Pan American Silver (NYSE:PAAS) Stock Rating Upgraded by Zacks Research

Pan American Silver (NYSE:PAAS) (TSE:PAAS) was upgraded by equities research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued on Tuesday,Zacks.com reports.

PAAS has been the subject of several other reports. TD Cowen upgraded Pan American Silver from a “hold” rating to a “buy” rating and lifted their target price for the stock from $67.00 to $72.00 in a research report on Tuesday, May 12th. Jefferies Financial Group dropped their target price on Pan American Silver from $54.00 to $53.00 and set a “hold” rating on the stock in a research report on Monday, July 6th. TD Securities raised shares of Pan American Silver from a “hold” rating to a “buy” rating and set a $72.00 price objective on the stock in a research report on Monday, May 11th. Bank of America dropped their target price on Pan American Silver from $77.00 to $69.00 and set a “buy” rating on the stock in a research note on Thursday, July 9th. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $75.00 price target on shares of Pan American Silver in a research note on Tuesday, April 28th. Eight equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $70.43.

Pan American Silver Price Performance

NYSE:PAAS opened at $50.33 on Tuesday. The business has a 50 day simple moving average of $46.11 and a 200-day simple moving average of $52.76. Pan American Silver has a 1 year low of $30.68 and a 1 year high of $69.99. The firm has a market capitalization of $20.99 billion, a price-to-earnings ratio of 15.21, a PEG ratio of 4.26 and a beta of 0.73. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.94 and a quick ratio of 2.23.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last posted its quarterly earnings data on Wednesday, August 12th. The basic materials company reported $0.73 EPS for the quarter, missing the consensus estimate of $0.84 by ($0.11). The firm had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.16 billion. Pan American Silver had a return on equity of 20.01% and a net margin of 32.04%.The firm’s quarterly revenue was up 38.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.43 earnings per share. Equities analysts forecast that Pan American Silver will post 4.09 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Fifth Third Bancorp lifted its stake in Pan American Silver by 1,336.1% in the 1st quarter. Fifth Third Bancorp now owns 517 shares of the basic materials company’s stock valued at $28,000 after buying an additional 481 shares in the last quarter. NFJ Investment Group LLC acquired a new position in Pan American Silver during the second quarter worth $25,000. Parallel Advisors LLC boosted its position in shares of Pan American Silver by 151.8% during the 3rd quarter. Parallel Advisors LLC now owns 642 shares of the basic materials company’s stock valued at $25,000 after acquiring an additional 387 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in Pan American Silver in the 4th quarter valued at about $34,000. Finally, Danske Bank A S purchased a new position in Pan American Silver in the second quarter worth approximately $30,000. 55.43% of the stock is owned by institutional investors and hedge funds.

About Pan American Silver

Pan American Silver Corp. (NYSE: PAAS) is a Vancouver-based mining company and one of the world’s largest primary silver producers. The company’s core activities encompass the exploration, development, extraction and processing of silver, with significant by-product production of gold, zinc and lead. Pan American Silver maintains a vertically integrated operating model, covering the full mining value chain from resource discovery through to refined metal production.

With a geographic footprint concentrated across the Americas, Pan American Silver operates multiple mines in Mexico, Peru, Argentina and Bolivia, and is advancing several development and exploration projects in Chile and Ecuador.