Zacks Investment Research Downgrades Pan American Silver (PAAS) to Hold

Pan American Silver (NASDAQ:PAAS) (TSE:PAAS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued 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. “

Other equities analysts have also issued reports about the stock. ValuEngine upgraded shares of Pan American Silver from a “sell” rating to a “hold” rating in a research report on Thursday, October 4th. Deutsche Bank set a $18.00 price target on shares of Pan American Silver and gave the company a “hold” rating in a research report on Tuesday, October 2nd. BidaskClub upgraded shares of Pan American Silver from a “sell” rating to a “hold” rating in a research report on Saturday, December 8th. Canaccord Genuity restated a “buy” rating and issued a $25.00 price target on shares of Pan American Silver in a research report on Tuesday. Finally, Bank of America lowered shares of Pan American Silver from a “neutral” rating to an “underperform” rating and reduced their price target for the company from $16.70 to $12.75 in a research report on Monday, November 19th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the stock. Pan American Silver has a consensus rating of “Hold” and an average price target of $18.72.

NASDAQ:PAAS traded down $0.06 on Thursday, reaching $15.00. The stock had a trading volume of 1,548,645 shares, compared to its average volume of 1,500,644. The firm has a market cap of $2.37 billion, a PE ratio of 29.41, a price-to-earnings-growth ratio of 6.49 and a beta of -0.07. Pan American Silver has a 1-year low of $12.12 and a 1-year high of $18.75.

Pan American Silver (NASDAQ:PAAS) (TSE:PAAS) last released its quarterly earnings results on Tuesday, November 6th. The basic materials company reported ($0.03) EPS for the quarter, missing the Zacks’ consensus estimate of $0.07 by ($0.10). The firm had revenue of $187.70 million during the quarter, compared to analyst estimates of $193.93 million. Pan American Silver had a net margin of 14.75% and a return on equity of 5.15%. Pan American Silver’s quarterly revenue was down 1.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.15 earnings per share. Analysts expect that Pan American Silver will post 0.43 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Russell Investments Group Ltd. raised its stake in shares of Pan American Silver by 25.2% in the second quarter. Russell Investments Group Ltd. now owns 152,687 shares of the basic materials company’s stock worth $2,699,000 after acquiring an additional 30,748 shares during the last quarter. Capital Fund Management S.A. raised its stake in shares of Pan American Silver by 7.5% during the third quarter. Capital Fund Management S.A. now owns 371,828 shares of the basic materials company’s stock worth $5,488,000 after buying an additional 26,014 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Pan American Silver by 465.8% during the third quarter. JPMorgan Chase & Co. now owns 200,163 shares of the basic materials company’s stock worth $2,955,000 after buying an additional 164,783 shares during the last quarter. Schroder Investment Management Group raised its stake in shares of Pan American Silver by 27.3% during the second quarter. Schroder Investment Management Group now owns 222,803 shares of the basic materials company’s stock worth $3,912,000 after buying an additional 47,793 shares during the last quarter. Finally, U S Global Investors Inc raised its stake in shares of Pan American Silver by 17.9% during the third quarter. U S Global Investors Inc now owns 176,873 shares of the basic materials company’s stock worth $2,610,000 after buying an additional 26,873 shares during the last quarter. 51.25% of the stock is owned by institutional investors.

About Pan American Silver

Pan American Silver Corp., together with its subsidiaries, engages in exploration, extraction, processing, refining, and reclamation of silver mines. The company owns and operates silver mines located in Peru, Mexico, Argentina, and Bolivia. It also produces and sells gold, zinc, lead, and copper. The company holds interests in the La Colorada, Dolores, Alamo Dorado, Huaron, Morococha, Manantial Espejo, and San Vicente mines.

Featured Story: Leveraged Buyout (LBO)

Get a free copy of the Zacks research report on Pan American Silver (PAAS)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Pan American Silver (NASDAQ:PAAS)

Receive News & Ratings for Pan American Silver Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pan American Silver and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply