Pan American Silver (NYSE:PAAS) Upgraded at Zacks Research

Key Points

• Zacks Research upgraded Pan American Silver from “strong sell” to “hold,” while the broader analyst consensus remains “Moderate Buy” with an average price target of $70.43.
• PAAS shares rose 8.0% to open at $50.33, below the consensus target and within a 52-week range of $30.68 to $69.99.
• Pan American Silver’s latest quarter showed 38.4% year-over-year revenue growth to $1.12 billion, though EPS of $0.73 and revenue both fell short of analyst estimates; institutional investors own 55.43% of the stock.

Pan American Silver (NYSE:PAAS - Get Free Report) TSE: PAAS was upgraded by equities research analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a report issued on Tuesday,Zacks.com reports.

Several other analysts have also recently commented on PAAS. TD Cowen raised shares of Pan American Silver from a "hold" rating to a "buy" rating and lifted their target price for the stock from $67.00 to $72.00 in a research note on Tuesday, May 12th. Wall Street Zen cut Pan American Silver from a "buy" rating to a "hold" rating in a report on Saturday, August 15th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $75.00 price objective on shares of Pan American Silver in a research report on Tuesday, April 28th. Scotiabank restated an "outperform" rating on shares of Pan American Silver in a report on Tuesday, July 14th. Finally, Weiss Ratings lowered shares of Pan American Silver from a "buy (b)" rating to a "buy (b-)" rating in a report on Thursday, July 16th. Eight research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Pan American Silver currently has a consensus rating of "Moderate Buy" and a consensus target price of $70.43.

Pan American Silver Trading Up 8.0%

NYSE:PAAS opened at $50.33 on Tuesday. The company has a market capitalization of $20.99 billion, a PE ratio of 15.21, a price-to-earnings-growth ratio of 4.26 and a beta of 0.73. Pan American Silver has a 52-week low of $30.68 and a 52-week high of $69.99. The stock has a fifty day simple moving average of $46.11 and a 200-day simple moving average of $52.76. The company has a quick ratio of 2.23, a current ratio of 2.94 and a debt-to-equity ratio of 0.11.

Pan American Silver (NYSE:PAAS - Get Free Report) TSE: PAAS last posted its earnings results on Wednesday, August 12th. The basic materials company reported $0.73 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.84 by ($0.11). Pan American Silver had a net margin of 32.04% and a return on equity of 20.01%. The company had revenue of $1.12 billion during the quarter, compared to analysts' expectations of $1.16 billion. During the same period in the previous year, the company posted $0.43 EPS. Pan American Silver's quarterly revenue was up 38.4% compared to the same quarter last year. On average, equities research analysts expect that Pan American Silver will post 4.09 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Pan American Silver

Hedge funds and other institutional investors have recently modified their holdings of the company. AQR Capital Management LLC grew its holdings in shares of Pan American Silver by 48.6% during the 1st quarter. AQR Capital Management LLC now owns 19,529 shares of the basic materials company's stock worth $504,000 after purchasing an additional 6,391 shares during the period. Jones Financial Companies Lllp raised its holdings in Pan American Silver by 574.9% in the first quarter. Jones Financial Companies Lllp now owns 19,518 shares of the basic materials company's stock valued at $504,000 after buying an additional 16,626 shares during the period. Goldman Sachs Group Inc. raised its holdings in Pan American Silver by 31.6% in the first quarter. Goldman Sachs Group Inc. now owns 1,499,343 shares of the basic materials company's stock valued at $38,728,000 after buying an additional 360,283 shares during the period. Empowered Funds LLC purchased a new position in Pan American Silver in the first quarter valued at approximately $1,272,000. Finally, Northwestern Mutual Wealth Management Co. lifted its position in Pan American Silver by 53.6% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,703 shares of the basic materials company's stock valued at $48,000 after buying an additional 594 shares in the last quarter. 55.43% of the stock is owned by institutional investors and hedge funds.

About Pan American Silver

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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