Pan American Silver (NYSE:PAAS) Price Target Raised to $51.00

Pan American Silver (NYSE:PAAS) (TSE:PAAS) had its price objective increased by investment analysts at Bank of America from $46.00 to $51.00 in a research note issued on Monday,Benzinga reports. The firm currently has a “buy” rating on the basic materials company’s stock. Bank of America‘s price objective would suggest a potential upside of 10.22% from the stock’s current price.

PAAS has been the topic of several other research reports. Scotiabank upped their price objective on shares of Pan American Silver from $36.00 to $47.00 and gave the company an “outperform” rating in a research note on Thursday, October 23rd. Weiss Ratings reissued a “buy (b)” rating on shares of Pan American Silver in a research note on Monday, November 24th. National Bank Financial upgraded Pan American Silver to a “strong-buy” rating in a report on Thursday, September 4th. Wall Street Zen lowered Pan American Silver from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 15th. Finally, CIBC raised their price target on Pan American Silver from $50.00 to $62.00 and gave the stock an “outperformer” rating in a research note on Friday, October 10th. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $43.20.

Pan American Silver Price Performance

NYSE:PAAS traded up $0.60 during trading hours on Monday, reaching $46.27. 4,654,002 shares of the company traded hands, compared to its average volume of 5,100,861. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.05 and a quick ratio of 2.11. The stock has a market cap of $19.53 billion, a P/E ratio of 31.82, a P/E/G ratio of 0.44 and a beta of 0.63. Pan American Silver has a 1-year low of $19.80 and a 1-year high of $46.60. The firm’s 50-day moving average is $37.94 and its 200-day moving average is $32.65.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last announced its earnings results on Wednesday, November 12th. The basic materials company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.01). The firm had revenue of $854.60 million during the quarter, compared to analyst estimates of $867.76 million. Pan American Silver had a net margin of 16.80% and a return on equity of 11.49%. The company’s revenue for the quarter was up 19.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.32 EPS. Equities research analysts expect that Pan American Silver will post 1.26 earnings per share for the current fiscal year.

Institutional Trading of Pan American Silver

A number of institutional investors and hedge funds have recently bought and sold shares of PAAS. Parallel Advisors LLC lifted its stake in shares of Pan American Silver by 151.8% during the third quarter. Parallel Advisors LLC now owns 642 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 387 shares in the last quarter. Rothschild Investment LLC acquired a new position in Pan American Silver during the 3rd quarter worth approximately $36,000. City State Bank boosted its holdings in Pan American Silver by 74.4% in the 3rd quarter. City State Bank now owns 1,020 shares of the basic materials company’s stock worth $40,000 after acquiring an additional 435 shares during the period. EverSource Wealth Advisors LLC grew its position in Pan American Silver by 93.6% in the third quarter. EverSource Wealth Advisors LLC now owns 1,028 shares of the basic materials company’s stock valued at $40,000 after acquiring an additional 497 shares in the last quarter. Finally, Assetmark Inc. lifted its position in shares of Pan American Silver by 3,111.4% during the third quarter. Assetmark Inc. now owns 1,124 shares of the basic materials company’s stock worth $44,000 after purchasing an additional 1,089 shares in the last quarter. 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.