Bank of America Issues Positive Forecast for Pan American Silver (NYSE:PAAS) Stock Price

Key Points

• Bank of America raised its price target on Pan American Silver to $51 (from $46) and kept a "buy" rating, implying roughly a 10.2% upside from current levels.
• The stock trades around $46.27—near its 52-week high of $46.60—with a market cap of about $19.5B, and analysts' consensus remains a "Buy" though the average target across firms is $43.20.
• Pan American missed quarterly EPS by $0.01 and revenue was slightly below expectations, but revenue grew 19.3% year-over-year and institutional investors hold roughly 55% of the shares.

Pan American Silver (NYSE:PAAS - Get Free Report) TSE: PAAS had its price target increased by analysts at Bank of America from $46.00 to $51.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has a "buy" rating on the basic materials company's stock. Bank of America's target price indicates a potential upside of 10.22% from the company's current price.

A number of other equities analysts also recently commented on the company. Zacks Research raised Pan American Silver from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, November 25th. National Bank Financial upgraded shares of Pan American Silver to a "strong-buy" rating in a report on Thursday, September 4th. CIBC lifted their price objective on shares of Pan American Silver from $50.00 to $62.00 and gave the stock an "outperformer" rating in a research report on Friday, October 10th. Wall Street Zen lowered Pan American Silver from a "strong-buy" rating to a "buy" rating in a report on Saturday, November 15th. Finally, National Bankshares reaffirmed an "outperform" rating on shares of Pan American Silver in a research report on Friday, September 5th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $43.20.

Pan American Silver Stock Up 1.3%

Shares of PAAS traded up $0.60 during mid-day trading on Monday, hitting $46.27. 4,654,002 shares of the company's stock were exchanged, compared to its average volume of 5,100,861. The stock's 50-day moving average is $37.94 and its 200-day moving average is $32.65. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.11 and a current ratio of 3.05. Pan American Silver has a fifty-two week low of $19.80 and a fifty-two week high of $46.60. The company has a market cap of $19.53 billion, a price-to-earnings ratio of 31.82, a P/E/G ratio of 0.44 and a beta of 0.63.

Pan American Silver (NYSE:PAAS - Get Free Report) TSE: PAAS last issued its quarterly earnings results on Wednesday, November 12th. The basic materials company reported $0.48 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.01). The business had revenue of $854.60 million during the quarter, compared to analysts' expectations of $867.76 million. Pan American Silver had a net margin of 16.80% and a return on equity of 11.49%. The business's quarterly revenue was up 19.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.32 EPS. On average, sell-side analysts anticipate that Pan American Silver will post 1.26 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Pan American Silver

Hedge funds have recently modified their holdings of the stock. XTX Topco Ltd raised its position in Pan American Silver by 123.9% during the 2nd quarter. XTX Topco Ltd now owns 52,331 shares of the basic materials company's stock worth $1,486,000 after buying an additional 28,963 shares during the last quarter. Vontobel Holding Ltd. acquired a new position in shares of Pan American Silver during the second quarter worth about $2,521,000. Intech Investment Management LLC increased its stake in shares of Pan American Silver by 189.0% during the first quarter. Intech Investment Management LLC now owns 107,952 shares of the basic materials company's stock worth $2,788,000 after acquiring an additional 70,593 shares during the period. Triasima Portfolio Management inc. raised its holdings in Pan American Silver by 29.1% during the second quarter. Triasima Portfolio Management inc. now owns 211,010 shares of the basic materials company's stock worth $5,975,000 after purchasing an additional 47,500 shares in the last quarter. Finally, Oxbow Advisors LLC boosted its holdings in Pan American Silver by 34.3% in the 2nd quarter. Oxbow Advisors LLC now owns 449,985 shares of the basic materials company's stock valued at $12,780,000 after purchasing an additional 114,875 shares in the last quarter. 55.43% of the stock is owned by institutional investors and hedge funds.

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.

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