CIBC Increases Pan American Silver (NYSE:PAAS) Price Target to $30.00

Pan American Silver (NYSE:PAAS - Get Free Report) TSE: PAAS had its target price upped by research analysts at CIBC from $27.50 to $30.00 in a research note issued on Wednesday, Marketbeat Ratings reports. The brokerage presently has an "outperform" rating on the basic materials company's stock. CIBC's target price points to a potential upside of 40.65% from the stock's previous close.

Several other equities analysts have also recently commented on PAAS. StockNews.com raised shares of Pan American Silver from a "sell" rating to a "hold" rating in a research report on Saturday, May 11th. Scotiabank increased their price target on shares of Pan American Silver from $19.50 to $20.00 and gave the stock a "sector outperform" rating in a research report on Monday, April 8th. 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 report on Friday, February 23rd. BMO Capital Markets raised their target price on shares of Pan American Silver from $22.00 to $24.00 in a report on Tuesday. Finally, Jefferies Financial Group raised their target price on shares of Pan American Silver from $14.00 to $17.00 and gave the stock a "hold" rating in a report on Monday, April 22nd. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, Pan American Silver has a consensus rating of "Moderate Buy" and an average target price of $21.75.

Pan American Silver Stock Down 4.0 %

Shares of Pan American Silver stock traded down $0.89 during trading hours on Wednesday, hitting $21.33. 7,043,785 shares of the company's stock traded hands, compared to its average volume of 4,544,762. The stock has a 50 day simple moving average of $17.79 and a 200-day simple moving average of $15.59. The company has a quick ratio of 0.92, a current ratio of 2.11 and a debt-to-equity ratio of 0.16. The company has a market cap of $7.74 billion, a PE ratio of -46.54, a PEG ratio of 2.85 and a beta of 1.36. Pan American Silver has a twelve month low of $12.16 and a twelve month high of $22.68.

Pan American Silver (NYSE:PAAS - Get Free Report) TSE: PAAS last announced its earnings results on Wednesday, May 8th. The basic materials company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.07. The company had revenue of $601.40 million during the quarter, compared to the consensus estimate of $592.58 million. Pan American Silver had a positive return on equity of 0.13% and a negative net margin of 6.68%. The company's revenue was up 54.1% on a year-over-year basis. During the same period last year, the firm earned $0.10 earnings per share. Equities research analysts anticipate that Pan American Silver will post 0.41 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in PAAS. Van ECK Associates Corp increased its stake in shares of Pan American Silver by 11.8% during the fourth quarter. Van ECK Associates Corp now owns 45,833,375 shares of the basic materials company's stock valued at $748,460,000 after acquiring an additional 4,842,547 shares during the period. Norges Bank acquired a new position in Pan American Silver in the fourth quarter worth approximately $63,066,000. Tidal Investments LLC grew its position in Pan American Silver by 15,618.3% in the first quarter. Tidal Investments LLC now owns 3,803,507 shares of the basic materials company's stock worth $57,340,000 after buying an additional 3,779,309 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in Pan American Silver by 71.3% in the fourth quarter. The Manufacturers Life Insurance Company now owns 1,889,808 shares of the basic materials company's stock worth $30,899,000 after buying an additional 786,525 shares during the last quarter. Finally, American Century Companies Inc. grew its position in Pan American Silver by 104.5% in the third quarter. American Century Companies Inc. now owns 1,207,185 shares of the basic materials company's stock worth $17,479,000 after buying an additional 616,804 shares during the last quarter. Institutional investors and hedge funds own 55.43% of the company's stock.

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.