Pan American Silver (NYSE:PAAS) Raised to Buy at StockNews.com

Pan American Silver (NYSE:PAAS) (TSE:PAAS) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Monday.

A number of other research analysts have also weighed in on PAAS. Jefferies Financial Group raised their price objective on Pan American Silver from $21.00 to $23.00 and gave the company a “hold” rating in a research report on Friday, October 4th. Royal Bank of Canada upped their price target on shares of Pan American Silver from $25.00 to $27.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 10th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $25.42.

Pan American Silver Trading Down 1.4 %

NYSE:PAAS opened at $22.58 on Monday. The firm has a market capitalization of $8.20 billion, a P/E ratio of -132.82 and a beta of 1.33. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.06 and a quick ratio of 0.96. Pan American Silver has a one year low of $12.16 and a one year high of $26.05. The company’s 50-day simple moving average is $22.47 and its 200 day simple moving average is $21.45.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Lighthouse Investment Partners LLC purchased a new stake in Pan American Silver during the second quarter valued at $990,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Pan American Silver in the 2nd quarter worth $963,000. Cetera Investment Advisers purchased a new stake in Pan American Silver in the 1st quarter worth $1,565,000. Stratos Wealth Advisors LLC lifted its position in shares of Pan American Silver by 33.4% in the third quarter. Stratos Wealth Advisors LLC now owns 159,268 shares of the basic materials company’s stock valued at $3,324,000 after acquiring an additional 39,873 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its stake in shares of Pan American Silver by 121.6% in the first quarter. Janus Henderson Group PLC now owns 45,279 shares of the basic materials company’s stock worth $682,000 after acquiring an additional 24,847 shares during the period. Institutional investors own 55.43% of the company’s stock.

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.