Pan American Silver (NYSE:PAAS) Upgraded by National Bank Financial to Strong-Buy Rating

Key Points

• Pan American Silver's stock was upgraded to a "strong-buy" rating by National Bank Financial, reflecting increased confidence from analysts.
• The company reported a quarterly earnings per share of $0.43, surpassing consensus estimates and showing a revenue increase of 18.3% year-over-year.
• Analysts have mixed opinions on the stock, with a consensus rating of "Moderate Buy" and a target price of $32.20.

Pan American Silver (NYSE:PAAS - Get Free Report) TSE: PAAS was upgraded by stock analysts at National Bank Financial to a "strong-buy" rating in a research note issued to investors on Thursday,Zacks.com reports.

Other analysts have also issued reports about the stock. TD Securities lowered their price objective on shares of Pan American Silver from $30.00 to $26.00 and set a "hold" rating for the company in a research note on Thursday, May 22nd. Wall Street Zen lowered shares of Pan American Silver from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 16th. Zacks Research lowered shares of Pan American Silver from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 19th. CIBC reaffirmed an "outperform" rating on shares of Pan American Silver in a research note on Tuesday, July 15th. Finally, Scotiabank reduced their target price on shares of Pan American Silver from $36.50 to $36.00 and set an "outperform" rating for the company in a report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $32.20.

Pan American Silver Stock Up 3.5%

NYSE:PAAS traded up $1.20 during mid-day trading on Thursday, reaching $35.80. The company's stock had a trading volume of 9,239,370 shares, compared to its average volume of 4,408,362. Pan American Silver has a 1 year low of $18.50 and a 1 year high of $36.14. The stock has a fifty day moving average of $30.62 and a 200-day moving average of $27.39. The firm has a market capitalization of $12.95 billion, a PE ratio of 24.69, a price-to-earnings-growth ratio of 0.43 and a beta of 0.64. The company has a quick ratio of 2.11, a current ratio of 3.05 and a debt-to-equity ratio of 0.15.

Pan American Silver (NYSE:PAAS - Get Free Report) TSE: PAAS last released its quarterly earnings data on Wednesday, August 6th. The basic materials company reported $0.43 earnings per share for the quarter, topping analysts' consensus estimates of $0.40 by $0.03. Pan American Silver had a net margin of 16.80% and a return on equity of 11.49%. The company had revenue of $811.90 million during the quarter, compared to analyst estimates of $782.12 million. During the same period in the prior year, the firm earned $0.11 earnings per share. The firm's revenue for the quarter was up 18.3% compared to the same quarter last year. Equities research analysts forecast that Pan American Silver will post 1.26 earnings per share for the current year.

Hedge Funds Weigh In On Pan American Silver

Several hedge funds and other institutional investors have recently modified their holdings of PAAS. Arrowstreet Capital Limited Partnership raised its position in shares of Pan American Silver by 5,674.3% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 6,141,108 shares of the basic materials company's stock valued at $174,406,000 after purchasing an additional 6,034,755 shares during the last quarter. Norges Bank purchased a new position in shares of Pan American Silver in the 2nd quarter valued at approximately $155,281,000. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Pan American Silver by 319.1% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,451,864 shares of the basic materials company's stock valued at $115,009,000 after purchasing an additional 3,389,549 shares during the last quarter. Invesco Ltd. raised its position in shares of Pan American Silver by 49.5% in the 2nd quarter. Invesco Ltd. now owns 9,016,262 shares of the basic materials company's stock valued at $256,062,000 after purchasing an additional 2,986,434 shares during the last quarter. Finally, AGF Management Ltd. purchased a new position in shares of Pan American Silver in the 2nd quarter valued at approximately $59,883,000. 55.43% of the stock is owned by hedge funds and other institutional investors.

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.