Pan American Silver (NYSE:PAAS) Cut to Buy at Wall Street Zen

Pan American Silver (NYSE:PAAS) (TSE:PAAS) was downgraded by equities researchers at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research report issued on Sunday.

A number of other equities research analysts have also weighed in on the stock. Jefferies Financial Group decreased their price objective on shares of Pan American Silver from $54.00 to $53.00 and set a “hold” rating for the company in a report on Monday, July 6th. Bank of America lowered their price target on Pan American Silver from $77.00 to $69.00 and set a “buy” rating for the company in a report on Thursday. Zacks Research downgraded Pan American Silver from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 22nd. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $75.00 target price on shares of Pan American Silver in a research report on Tuesday, April 28th. Finally, TD Cowen raised Pan American Silver from a “hold” rating to a “buy” rating and increased their price target for the stock from $67.00 to $72.00 in a research report on Tuesday, May 12th. Eight equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $70.43.

Pan American Silver Trading Down 1.0%

PAAS traded down $0.42 during trading hours on Friday, reaching $43.70. 2,953,041 shares of the company’s stock traded hands, compared to its average volume of 4,483,336. The firm has a 50-day moving average price of $51.07 and a 200 day moving average price of $54.84. The firm has a market capitalization of $18.35 billion, a PE ratio of 14.05, a PEG ratio of 3.79 and a beta of 0.72. The company has a quick ratio of 2.11, a current ratio of 2.84 and a debt-to-equity ratio of 0.11. Pan American Silver has a 52-week low of $26.76 and a 52-week high of $69.99.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last released its earnings results on Tuesday, May 5th. The basic materials company reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.03. The business had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.25 billion. Pan American Silver had a return on equity of 19.50% and a net margin of 31.66%.The business’s revenue for the quarter was up 49.3% compared to the same quarter last year. During the same period last year, the company earned $0.42 earnings per share. As a group, sell-side analysts predict that Pan American Silver will post 4.31 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in shares of Pan American Silver during the fourth quarter worth $303,611,000. FIL Ltd raised its stake in Pan American Silver by 154.7% in the 4th quarter. FIL Ltd now owns 7,307,777 shares of the basic materials company’s stock worth $378,872,000 after acquiring an additional 4,438,478 shares during the last quarter. Capital International Investors acquired a new stake in Pan American Silver during the 4th quarter worth about $215,484,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Pan American Silver by 38.7% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,462,912 shares of the basic materials company’s stock valued at $560,149,000 after purchasing an additional 4,037,311 shares during the last quarter. Finally, Bank of America Corp DE increased its holdings in shares of Pan American Silver by 148.3% in the second quarter. Bank of America Corp DE now owns 3,368,233 shares of the basic materials company’s stock valued at $95,658,000 after purchasing an additional 2,011,862 shares during the period. 55.43% of the stock is currently owned by hedge funds and other institutional investors.

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.