TD Securities Upgrades Pan American Silver (NYSE:PAAS) to "Buy"

Key Points

• TD Securities upgraded Pan American Silver from hold to buy and set a $72 price target, implying about 21.7% upside from the current share price.
• The broader analyst view remains constructive, with seven Buy ratings and two Hold ratings, giving the stock a Moderate Buy consensus and an average target price of $67.33.
• Pan American Silver’s latest results beat earnings expectations, reporting $1.09 EPS versus the $1.06 estimate, while revenue rose 49.3% year over year to $1.15 billion.

Pan American Silver (NYSE:PAAS - Get Free Report) TSE: PAAS was upgraded by equities researchers at TD Securities from a "hold" rating to a "buy" rating in a research note issued on Monday, Marketbeat reports. The brokerage presently has a $72.00 target price on the basic materials company's stock. TD Securities' price objective would suggest a potential upside of 21.66% from the stock's current price.

Several other research analysts have also recently weighed in on PAAS. Wall Street Zen cut Pan American Silver from a "strong-buy" rating to a "buy" rating in a research report on Sunday. Jefferies Financial Group reduced their price target on Pan American Silver from $58.00 to $54.00 and set a "hold" rating for the company in a research report on Wednesday, January 21st. Zacks Research cut Pan American Silver from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, April 22nd. Scotiabank increased their price target on Pan American Silver from $47.00 to $64.00 and gave the company an "outperform" rating in a research report on Monday, January 26th. Finally, Royal Bank Of Canada reissued an "outperform" rating and set a $75.00 price target on shares of Pan American Silver in a research report on Tuesday, April 28th. Seven equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $67.33.

Pan American Silver Stock Up 0.1%

PAAS stock opened at $59.18 on Monday. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.84 and a quick ratio of 2.11. The stock has a market capitalization of $24.94 billion, a P/E ratio of 19.03, a P/E/G ratio of 0.49 and a beta of 0.65. The business has a 50-day moving average of $56.47 and a 200-day moving average of $51.68. Pan American Silver has a fifty-two week low of $22.08 and a fifty-two week high of $69.99.

Pan American Silver (NYSE:PAAS - Get Free Report) TSE: PAAS last posted its quarterly earnings data 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 during the quarter, compared to analysts' expectations of $1.25 billion. Pan American Silver had a return on equity of 19.50% and a net margin of 31.66%.Pan American Silver's revenue for the quarter was up 49.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.42 earnings per share. On average, sell-side analysts anticipate that Pan American Silver will post 4.45 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Pan American Silver

A number of hedge funds have recently added to or reduced their stakes in PAAS. Van ECK Associates Corp increased its stake in Pan American Silver by 51.8% during the 3rd quarter. Van ECK Associates Corp now owns 45,142,060 shares of the basic materials company's stock worth $1,748,355,000 after acquiring an additional 15,405,762 shares during the period. Norges Bank bought a new position in shares of Pan American Silver in the 4th quarter valued at $303,611,000. First Eagle Investment Management LLC bought a new position in shares of Pan American Silver in the 3rd quarter valued at $178,004,000. FIL Ltd increased its stake in shares of Pan American Silver by 154.7% in the 4th quarter. FIL Ltd now owns 7,307,777 shares of the basic materials company's stock valued at $378,872,000 after purchasing an additional 4,438,478 shares during the last quarter. Finally, Capital International Investors bought a new position in shares of Pan American Silver in the 4th quarter valued at $215,484,000. Institutional investors own 55.43% of the company's stock.

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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