Pan American Silver (NYSE:PAAS) Price Target Raised to $32.00

Pan American Silver (NYSE:PAAS) (TSE:PAAS) had its price target hoisted by Scotiabank from $28.50 to $32.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has a “sector outperform” rating on the basic materials company’s stock. Scotiabank’s price target suggests a potential upside of 16.50% from the company’s previous close.

Several other analysts have also recently commented on PAAS. Royal Bank of Canada lifted their price target on Pan American Silver from $28.00 to $30.00 and gave the company an “outperform” rating in a report on Tuesday, February 11th. StockNews.com lowered shares of Pan American Silver from a “buy” rating to a “hold” rating in a research report on Wednesday, April 2nd. National Bankshares reaffirmed an “outperform” rating on shares of Pan American Silver in a research note on Wednesday, April 2nd. Finally, TD Securities cut shares of Pan American Silver from a “buy” rating to a “hold” rating and lowered their price objective for the company from $28.00 to $27.00 in a research note on Tuesday, March 11th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Pan American Silver currently has a consensus rating of “Moderate Buy” and a consensus target price of $28.50.

Pan American Silver Stock Up 1.1 %

Shares of NYSE PAAS opened at $27.47 on Monday. The firm’s 50 day moving average price is $24.88 and its 200 day moving average price is $23.16. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.96 and a current ratio of 2.50. The firm has a market cap of $9.95 billion, a P/E ratio of 85.84 and a beta of 1.06. Pan American Silver has a 1 year low of $17.86 and a 1 year high of $27.66.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last posted its quarterly earnings data on Wednesday, February 19th. The basic materials company reported $0.35 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.35. The business had revenue of $815.10 million for the quarter, compared to analysts’ expectations of $805.20 million. Pan American Silver had a return on equity of 6.14% and a net margin of 3.98%. As a group, sell-side analysts anticipate that Pan American Silver will post 1.26 earnings per share for the current year.

Hedge Funds Weigh In On Pan American Silver

Hedge funds and other institutional investors have recently made changes to their positions in the business. SG Americas Securities LLC raised its position in Pan American Silver by 187.6% in the first quarter. SG Americas Securities LLC now owns 376,448 shares of the basic materials company’s stock valued at $9,724,000 after purchasing an additional 245,575 shares during the period. Farther Finance Advisors LLC raised its holdings in shares of Pan American Silver by 39.8% during the 1st quarter. Farther Finance Advisors LLC now owns 2,720 shares of the basic materials company’s stock valued at $70,000 after buying an additional 775 shares during the period. Veracity Capital LLC acquired a new position in Pan American Silver during the 1st quarter worth approximately $258,000. RFG Advisory LLC purchased a new position in Pan American Silver in the 1st quarter worth approximately $217,000. Finally, GAMMA Investing LLC acquired a new stake in Pan American Silver in the first quarter valued at approximately $199,000. Institutional investors and hedge funds own 55.43% of the company’s stock.

Pan American Silver Company Profile

Pan American Silver Corp. engages in the exploration, mine development, extraction, processing, refining, and reclamation of silver, gold, zinc, lead, and copper mines in Canada, Mexico, Peru, Bolivia, Argentina, Chile, and Brazil. The company was formerly known as Pan American Minerals Corp. and changed its name to Pan American Silver Corp.