday, April 4th. Deutsche Bank upgraded Pan American Silver from a “hold” rating to a “buy” rating and cut their price objective for the stock from $17.50 to $15.50 in a research note on Wednesday, April 10th. Canaccord Genuity reiterated a “buy” rating and set a $21.00 price objective on shares of Pan American Silver in a research note on Friday, February 22nd. TheStreet lowered Pan American Silver from a “b-” rating to a “c” rating in a research note on Friday, February 22nd. Finally, ValuEngine lowered Pan American Silver from a “buy” rating to a “hold” rating in a research note on Thursday, January 10th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company. Pan American Silver presently has a consensus rating of “Hold” and a consensus target price of $16.97.

Shares of Pan American Silver stock opened at $13.26 on Friday. Pan American Silver has a twelve month low of $12.12 and a twelve month high of $18.75. The stock has a market capitalization of $2.04 billion, a P/E ratio of 34.00, a price-to-earnings-growth ratio of 10.11 and a beta of -0.13.

Pan American Silver (NASDAQ:PAAS) (TSE:PAAS) last posted its quarterly earnings data on Wednesday, February 20th. The basic materials company reported ($0.01) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by ($0.04). Pan American Silver had a return on equity of 3.80% and a net margin of 1.38%. The firm had revenue of $173.40 million for the quarter, compared to analysts’ expectations of $179.03 million. During the same quarter last year, the firm posted $0.12 earnings per share. Pan American Silver’s quarterly revenue was down 23.3% on a year-over-year basis. As a group, research analysts forecast that Pan American Silver will post 0.33 earnings per share for the current year.

Several hedge funds have recently bought and sold shares of the company. FMR LLC grew its position in shares of Pan American Silver by 6.1% in the fourth quarter. FMR LLC now owns 4,528,893 shares of the basic materials company’s stock valued at $66,122,000 after purchasing an additional 260,455 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Pan American Silver by 4.0% in the third quarter. Vanguard Group Inc. now owns 3,615,559 shares of the basic materials company’s stock valued at $53,366,000 after purchasing an additional 137,450 shares in the last quarter. Vanguard Group Inc grew its position in shares of Pan American Silver by 4.0% in the third quarter. Vanguard Group Inc now owns 3,615,559 shares of the basic materials company’s stock valued at $53,366,000 after purchasing an additional 137,450 shares in the last quarter. Investec Asset Management LTD grew its position in shares of Pan American Silver by 33.0% in the fourth quarter. Investec Asset Management LTD now owns 2,893,341 shares of the basic materials company’s stock valued at $42,243,000 after purchasing an additional 718,291 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in shares of Pan American Silver by 129.2% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,850,469 shares of the basic materials company’s stock valued at $41,616,000 after purchasing an additional 1,606,978 shares in the last quarter. Institutional investors and hedge funds own 52.62% of the company’s stock.

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.

Further Reading: Support Level

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