Pan American Silver (NYSE:PAAS) PT Raised to $23.00 at Scotiabank

Pan American Silver (NYSE:PAAS) (TSE:PAAS) had its target price lifted by equities researchers at Scotiabank from $20.00 to $23.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm presently has a “sector outperform” rating on the basic materials company’s stock. Scotiabank’s price objective points to a potential upside of 10.42% from the stock’s current price.

PAAS has been the subject of several other reports. Jefferies Financial Group increased their target price on shares of Pan American Silver from $14.00 to $17.00 and gave the company a “hold” rating in a research note on Monday, April 22nd. BMO Capital Markets increased their target price on shares of Pan American Silver from $22.00 to $24.00 in a research note on Tuesday. StockNews.com raised shares of Pan American Silver from a “sell” rating to a “hold” rating in a research note on Saturday, May 11th. TD Securities cut their target price on shares of Pan American Silver from $18.50 to $17.50 and set a “buy” rating for the company in a research note on Friday, February 23rd. Finally, CIBC boosted their price target on shares of Pan American Silver from $27.50 to $30.00 and gave the company an “outperform” rating in a report on Wednesday. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Pan American Silver currently has a consensus rating of “Moderate Buy” and an average target price of $22.25.

Pan American Silver Price Performance

Shares of NYSE:PAAS traded down $0.50 during trading on Thursday, reaching $20.83. The company had a trading volume of 4,004,513 shares, compared to its average volume of 4,537,560. The firm’s fifty day moving average is $17.93 and its 200 day moving average is $15.63. The firm has a market capitalization of $7.56 billion, a PE ratio of -45.30, a price-to-earnings-growth ratio of 2.82 and a beta of 1.36. Pan American Silver has a twelve month low of $12.16 and a twelve month high of $22.68. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.92 and a current ratio of 2.11.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last issued its quarterly earnings results on Wednesday, May 8th. The basic materials company reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.07. The company had revenue of $601.40 million during the quarter, compared to analyst estimates of $592.58 million. Pan American Silver had a negative net margin of 6.68% and a positive return on equity of 0.13%. The business’s revenue for the quarter was up 54.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.10 EPS. On average, equities analysts forecast that Pan American Silver will post 0.41 EPS for the current year.

Institutional Trading of Pan American Silver

Institutional investors and hedge funds have recently made changes to their positions in the stock. Optiver Holding B.V. lifted its position in shares of Pan American Silver by 90.8% in the third quarter. Optiver Holding B.V. now owns 1,706 shares of the basic materials company’s stock worth $25,000 after buying an additional 812 shares during the last quarter. Perritt Capital Management Inc. lifted its position in shares of Pan American Silver by 76.9% in the first quarter. Perritt Capital Management Inc. now owns 2,300 shares of the basic materials company’s stock worth $35,000 after buying an additional 1,000 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in shares of Pan American Silver in the third quarter worth about $46,000. CVA Family Office LLC acquired a new stake in shares of Pan American Silver in the fourth quarter worth about $46,000. Finally, Parkside Financial Bank & Trust lifted its position in shares of Pan American Silver by 455.9% in the fourth quarter. Parkside Financial Bank & Trust now owns 3,658 shares of the basic materials company’s stock worth $60,000 after buying an additional 3,000 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.