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

Key Points

• Wall Street Zen downgraded Pan American Silver to “Hold” from “Buy,” although the broader analyst consensus remains “Moderate Buy” with an average price target of $70.43.
• Pan American Silver’s latest quarter missed expectations, reporting $0.73 in EPS versus $0.84 estimated and revenue of $1.12 billion versus $1.16 billion forecast; nevertheless, revenue increased 38.4% year over year.
• The stock opened at $47.41, up 0.2%, with a market capitalization of $19.77 billion. Institutional investors and hedge funds own approximately 55.43% of the company.

Pan American Silver (NYSE:PAAS - Get Free Report) TSE: PAAS was downgraded by stock analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued on Saturday.

Other analysts have also issued research reports about the stock. TD Securities upgraded shares of Pan American Silver from a "hold" rating to a "buy" rating and set a $72.00 price target on the stock in a research report on Monday, May 11th. Weiss Ratings downgraded shares of Pan American Silver from a "buy (b)" rating to a "buy (b-)" rating in a research report on Thursday, July 16th. Zacks Research cut Pan American Silver from a "hold" rating to a "strong sell" rating in a research note on Friday, July 17th. Jefferies Financial Group reduced their target price on Pan American Silver from $54.00 to $53.00 and set a "hold" rating on the stock in a report on Monday, July 6th. Finally, Royal Bank Of Canada reiterated an "outperform" rating and issued a $75.00 price target on shares of Pan American Silver in a research note on Tuesday, April 28th. Eight analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $70.43.

Pan American Silver Trading Up 0.2%

Shares of Pan American Silver stock opened at $47.41 on Friday. The company has a quick ratio of 2.11, a current ratio of 2.84 and a debt-to-equity ratio of 0.11. Pan American Silver has a 12-month low of $30.59 and a 12-month high of $69.99. The company has a market capitalization of $19.77 billion, a price-to-earnings ratio of 14.32, a PEG ratio of 4.09 and a beta of 0.73. The firm's 50-day moving average price is $45.95 and its two-hundred day moving average price is $53.19.

Pan American Silver (NYSE:PAAS - Get Free Report) TSE: PAAS last issued its earnings results on Wednesday, August 12th. The basic materials company reported $0.73 EPS for the quarter, missing the consensus estimate of $0.84 by ($0.11). Pan American Silver had a net margin of 32.04% and a return on equity of 20.28%. The firm had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same quarter in the previous year, the firm posted $0.43 earnings per share. Pan American Silver's quarterly revenue was up 38.4% compared to the same quarter last year. On average, analysts forecast that Pan American Silver will post 4.11 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Pan American Silver

A number of institutional investors have recently added to or reduced their stakes in PAAS. Fifth Third Bancorp lifted its stake in Pan American Silver by 1,336.1% in the 1st quarter. Fifth Third Bancorp now owns 517 shares of the basic materials company's stock valued at $28,000 after purchasing an additional 481 shares during the last quarter. NFJ Investment Group LLC bought a new stake in shares of Pan American Silver during the second quarter worth $25,000. Parallel Advisors LLC grew its stake in shares of Pan American Silver by 151.8% during the third quarter. Parallel Advisors LLC now owns 642 shares of the basic materials company's stock worth $25,000 after buying an additional 387 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in shares of Pan American Silver during the fourth quarter worth $34,000. Finally, Danske Bank A S acquired a new position in shares of Pan American Silver during the second quarter worth $30,000. 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.

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