Pan American Silver (NYSE:PAAS) Price Target Raised to $20.00

Pan American Silver (NYSE:PAAS - Get Free Report) TSE: PAAS had its price objective boosted by equities research analysts at Scotiabank from $19.50 to $20.00 in a note issued to investors on Monday, Benzinga reports. The brokerage currently has a "sector outperform" rating on the basic materials company's stock. Scotiabank's price objective would suggest a potential upside of 10.68% from the stock's current price.

PAAS has been the subject of several other reports. StockNews.com downgraded Pan American Silver from a "hold" rating to a "sell" rating in a report on Monday, January 15th. TD Securities cut their target price on shares of Pan American Silver from $18.50 to $17.50 and set a "buy" rating on the stock in a research note on Friday, February 23rd. BMO Capital Markets cut their target price on shares of Pan American Silver from $27.00 to $22.00 and set an "outperform" rating on the stock in a research note on Thursday, January 18th. Jefferies Financial Group initiated coverage on shares of Pan American Silver in a research note on Thursday, February 29th. They set a "hold" rating and a $14.00 price objective on the stock. Finally, CIBC decreased their target price on shares of Pan American Silver from $28.00 to $27.50 and set an "outperform" rating for the company in a research report on Wednesday, February 7th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $20.50.

Pan American Silver Stock Performance

PAAS traded up $0.54 during trading on Monday, reaching $18.07. The company's stock had a trading volume of 8,900,652 shares, compared to its average volume of 3,902,765. Pan American Silver has a 52-week low of $12.16 and a 52-week high of $19.84. The company's fifty day moving average price is $13.86 and its 200-day moving average price is $14.53. The company has a market capitalization of $6.59 billion, a price-to-earnings ratio of -60.23, a price-to-earnings-growth ratio of 1.21 and a beta of 1.44. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.09 and a current ratio of 2.23.

Pan American Silver (NYSE:PAAS - Get Free Report) TSE: PAAS last posted its quarterly earnings results on Thursday, February 22nd. The basic materials company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.08 by ($0.12). Pan American Silver had a negative net margin of 5.24% and a positive return on equity of 0.44%. The company had revenue of $669.60 million for the quarter, compared to analyst estimates of $657.65 million. During the same quarter in the previous year, the business posted ($0.02) earnings per share. On average, equities analysts forecast that Pan American Silver will post 0.38 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Pan American Silver

A number of institutional investors and hedge funds have recently modified their holdings of PAAS. Bank of New York Mellon Corp boosted its holdings in Pan American Silver by 2.5% during the first quarter. Bank of New York Mellon Corp now owns 224,029 shares of the basic materials company's stock worth $6,115,000 after purchasing an additional 5,501 shares during the last quarter. PNC Financial Services Group Inc. increased its position in Pan American Silver by 32.8% during the first quarter. PNC Financial Services Group Inc. now owns 11,465 shares of the basic materials company's stock worth $312,000 after acquiring an additional 2,830 shares during the period. BlackRock Inc. increased its position in Pan American Silver by 2.5% during the first quarter. BlackRock Inc. now owns 122,288 shares of the basic materials company's stock worth $3,339,000 after acquiring an additional 2,987 shares during the period. U.S. Capital Wealth Advisors LLC bought a new position in Pan American Silver during the first quarter worth about $207,000. Finally, Dimensional Fund Advisors LP increased its holdings in Pan American Silver by 18.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,248,440 shares of the basic materials company's stock valued at $34,084,000 after buying an additional 190,839 shares during the period. 55.43% of the stock is owned by institutional investors.

Pan American Silver Company Profile

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.