Pan American Silver (NYSE:PAAS) Price Target Increased to $26.00 by Analysts at Scotiabank

Pan American Silver (NYSE:PAAS) (TSE:PAAS) had its target price upped by equities researchers at Scotiabank from $23.00 to $26.00 in a research report issued on Tuesday, Benzinga reports. The brokerage presently has a “sector outperform” rating on the basic materials company’s stock. Scotiabank’s target price would indicate a potential upside of 7.57% from the stock’s previous close.

Several other equities research analysts also recently commented on PAAS. CIBC increased their price objective on Pan American Silver from $30.00 to $35.00 and gave the company an “outperformer” rating in a report on Wednesday, July 10th. StockNews.com upgraded Pan American Silver from a “sell” rating to a “hold” rating in a research report on Saturday, May 11th. Jefferies Financial Group raised their price target on Pan American Silver from $19.00 to $22.00 and gave the stock a “hold” rating in a research report on Friday. Finally, BMO Capital Markets raised their price target on Pan American Silver from $22.00 to $24.00 in a research report on Tuesday, May 21st. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $24.42.

Pan American Silver Trading Up 4.1 %

Shares of NYSE:PAAS traded up $0.96 during midday trading on Tuesday, hitting $24.17. The company had a trading volume of 4,487,483 shares, compared to its average volume of 4,391,466. Pan American Silver has a 12 month low of $12.16 and a 12 month high of $24.27. The company has a current ratio of 2.11, a quick ratio of 0.92 and a debt-to-equity ratio of 0.16. The stock has a market cap of $8.77 billion, a price-to-earnings ratio of -52.52 and a beta of 1.32. The firm has a fifty day simple moving average of $20.88 and a 200 day simple moving average of $17.18.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last issued its quarterly earnings data on Wednesday, May 8th. The basic materials company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.06) by $0.07. The business had revenue of $601.40 million for the quarter, compared to the consensus estimate of $592.58 million. Pan American Silver had a positive return on equity of 0.13% and a negative net margin of 6.68%. The firm’s revenue was up 54.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.10 EPS. On average, analysts predict that Pan American Silver will post 0.59 EPS for the current year.

Institutional Trading of Pan American Silver

Several hedge funds and other institutional investors have recently made changes to their positions in PAAS. Van ECK Associates Corp boosted its stake in shares of Pan American Silver by 1.4% in the 1st quarter. Van ECK Associates Corp now owns 46,486,439 shares of the basic materials company’s stock valued at $701,016,000 after purchasing an additional 653,064 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Pan American Silver by 1.2% during the first quarter. Vanguard Group Inc. now owns 13,225,480 shares of the basic materials company’s stock worth $199,440,000 after buying an additional 159,908 shares during the period. Norges Bank acquired a new stake in shares of Pan American Silver during the fourth quarter worth $63,066,000. Tidal Investments LLC increased its position in shares of Pan American Silver by 15,618.3% during the first quarter. Tidal Investments LLC now owns 3,803,507 shares of the basic materials company’s stock worth $57,340,000 after buying an additional 3,779,309 shares during the period. Finally, Sprott Inc. increased its position in shares of Pan American Silver by 3.7% during the fourth quarter. Sprott Inc. now owns 3,046,124 shares of the basic materials company’s stock worth $49,746,000 after buying an additional 107,965 shares during the period. 55.43% of the stock is currently owned by institutional investors.

About Pan American Silver

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.