Pan American Silver (NASDAQ:PAAS) Upgraded to “Buy” at Zacks Investment Research

Share on StockTwits

Pan American Silver (NASDAQ:PAAS) (TSE:PAAS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday, Zacks.com reports. The firm currently has a $15.00 price objective on the basic materials company’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 13.46% from the stock’s current price.

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. “

Several other research firms also recently commented on PAAS. Deutsche Bank decreased their price objective on Vornado Realty Trust from $80.00 to $73.00 and set a “hold” rating on the stock in a report on Wednesday, April 10th. BidaskClub downgraded Walgreens Boots Alliance from a “sell” rating to a “strong sell” rating in a report on Monday, June 24th. 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. Finally, ValuEngine downgraded Zuora from a “buy” rating to a “hold” rating in a report on Saturday, June 1st. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $16.84.

Shares of PAAS traded down $0.05 during trading hours on Thursday, hitting $13.22. The company had a trading volume of 62,923 shares, compared to its average volume of 2,197,082. The firm has a market cap of $2.78 billion, a price-to-earnings ratio of 33.90, a P/E/G ratio of 11.95 and a beta of 0.14. The company’s 50 day moving average is $11.87. The company has a current ratio of 3.83, a quick ratio of 2.74 and a debt-to-equity ratio of 0.15. Pan American Silver has a 52-week low of $10.26 and a 52-week high of $17.62.

Pan American Silver (NASDAQ:PAAS) (TSE:PAAS) last released its quarterly earnings data on Wednesday, May 8th. The basic materials company reported $0.05 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.03. The firm had revenue of $232.60 million for the quarter, compared to the consensus estimate of $240.67 million. Pan American Silver had a positive return on equity of 2.11% and a negative net margin of 0.34%. The company’s quarterly revenue was up 12.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.20 earnings per share. On average, equities research analysts forecast that Pan American Silver will post 0.27 earnings per share for the current fiscal year.

A number of large investors have recently made changes to their positions in PAAS. Frontier Capital Management Co. LLC purchased a new position in shares of Pan American Silver during the 1st quarter worth approximately $35,232,000. Norges Bank purchased a new position in shares of Pan American Silver during the 4th quarter worth approximately $25,283,000. Deutsche Bank AG grew its holdings in shares of 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 purchased a new position in shares of Pan American Silver during the 1st quarter worth approximately $14,513,000. Finally, Highbridge Capital Management LLC purchased a new position in shares of Pan American Silver during the 4th quarter worth approximately $13,299,000. Institutional investors own 73.73% of the company’s stock.

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.

Featured Story: What is the formula for the cash asset ratio?

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.