Pan American Silver (NYSE:PAAS) Cut to "Hold" at TD Cowen

Key Points

• TD Cowen downgraded Pan American Silver from “buy” to “hold.” Despite the change, analysts’ overall consensus remains “Moderate Buy,” with a $67.71 price target.
• The company reported quarterly EPS of $0.69, ahead of the $0.66 consensus, while revenue of $1.01 billion missed expectations of $1.03 billion. Revenue increased 17.7% year over year.
• Shares opened at $41.22, below their 50-day and 200-day moving averages of $45.90 and $51.43, respectively.

Pan American Silver (NYSE:PAAS - Get Free Report) TSE: PAAS was downgraded by equities researchers at TD Cowen from a "buy" rating to a "hold" rating in a research note issued on Monday, Briefing.com reports.

A number of other analysts have also recently issued reports on PAAS. BMO Capital Markets restated a "market perform" rating on shares of Pan American Silver in a research note on Thursday, August 13th. Weiss Ratings lowered shares of Pan American Silver from a "buy (b)" rating to a "buy (b-)" rating in a research note on Friday, October 30th. Wall Street Zen lowered shares of Pan American Silver from a "buy" rating to a "hold" rating in a research note on Saturday, August 15th. Zacks Research raised shares of Pan American Silver from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 18th. Finally, Scotiabank restated an "outperform" rating on shares of Pan American Silver in a research report on Tuesday, July 14th. Six equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $67.71.

Pan American Silver Trading Up 0.1%

Shares of Pan American Silver stock opened at $41.22 on Monday. The business has a fifty day simple moving average of $45.90 and a two-hundred day simple moving average of $51.43. Pan American Silver has a 1 year low of $33.62 and a 1 year high of $69.99. The company has a market capitalization of $17.00 billion, a price-to-earnings ratio of 11.05, a P/E/G ratio of 4.62 and a beta of 0.76. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.72 and a quick ratio of 2.03.

Pan American Silver (NYSE:PAAS - Get Free Report) TSE: PAAS last released its quarterly earnings data on Wednesday, November 4th. The basic materials company reported $0.69 EPS for the quarter, topping analysts' consensus estimates of $0.66 by $0.03. Pan American Silver had a net margin of 35.18% and a return on equity of 20.94%. The firm had revenue of $1.01 billion during the quarter, compared to analysts' expectations of $1.03 billion. During the same period in the previous year, the business posted $0.48 earnings per share. The company's revenue for the quarter was up 17.7% compared to the same quarter last year. Research analysts forecast that Pan American Silver will post 3.34 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. acquired a new stake in Pan American Silver during the 2nd quarter valued at approximately $375,948,000. The Manufacturers Life Insurance Company bought a new position in Pan American Silver during the 2nd quarter worth approximately $145,312,000. Canada Pension Plan Investment Board acquired a new position in shares of Pan American Silver in the 2nd quarter worth approximately $138,282,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Pan American Silver in the 2nd quarter worth approximately $130,636,000. Finally, Amundi lifted its position in shares of Pan American Silver by 4.9% in the 2nd quarter. Amundi now owns 2,753,719 shares of the basic materials company's stock worth $123,339,000 after purchasing an additional 127,712 shares during the period. Institutional investors and hedge funds own 55.43% of the company's stock.

Pan American Silver Company Profile

Pan American Silver Corp. is a mining company focused on the exploration, development and operation of silver and gold mines. Its products also include by-products such as zinc, lead and copper, which are recovered during mining and processing.

Founded in 1994 and headquartered in Vancouver, British Columbia, the company operates mines and holds exploration and development interests in Canada and Latin America. Its portfolio has expanded over time through acquisitions, including its 2023 acquisition of Yamana Gold's Canadian assets and interests in several mines in Latin America.

Pan American Silver's activities span the mining lifecycle, from mineral exploration and project development to ore processing and the sale of produced metals.

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