CIBC Issues Positive Forecast for Pan American Silver (NYSE:PAAS) Stock Price

Pan American Silver (NYSE:PAAS - Get Free Report) TSE: PAAS had its price target lifted by equities research analysts at CIBC from $39.00 to $46.00 in a report released on Tuesday,Benzinga reports. The firm currently has an "outperformer" rating on the basic materials company's stock. CIBC's target price would suggest a potential upside of 54.91% from the stock's previous close.

PAAS has been the topic of a number of other reports. Wall Street Zen upgraded Pan American Silver from a "buy" rating to a "strong-buy" rating in a research report on Thursday, May 15th. National Bankshares reiterated an "outperform" rating on shares of Pan American Silver in a report on Wednesday, April 2nd. Scotiabank restated a "sector perform" rating on shares of Pan American Silver in a research note on Monday, April 14th. TD Securities decreased their target price on Pan American Silver from $30.00 to $26.00 and set a "hold" rating for the company in a research report on Thursday, May 22nd. Finally, BMO Capital Markets began coverage on Pan American Silver in a research note on Wednesday, April 16th. They set a "market perform" rating on the stock. Four investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $31.40.

Pan American Silver Price Performance

PAAS traded down $0.06 during trading on Tuesday, reaching $29.70. 5,037,509 shares of the company traded hands, compared to its average volume of 3,999,196. The firm has a fifty day simple moving average of $26.79 and a 200 day simple moving average of $25.01. Pan American Silver has a 12-month low of $17.86 and a 12-month high of $31.03. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.94 and a current ratio of 2.93. The company has a market cap of $10.75 billion, a P/E ratio of 34.13, a PEG ratio of 0.53 and a beta of 0.67.

Pan American Silver (NYSE:PAAS - Get Free Report) TSE: PAAS last announced its earnings results on Wednesday, May 7th. The basic materials company reported $0.42 EPS for the quarter, topping analysts' consensus estimates of $0.19 by $0.23. Pan American Silver had a net margin of 10.45% and a return on equity of 9.25%. The business had revenue of $773.20 million during the quarter, compared to the consensus estimate of $696.62 million. During the same period in the previous year, the company posted $0.01 earnings per share. The firm's revenue was up 28.6% on a year-over-year basis. On average, equities analysts forecast that Pan American Silver will post 1.26 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Sheets Smith Wealth Management purchased a new stake in Pan American Silver during the 2nd quarter valued at $703,000. Counterpoint Mutual Funds LLC bought a new stake in shares of Pan American Silver in the second quarter worth about $736,000. Sowell Financial Services LLC increased its holdings in shares of Pan American Silver by 3.6% in the second quarter. Sowell Financial Services LLC now owns 31,501 shares of the basic materials company's stock worth $895,000 after purchasing an additional 1,101 shares during the last quarter. Farther Finance Advisors LLC grew its position in Pan American Silver by 38.0% in the second quarter. Farther Finance Advisors LLC now owns 3,754 shares of the basic materials company's stock worth $107,000 after acquiring an additional 1,034 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its position in Pan American Silver by 61.0% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 44,140 shares of the basic materials company's stock worth $1,289,000 after acquiring an additional 16,723 shares in the last quarter. 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.

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