Pan American Silver Corp. (PAAS) has been initiated today with coverage from the research analysts at Dahlman Rose. Rose begins this new coverage of Pan American Silver with an initial price target set at $46.99 and rates performance of PAAS as “buy.” Rose notes that PAAS has solid growth potential and that the company has a good valuation method among its competitors being the highest leveraged to silver. Shares of Pan American Silver have spent today and yesterday consolidating within Wednesday’s trading range, unable to break above or below the previous daily range.
Pan American Silver is slated to release their next earnings report on August 11th, 2011, and is estimated to post EPS of 77 cents. Their last earnings report was released on May 18th, 2011, and announced EPS of 86 cents with revenue totaling $190.5 million which was up 43.9 % year to year. PAAS is currently trading below its 50 & 200-day moving averages and 2011 is currently a down year for the company.
Pan American Silver Corp. is principally engaged in the operation and development of, and exploration for, silver producing properties and assets. Pan American’s principal product is silver, although gold, zinc, lead, and copper are also produced and sold. The company has market capitalization of $3,183,513,300 and 107,189,000 shares outstanding. PAAS has a 52-week high of $43.06 with the low being $22.21 dollars.