Pan American Silver (NYSE:PAAS) Raised to “Strong-Buy” at Wall Street Zen

Pan American Silver (NYSE:PAAS) (TSE:PAAS) was upgraded by stock analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a note issued to investors on Sunday.

A number of other research analysts have also issued reports on PAAS. Scotiabank lifted their target price on Pan American Silver from $47.00 to $64.00 and gave the stock an “outperform” rating in a report on Monday, January 26th. Weiss Ratings restated a “buy (b)” rating on shares of Pan American Silver in a research report on Monday, December 29th. Canadian Imperial Bank of Commerce set a $88.00 price objective on shares of Pan American Silver and gave the stock an “outperform” rating in a research note on Wednesday, February 4th. Jefferies Financial Group dropped their target price on shares of Pan American Silver from $58.00 to $54.00 and set a “hold” rating on the stock in a report on Wednesday, January 21st. Finally, Bank of America raised their target price on shares of Pan American Silver from $46.00 to $51.00 and gave the stock a “buy” rating in a report on Monday, December 1st. Five investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Pan American Silver has an average rating of “Moderate Buy” and an average target price of $56.60.

Pan American Silver Stock Performance

PAAS opened at $65.18 on Friday. The company has a market capitalization of $27.50 billion, a price-to-earnings ratio of 26.07, a price-to-earnings-growth ratio of 0.61 and a beta of 0.66. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.69 and a quick ratio of 1.97. Pan American Silver has a 1-year low of $20.55 and a 1-year high of $69.99. The business has a 50 day moving average price of $56.37 and a two-hundred day moving average price of $44.19.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last issued its quarterly earnings results on Wednesday, February 18th. The basic materials company reported $1.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.21. Pan American Silver had a return on equity of 16.38% and a net margin of 27.07%.The company had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.11 billion. During the same period last year, the firm earned $0.35 EPS. The firm’s revenue for the quarter was up 44.7% on a year-over-year basis. Research analysts predict that Pan American Silver will post 1.26 EPS for the current fiscal year.

Institutional Investors Weigh In On Pan American Silver

Several hedge funds have recently made changes to their positions in the company. AQR Capital Management LLC grew its position in Pan American Silver by 48.6% during the 1st quarter. AQR Capital Management LLC now owns 19,529 shares of the basic materials company’s stock worth $504,000 after purchasing an additional 6,391 shares in the last quarter. Jones Financial Companies Lllp grew its holdings in shares of Pan American Silver by 574.9% during the first quarter. Jones Financial Companies Lllp now owns 19,518 shares of the basic materials company’s stock valued at $504,000 after buying an additional 16,626 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Pan American Silver by 31.6% during the first quarter. Goldman Sachs Group Inc. now owns 1,499,343 shares of the basic materials company’s stock valued at $38,728,000 after buying an additional 360,283 shares in the last quarter. Empowered Funds LLC acquired a new position in Pan American Silver during the first quarter valued at $1,272,000. Finally, Vanguard Personalized Indexing Management LLC acquired a new position in Pan American Silver during the second quarter valued at $215,000. Hedge funds and other institutional investors own 55.43% of the company’s stock.

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.