Zacks Investment Research cut shares of Pan American Silver (NASDAQ:PAAS) (TSE:PAAS) from a buy rating to a hold rating in a research note published on Thursday.

According to Zacks, “PAN AMER SILVER is a mining company focused exclusively on silver. Pan American Silver Corp. is founded upon a single mission, to become the best vehicle for equity investors wanting to gain real exposure to higher silver prices. To accomplish this they are striving to increase their low-cost silver production, to have the most successful silver exploration programs, to hold the largest silver reserves and resources, and to be the purest of the world’s large silver producers. “

A number of other research analysts have also commented on the stock. Royal Bank of Canada set a $22.00 price objective on shares of Pan American Silver and gave the company a buy rating in a research note on Tuesday, December 5th. Credit Suisse Group upgraded shares of Pan American Silver from a neutral rating to an outperform rating in a research note on Wednesday, November 22nd. B. Riley upgraded shares of Pan American Silver from a neutral rating to a buy rating and set a $21.00 price objective on the stock in a research note on Thursday, November 9th. Raymond James Financial lowered shares of Pan American Silver from an outperform rating to a market perform rating and set a $20.50 price objective on the stock. in a research note on Friday, September 8th. Finally, UBS Group lowered shares of Pan American Silver from an outperform rating to a market perform rating in a research note on Thursday, September 7th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have given a buy rating to the company’s stock. The stock has an average rating of Buy and an average price target of $21.13.

Pan American Silver (NASDAQ PAAS) traded down $0.09 during midday trading on Thursday, reaching $15.59. 772,300 shares of the company’s stock were exchanged, compared to its average volume of 1,364,750. The firm has a market capitalization of $2,450.00, a price-to-earnings ratio of 25.56, a PEG ratio of 6.61 and a beta of 0.09. Pan American Silver has a one year low of $13.99 and a one year high of $21.29.

Pan American Silver (NASDAQ:PAAS) (TSE:PAAS) last posted its quarterly earnings data on Wednesday, November 8th. The basic materials company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.02. The company had revenue of $190.79 million for the quarter, compared to analyst estimates of $199.43 million. Pan American Silver had a net margin of 12.23% and a return on equity of 5.12%. Pan American Silver’s quarterly revenue was down 18.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.24 earnings per share. analysts expect that Pan American Silver will post 0.49 EPS for the current fiscal year.

Several institutional investors have recently modified their holdings of the company. Raymond James Financial Services Advisors Inc. increased its stake in shares of Pan American Silver by 1.6% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 42,371 shares of the basic materials company’s stock worth $713,000 after acquiring an additional 679 shares during the period. Advisor Group Inc. boosted its holdings in Pan American Silver by 3.9% during the second quarter. Advisor Group Inc. now owns 21,567 shares of the basic materials company’s stock worth $362,000 after buying an additional 800 shares in the last quarter. National Asset Management Inc. boosted its holdings in Pan American Silver by 4.3% during the second quarter. National Asset Management Inc. now owns 20,450 shares of the basic materials company’s stock worth $344,000 after buying an additional 850 shares in the last quarter. Legal & General Group Plc boosted its holdings in Pan American Silver by 5.7% during the second quarter. Legal & General Group Plc now owns 18,253 shares of the basic materials company’s stock worth $307,000 after buying an additional 990 shares in the last quarter. Finally, Cheviot Value Management LLC boosted its holdings in Pan American Silver by 0.8% during the second quarter. Cheviot Value Management LLC now owns 239,898 shares of the basic materials company’s stock worth $4,035,000 after buying an additional 1,900 shares in the last quarter. Institutional investors and hedge funds own 53.89% of the company’s stock.

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About Pan American Silver

Pan American Silver Corp. is a silver production company. The Company is principally engaged in the operation and development of, and exploration for, silver producing properties. The Company’s segments include Peru, Mexico, Argentina and Bolivia. The Company also produces and sells gold, zinc, lead and copper.

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