Royal Bank Of Canada Cuts Pan American Silver (NYSE:PAAS) Price Target to $56.00

Key Points

• Royal Bank of Canada lowered Pan American Silver’s price target from $65 to $56 while maintaining an “outperform” rating, implying 17.19% upside from the prior close.
• Analyst sentiment remains generally positive, with seven Buy ratings and three Holds, resulting in a “Moderate Buy” consensus and an average price target of $67.71.
• Pan American Silver reported quarterly EPS of $0.73, below the $0.84 consensus estimate, while revenue rose 38.4% year over year to $1.12 billion; shares recently traded at $47.79.

Pan American Silver (NYSE:PAAS - Get Free Report) TSE: PAAS had its price target dropped by stock analysts at Royal Bank Of Canada from $65.00 to $56.00 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has an "outperform" rating on the basic materials company's stock. Royal Bank Of Canada's price target would suggest a potential upside of 17.19% from the stock's previous close.

Other equities analysts have also issued reports about the stock. Jefferies Financial Group dropped their price target on shares of Pan American Silver from $54.00 to $53.00 and set a "hold" rating for the company in a research report on Monday, July 6th. Bank of America decreased their price target on Pan American Silver from $77.00 to $69.00 and set a "buy" rating on the stock in a report on Thursday, July 9th. Scotiabank reaffirmed an "outperform" rating on shares of Pan American Silver in a research note on Tuesday, July 14th. Weiss Ratings cut Pan American Silver from a "buy (b)" rating to a "buy (b-)" rating in a research report on Thursday, July 16th. Finally, Wall Street Zen downgraded Pan American Silver from a "buy" rating to a "hold" rating in a research note on Saturday, August 15th. Seven equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $67.71.

Pan American Silver Stock Performance

NYSE PAAS traded down $0.63 during trading hours on Wednesday, hitting $47.79. 1,425,669 shares of the company's stock traded hands, compared to its average volume of 6,105,912. Pan American Silver has a 52 week low of $33.08 and a 52 week high of $69.99. The firm has a market capitalization of $19.84 billion, a P/E ratio of 14.46, a P/E/G ratio of 4.79 and a beta of 0.77. The company has a current ratio of 2.94, a quick ratio of 2.23 and a debt-to-equity ratio of 0.11. The business's fifty day moving average price is $47.96 and its two-hundred day moving average price is $51.85.

Pan American Silver (NYSE:PAAS - Get Free Report) TSE: PAAS last issued its quarterly earnings data on Wednesday, August 12th. The basic materials company reported $0.73 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.84 by ($0.11). Pan American Silver had a net margin of 32.04% and a return on equity of 20.01%. The business had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the previous year, the firm earned $0.43 EPS. The company's revenue was up 38.4% on a year-over-year basis. Equities research analysts predict that Pan American Silver will post 3.81 EPS for the current year.

Hedge Funds Weigh In On Pan American Silver

A number of large investors have recently made changes to their positions in PAAS. NFJ Investment Group LLC bought a new position in shares of Pan American Silver during the second quarter valued at approximately $25,000. Fifth Third Bancorp grew its position in Pan American Silver by 1,336.1% in the 1st quarter. Fifth Third Bancorp now owns 517 shares of the basic materials company's stock valued at $28,000 after acquiring an additional 481 shares during the last quarter. Danske Bank A S purchased a new stake in Pan American Silver in the second quarter worth $30,000. Paladin Partners LLC bought a new stake in shares of Pan American Silver during the second quarter worth $40,000. Finally, Archer Investment Corp purchased a new stake in shares of Pan American Silver during the second quarter valued at $43,000. 55.43% of the stock is owned by hedge funds and other institutional investors.

About Pan American Silver

Pan American Silver Corp. is a mining company focused primarily on the exploration, development and production of silver and gold. Its operations also produce byproduct metals, including zinc, lead and copper, depending on the mine and ore deposit.

Founded in 1994 and headquartered in Vancouver, British Columbia, Pan American Silver operates mines and development projects across the Americas. The company's geographic footprint has included Canada, Mexico, Peru, Bolivia, Argentina, Chile and Brazil, giving it exposure to several of the region's major silver and gold mining jurisdictions.

Pan American expanded its portfolio through the acquisition of Yamana Gold's Latin American assets in 2023.

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