Pan American Silver (NASDAQ:PAAS) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Pan American Silver (NASDAQ:PAAS) (TSE:PAAS) from a hold rating to a buy rating in a report released on Thursday morning, Zacks.com reports. Zacks Investment Research currently has $15.00 target price 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. “

Other research analysts have also recently issued reports about the stock. National Bank Financial restated a sector perform rating and set a C$23.00 price target on shares of Pan American Silver in a report on Tuesday, March 26th. BidaskClub cut shares of Walgreens Boots Alliance from a sell rating to a strong sell rating in a report on Monday, June 24th. ValuEngine cut shares of Zuora from a buy rating to a hold rating in a report on Saturday, June 1st. Finally, Deutsche Bank cut their price target on shares of Vornado Realty Trust from $80.00 to $73.00 and set a hold rating on the stock in a report on Wednesday, April 10th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company’s stock. The company has a consensus rating of Hold and an average target price of $16.84.

Shares of NASDAQ PAAS opened at $13.08 on Thursday. The firm has a market capitalization of $2.74 billion, a PE ratio of 33.54, a P/E/G ratio of 11.76 and a beta of 0.14. The firm’s 50-day simple moving average is $11.97. Pan American Silver has a 1 year low of $10.26 and a 1 year high of $17.62. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.83 and a quick ratio of 2.74.

Pan American Silver (NASDAQ:PAAS) (TSE:PAAS) last issued its quarterly earnings data on Wednesday, May 8th. The basic materials company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.03. The firm had revenue of $232.60 million during the quarter, compared to analysts’ expectations of $240.67 million. Pan American Silver had a negative net margin of 0.34% and a positive return on equity of 2.11%. The business’s revenue was up 12.4% on a year-over-year basis. During the same period last year, the company earned $0.20 earnings per share. On average, research analysts forecast that Pan American Silver will post 0.28 EPS for the current year.

Hedge funds have recently made changes to their positions in the business. Frontier Capital Management Co. LLC bought a new stake in shares of Pan American Silver in the first quarter valued at approximately $35,232,000. Norges Bank bought a new stake in shares of Pan American Silver in the fourth quarter valued at approximately $25,283,000. Deutsche Bank AG increased its holdings in Pan American Silver by 84.1% during the 4th quarter. Deutsche Bank AG now owns 2,421,835 shares of the basic materials company’s stock worth $35,358,000 after acquiring an additional 1,106,093 shares during the period. Ruffer LLP bought a new stake in Pan American Silver during the 1st quarter worth approximately $14,513,000. Finally, Highbridge Capital Management LLC bought a new stake in Pan American Silver during the 4th quarter worth approximately $13,299,000. 54.02% of the stock is currently owned by institutional investors and hedge funds.

Pan American Silver Company Profile

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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