Pan American Silver (NYSE:PAAS) Downgraded by Wall Street Zen to Buy

Key Points

• Wall Street Zen downgraded Pan American Silver from “strong-buy” to “buy”, though the overall analyst view remains constructive.
• The stock is still rated Moderate Buy overall, with six Buy ratings and three Hold ratings; the average price target is $59.67.
• Pan American Silver reported Q1 earnings of $1.09 per share, beating estimates, while revenue reached $1.15 billion and rose 49.3% year over year.

Pan American Silver (NYSE:PAAS - Get Free Report) TSE: PAAS was downgraded by equities researchers at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a report issued on Sunday.

Other analysts also recently issued research reports about the company. Jefferies Financial Group lowered their target price on Pan American Silver from $58.00 to $54.00 and set a "hold" rating on the stock in a research note on Wednesday, January 21st. Royal Bank Of Canada reiterated an "outperform" rating and set a $75.00 price target on shares of Pan American Silver in a research report on Tuesday, April 28th. Canadian Imperial Bank of Commerce set a $88.00 price target on Pan American Silver and gave the company an "outperform" rating in a report on Wednesday, February 4th. Zacks Research lowered Pan American Silver from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, April 22nd. Finally, Scotiabank raised their price objective on shares of Pan American Silver from $47.00 to $64.00 and gave the stock an "outperform" rating in a research note on Monday, January 26th. Six analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $59.67.

Pan American Silver Trading Up 2.4%

NYSE PAAS opened at $59.18 on Friday. The company has a market capitalization of $24.94 billion, a PE ratio of 19.03, a P/E/G ratio of 0.49 and a beta of 0.65. The company has a fifty day moving average of $56.47 and a 200 day moving average of $51.68. Pan American Silver has a 1 year low of $22.08 and a 1 year high of $69.99. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.84 and a quick ratio of 1.97.

Pan American Silver (NYSE:PAAS - Get Free Report) TSE: PAAS last announced its quarterly earnings results on Tuesday, May 5th. The basic materials company reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.03. The company had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.25 billion. Pan American Silver had a return on equity of 19.50% and a net margin of 31.66%.The firm's revenue for the quarter was up 49.3% compared to the same quarter last year. During the same period last year, the firm earned $0.42 EPS. Research analysts forecast that Pan American Silver will post 4.45 earnings per share for the current year.

Hedge Funds Weigh In On Pan American Silver

A number of large investors have recently added to or reduced their stakes in PAAS. Knights of Columbus Asset Advisors LLC increased its position in shares of Pan American Silver by 176.9% during the third quarter. Knights of Columbus Asset Advisors LLC now owns 114,780 shares of the basic materials company's stock worth $4,445,000 after purchasing an additional 73,326 shares in the last quarter. J. Safra Sarasin Holding AG lifted its holdings in Pan American Silver by 117.9% in the 3rd quarter. J. Safra Sarasin Holding AG now owns 43,946 shares of the basic materials company's stock valued at $1,702,000 after purchasing an additional 23,780 shares in the last quarter. Hollencrest Capital Management lifted its holdings in Pan American Silver by 214.3% in the 3rd quarter. Hollencrest Capital Management now owns 121,633 shares of the basic materials company's stock valued at $4,711,000 after purchasing an additional 82,932 shares in the last quarter. Campbell & CO Investment Adviser LLC boosted its stake in Pan American Silver by 363.2% during the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 151,801 shares of the basic materials company's stock worth $5,879,000 after purchasing an additional 119,028 shares during the last quarter. Finally, Pinpoint Asset Management Singapore Pte. Ltd. acquired a new stake in Pan American Silver during the 3rd quarter worth $1,074,000. 55.43% of the stock is currently owned by institutional investors and hedge funds.

Pan American Silver Company Profile

Pan American Silver Corp. NYSE: PAAS is a Vancouver-based mining company and one of the world’s largest primary silver producers. The company’s core activities encompass the exploration, development, extraction and processing of silver, with significant by-product production of gold, zinc and lead. Pan American Silver maintains a vertically integrated operating model, covering the full mining value chain from resource discovery through to refined metal production.

With a geographic footprint concentrated across the Americas, Pan American Silver operates multiple mines in Mexico, Peru, Argentina and Bolivia, and is advancing several development and exploration projects in Chile and Ecuador.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.