Pan American Silver (NYSE:PAAS) Stock Price Expected to Rise, CIBC Analyst Says

Key Points

• CIBC has raised its price target for Pan American Silver's stock from $50.00 to $62.00, suggesting a potential upside of 61.61%.
• Analysts' ratings for Pan American Silver vary, with one labeling it a "Strong Buy," five giving it a "Buy," and three assigning a "Hold" rating, leading to an average rating of "Moderate Buy."
• Pan American Silver reported better-than-expected quarterly earnings, with $0.43 EPS and revenue of $811.90 million, surpassing the consensus estimates.

Pan American Silver (NYSE:PAAS - Get Free Report) TSE: PAAS had its price objective hoisted by CIBC from $50.00 to $62.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has an "outperformer" rating on the basic materials company's stock. CIBC's target price would suggest a potential upside of 61.61% from the company's previous close.

Several other analysts also recently issued reports on the stock. National Bank Financial raised shares of Pan American Silver to a "strong-buy" rating in a report on Thursday, September 4th. National Bankshares reaffirmed an "outperform" rating on shares of Pan American Silver in a report on Friday, September 5th. Wall Street Zen raised shares of Pan American Silver from a "buy" rating to a "strong-buy" rating in a report on Friday, October 3rd. Zacks Research lowered shares of Pan American Silver from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 19th. Finally, Weiss Ratings reissued a "buy (b-)" rating on shares of Pan American Silver in a report on Saturday, September 27th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, Pan American Silver has an average rating of "Moderate Buy" and a consensus target price of $38.50.

Pan American Silver Price Performance

Shares of PAAS stock traded down $0.19 during mid-day trading on Friday, hitting $38.36. 5,651,835 shares of the stock were exchanged, compared to its average volume of 4,944,539. The company has a market cap of $16.19 billion, a PE ratio of 26.47, a price-to-earnings-growth ratio of 0.63 and a beta of 0.63. Pan American Silver has a 52-week low of $19.80 and a 52-week high of $40.84. The firm has a fifty day moving average of $34.62 and a 200 day moving average of $29.36. 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 posted its quarterly earnings results on Wednesday, August 6th. The basic materials company reported $0.43 EPS for the quarter, topping the consensus estimate 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 business had revenue of $811.90 million during the quarter, compared to the consensus estimate of $782.12 million. During the same quarter in the previous year, the firm posted $0.11 earnings per share. The company's quarterly revenue was up 18.3% compared to the same quarter last year. Research analysts anticipate that Pan American Silver will post 1.26 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Voya Investment Management LLC boosted its position in Pan American Silver by 17.2% during the 3rd quarter. Voya Investment Management LLC now owns 9,764 shares of the basic materials company's stock worth $378,000 after acquiring an additional 1,431 shares during the last quarter. Dakota Community Bank & Trust NA acquired a new stake in shares of Pan American Silver during the 3rd quarter worth approximately $66,000. Hedges Asset Management LLC bought a new position in Pan American Silver in the third quarter valued at about $1,857,000. OLD Point Trust & Financial Services N A bought a new position in Pan American Silver in the third quarter valued at about $813,000. Finally, Osaic Holdings Inc. grew its position in Pan American Silver by 299.4% in the second quarter. Osaic Holdings Inc. now owns 144,087 shares of the basic materials company's stock valued at $4,092,000 after acquiring an additional 108,012 shares during the last quarter. Institutional investors and hedge funds own 55.43% of the company's stock.

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.

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