Zacks Investment Research upgraded shares of Pan American Silver (NASDAQ:PAAS) (TSE:PAAS) from a hold rating to a buy rating in a report issued on Thursday, Zacks.com reports. Zacks Investment Research currently has $15.00 price target on the basic materials company’s stock.
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 analysts have also weighed in on the stock. Deutsche Bank reduced their price objective on shares of Vornado Realty Trust from $80.00 to $73.00 and set a hold rating for the company in a research note on Wednesday, April 10th. BidaskClub lowered shares of Walgreens Boots Alliance from a sell rating to a strong sell rating in a research note on Monday, June 24th. National Bank Financial restated a sector perform rating and set a C$23.00 price objective on shares of Pan American Silver in a research note on Tuesday, March 26th. Finally, ValuEngine lowered shares of Zuora from a buy rating to a hold rating in a research note on Saturday, June 1st. One analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus target price of $16.84.
Pan American Silver (NASDAQ:PAAS) (TSE:PAAS) last issued its quarterly earnings results on Wednesday, May 8th. The basic materials company reported $0.05 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.03. The company had revenue of $232.60 million during the quarter, compared to analyst estimates of $240.67 million. Pan American Silver had a negative net margin of 0.34% and a positive return on equity of 2.11%. Pan American Silver’s quarterly revenue was up 12.4% compared to the same quarter last year. During the same period last year, the business earned $0.20 EPS. Equities analysts anticipate that Pan American Silver will post 0.28 EPS for the current fiscal year.
Large investors have recently added to or reduced their stakes in the business. Claybrook Capital LLC bought a new stake in Pan American Silver during the 4th quarter valued at about $33,000. PNC Financial Services Group Inc. increased its stake in Pan American Silver by 83.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 4,400 shares of the basic materials company’s stock valued at $64,000 after purchasing an additional 2,000 shares in the last quarter. Cullen Frost Bankers Inc. bought a new stake in Pan American Silver during the 1st quarter valued at about $80,000. NumerixS Investment Technologies Inc bought a new stake in shares of Pan American Silver in the first quarter worth approximately $106,000. Finally, Investors Research Corp bought a new stake in shares of Pan American Silver in the first quarter worth approximately $131,000. Institutional investors and hedge funds own 73.73% of the company’s stock.
About Pan American Silver
Pan American Silver Corp., together with its subsidiaries, engages in the exploration, development, extraction, processing, refining, and reclamation of silver mines. The company owns and operates mines located in Mexico, Peru, Canada, Argentina, and Bolivia. It also produces and sells gold, zinc, lead, and copper.
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