Pan American Silver (NASDAQ:PAAS) Raised to “Buy” at Zacks Investment Research

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Pan American Silver (NASDAQ:PAAS) (TSE:PAAS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday, Zacks.com reports. The firm presently has a $20.00 price target on the basic materials company’s stock. Zacks Investment Research‘s price objective points to a potential upside of 8.64% from the company’s current price.

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 company. TheStreet upgraded Pan American Silver from a “c” rating to a “b” rating in a research note on Thursday, November 7th. BidaskClub lowered Pan American Silver from a “buy” rating to a “hold” rating in a research note on Friday, November 8th. National Bank Financial upgraded Pan American Silver from a “sector perform” rating to an “outperform” rating and set a $31.00 price target for the company in a research note on Friday, August 30th. ValuEngine lowered Pan American Silver from a “hold” rating to a “sell” rating in a research note on Monday, November 11th. Finally, B. Riley cut their price target on Pan American Silver from $23.20 to $19.00 and set a “neutral” rating for the company in a research note on Monday, October 21st. Two analysts have rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $20.53.

Shares of Pan American Silver stock traded up $0.04 during trading on Tuesday, reaching $18.41. The company’s stock had a trading volume of 2,255,700 shares, compared to its average volume of 2,899,370. The company has a quick ratio of 1.50, a current ratio of 2.76 and a debt-to-equity ratio of 0.14. Pan American Silver has a 1-year low of $10.26 and a 1-year high of $19.48. The company has a 50-day simple moving average of $16.57 and a two-hundred day simple moving average of $14.82. The company has a market cap of $3.78 billion, a price-to-earnings ratio of 47.21, a P/E/G ratio of 10.94 and a beta of 0.03.

Pan American Silver (NASDAQ:PAAS) (TSE:PAAS) last announced its quarterly earnings results on Wednesday, November 6th. The basic materials company reported $0.35 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.10 by $0.25. Pan American Silver had a return on equity of 4.09% and a net margin of 2.51%. The firm had revenue of $352.19 million during the quarter, compared to analyst estimates of $324.87 million. During the same quarter in the previous year, the business earned ($0.03) EPS. Pan American Silver’s revenue for the quarter was up 87.6% compared to the same quarter last year. As a group, analysts anticipate that Pan American Silver will post 0.41 earnings per share for the current year.

A number of hedge funds have recently bought and sold shares of PAAS. Usca Ria LLC acquired a new stake in Pan American Silver in the 3rd quarter worth about $36,000. Flagship Harbor Advisors LLC boosted its holdings in Pan American Silver by 339.8% in the 3rd quarter. Flagship Harbor Advisors LLC now owns 3,395 shares of the basic materials company’s stock worth $53,000 after buying an additional 2,623 shares during the last quarter. Cerebellum GP LLC acquired a new stake in Pan American Silver in the 3rd quarter worth about $126,000. Tower Research Capital LLC TRC boosted its holdings in Pan American Silver by 25.5% in the 3rd quarter. Tower Research Capital LLC TRC now owns 10,345 shares of the basic materials company’s stock worth $162,000 after buying an additional 2,100 shares during the last quarter. Finally, Comerica Bank acquired a new stake in Pan American Silver in the 2nd quarter worth about $166,000. Institutional investors own 51.44% of the company’s stock.

About Pan American Silver

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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Analyst Recommendations for Pan American Silver (NASDAQ:PAAS)

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