Pan American Silver (NASDAQ:PAAS) Rating Lowered to Buy at BidaskClub

Pan American Silver (NASDAQ:PAAS) (TSE:PAAS) was downgraded by analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a report issued on Friday, BidAskClub reports.

PAAS has been the subject of several other research reports. Deutsche Bank upped their target price on shares of Pan American Silver from $24.50 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, June 17th. Bank of America upgraded shares of Pan American Silver from a “neutral” rating to a “buy” rating and upped their target price for the company from $34.50 to $44.75 in a research report on Thursday, July 23rd. Zacks Investment Research upgraded shares of Pan American Silver from a “hold” rating to a “buy” rating and set a $29.00 target price for the company in a research report on Saturday, June 20th. Royal Bank of Canada reiterated a “buy” rating and set a $22.00 target price on shares of Pan American Silver in a research report on Thursday, April 30th. Finally, Scotiabank raised shares of Pan American Silver from an “underperform” rating to a “sector perform” rating in a report on Thursday, April 2nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $31.64.

PAAS stock traded up $1.84 during trading on Friday, hitting $37.36. The company had a trading volume of 3,589,447 shares, compared to its average volume of 3,985,243. The company has a quick ratio of 1.65, a current ratio of 2.95 and a debt-to-equity ratio of 0.12. The firm has a 50-day moving average price of $31.01 and a 200-day moving average price of $23.88. Pan American Silver has a 12 month low of $10.61 and a 12 month high of $39.33. The stock has a market cap of $7.85 billion, a price-to-earnings ratio of 249.07, a PEG ratio of 18.63 and a beta of 1.35.

Pan American Silver (NASDAQ:PAAS) (TSE:PAAS) last issued its earnings results on Wednesday, May 6th. The basic materials company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.13 by ($0.17). The business had revenue of $358.43 million for the quarter, compared to the consensus estimate of $373.18 million. Pan American Silver had a net margin of 2.19% and a return on equity of 5.95%. The business’s revenue was up 41.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.05 EPS. Equities analysts expect that Pan American Silver will post 0.84 EPS for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. WASHINGTON TRUST Co acquired a new position in Pan American Silver in the 1st quarter worth $30,000. Exane Derivatives acquired a new position in Pan American Silver in the 2nd quarter worth $32,000. Pathstone Family Office LLC acquired a new position in Pan American Silver in the 1st quarter worth $43,000. Optimum Investment Advisors boosted its stake in Pan American Silver by 250.0% in the 2nd quarter. Optimum Investment Advisors now owns 1,400 shares of the basic materials company’s stock worth $43,000 after purchasing an additional 1,000 shares during the period. Finally, Lindbrook Capital LLC boosted its stake in Pan American Silver by 32.4% in the 2nd quarter. Lindbrook Capital LLC now owns 1,840 shares of the basic materials company’s stock worth $56,000 after purchasing an additional 450 shares during the period. 51.90% of the stock is owned by hedge funds and other institutional investors.

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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Analyst Recommendations for Pan American Silver (NASDAQ:PAAS)

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