Shares of Pan American Silver Corp. (NASDAQ:PAAS) dropped 1.5% during mid-day trading on Wednesday . The stock traded as low as $19.39 and last traded at $19.67, with a volume of 1,183,416 shares. The stock had previously closed at $19.96.

PAAS has been the subject of several recent analyst reports. Raymond James Financial Inc. upgraded Pan American Silver Corp. from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $15.00 to $18.50 in a research note on Monday, June 27th. FBR & Co upped their price target on Pan American Silver Corp. from $16.00 to $19.00 and gave the stock a “mkt perform” rating in a research note on Wednesday, July 20th. Royal Bank Of Canada upped their price target on Pan American Silver Corp. from $12.00 to $15.00 and gave the stock a “sector perform” rating in a research note on Monday, June 13th. Zacks Investment Research upgraded Pan American Silver Corp. from a “hold” rating to a “buy” rating and set a $16.00 price target for the company in a research note on Friday, April 22nd. Finally, BMO Capital Markets upgraded Pan American Silver Corp. from a “market perform” rating to an “outperform” rating in a research note on Thursday, May 12th. Six research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $14.44.

The company’s 50-day moving average is $17.44 and its 200-day moving average is $13.05. The stock’s market capitalization is $2.99 billion.

Pan American Silver Corp. (NASDAQ:PAAS) last announced its quarterly earnings data on Thursday, May 12th. The company reported $0.02 EPS for the quarter, beating the consensus estimate of ($0.06) by $0.08. The firm had revenue of $158.30 million for the quarter, compared to analyst estimates of $161.12 million. The firm’s revenue for the quarter was down 11.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.13) earnings per share. Equities analysts expect that Pan American Silver Corp. will post $0.32 earnings per share for the current year.

A hedge fund recently raised its stake in Pan American Silver Corp. stock. Dimensional Fund Advisors LP boosted its stake in shares of Pan American Silver Corp. (NASDAQ:PAAS) by 9.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 525,377 shares of the company’s stock after buying an additional 45,051 shares during the period. Dimensional Fund Advisors LP owned about 0.35% of Pan American Silver Corp. worth $3,415,000 at the end of the most recent reporting period.

Pan American Silver Corp. (Pan American) is engaged in the production and sale of silver, gold and base metals including copper, lead and zinc, as well as other related activities, including exploration, extraction, processing, refining and reclamation. The Company’s primary product (silver) is produced in Peru, Mexico, Argentina and Bolivia.

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