Pan American Silver Corp. (PAAS) Earns Buy Rating from Canaccord Genuity

Canaccord Genuity reiterated their buy rating on shares of Pan American Silver Corp. (NASDAQ:PAAS) (TSE:PAAS) in a research note published on Friday, October 6th. Canaccord Genuity currently has a $23.00 price objective on the basic materials company’s stock.

Several other equities analysts have also commented on PAAS. BMO Capital Markets reaffirmed a hold rating and issued a $17.50 price objective on shares of Pan American Silver Corp. in a research report on Thursday, June 29th. Zacks Investment Research lowered shares of Pan American Silver Corp. from a hold rating to a sell rating in a research report on Thursday, July 13th. TheStreet lowered shares of Pan American Silver Corp. from a b- rating to a c+ rating in a research report on Friday, July 28th. BidaskClub cut shares of Pan American Silver Corp. from a hold rating to a sell rating in a research note on Thursday, August 10th. Finally, Royal Bank Of Canada set a $22.00 price objective on shares of Pan American Silver Corp. and gave the stock a buy rating in a research note on Thursday, August 10th. Eight analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Pan American Silver Corp. has a consensus rating of Hold and an average price target of $20.89.

Shares of Pan American Silver Corp. (NASDAQ:PAAS) opened at 16.88 on Friday. Pan American Silver Corp. has a 1-year low of $13.80 and a 1-year high of $21.29. The company has a market cap of $2.59 billion, a PE ratio of 21.59 and a beta of 0.14. The firm’s 50 day moving average is $17.69 and its 200-day moving average is $17.26.

Pan American Silver Corp. (NASDAQ:PAAS) (TSE:PAAS) last released its quarterly earnings results on Wednesday, August 9th. The basic materials company reported $0.15 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.09 by $0.06. The business had revenue of $201.30 million during the quarter, compared to analyst estimates of $184.96 million. Pan American Silver Corp. had a net margin of 14.62% and a return on equity of 6.16%. The company’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.13 earnings per share. Equities analysts expect that Pan American Silver Corp. will post $0.56 earnings per share for the current year.

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Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC acquired a new position in Pan American Silver Corp. in the 1st quarter valued at about $164,000. Alliancebernstein L.P. acquired a new position in shares of Pan American Silver Corp. during the second quarter worth about $170,000. Sigma Planning Corp acquired a new position in shares of Pan American Silver Corp. during the second quarter worth about $181,000. Cambridge Investment Research Advisors Inc. acquired a new position in shares of Pan American Silver Corp. during the second quarter worth about $189,000. Finally, Tower Research Capital LLC TRC grew its position in shares of Pan American Silver Corp. by 1,091.3% during the second quarter. Tower Research Capital LLC TRC now owns 8,661 shares of the basic materials company’s stock worth $189,000 after buying an additional 7,934 shares in the last quarter. 53.88% of the stock is owned by institutional investors.

About Pan American Silver Corp.

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.

Analyst Recommendations for Pan American Silver Corp. (NASDAQ:PAAS)

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