Canaccord Genuity Group Upgrades Pan American Silver (NASDAQ:PAAS) to “Buy”

Pan American Silver (NASDAQ:PAASGet Rating) (TSE:PAAS) was upgraded by equities research analysts at Canaccord Genuity Group from a “hold” rating to a “buy” rating in a research report issued on Thursday, The Fly reports. The brokerage presently has a $30.00 price objective on the basic materials company’s stock. Canaccord Genuity Group’s target price would indicate a potential upside of 41.51% from the company’s current price.

A number of other analysts have also commented on the stock. StockNews.com started coverage on shares of Pan American Silver in a report on Thursday, March 31st. They set a “hold” rating for the company. Zacks Investment Research raised shares of Pan American Silver from a “hold” rating to a “buy” rating and set a $27.00 price objective on the stock in a research report on Wednesday, May 4th. National Bank Financial lifted their price target on shares of Pan American Silver from C$41.00 to C$47.00 in a research note on Wednesday, April 20th. TD Securities lowered their price target on shares of Pan American Silver from $36.00 to $30.00 and set a “buy” rating on the stock in a research note on Friday, February 25th. Finally, TheStreet upgraded shares of Pan American Silver from a “c+” rating to a “b-” rating in a research note on Friday, March 25th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $36.13.

PAAS traded down $0.74 during midday trading on Thursday, reaching $21.20. 106,754 shares of the company’s stock were exchanged, compared to its average volume of 2,617,817. The firm has a market capitalization of $4.46 billion, a price-to-earnings ratio of 46.80, a price-to-earnings-growth ratio of 5.26 and a beta of 1.25. The company has a quick ratio of 1.29, a current ratio of 2.58 and a debt-to-equity ratio of 0.01. Pan American Silver has a one year low of $20.74 and a one year high of $35.15. The business has a 50-day simple moving average of $26.89 and a two-hundred day simple moving average of $25.30.

Pan American Silver (NASDAQ:PAASGet Rating) (TSE:PAAS) last posted its quarterly earnings data on Wednesday, May 11th. The basic materials company reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.07). Pan American Silver had a return on equity of 6.16% and a net margin of 5.98%. During the same quarter last year, the business posted $0.18 EPS. As a group, research analysts anticipate that Pan American Silver will post 1.02 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Prospera Financial Services Inc acquired a new position in Pan American Silver in the 1st quarter valued at approximately $25,000. Evoke Wealth LLC increased its position in Pan American Silver by 90.4% in the 4th quarter. Evoke Wealth LLC now owns 990 shares of the basic materials company’s stock valued at $25,000 after acquiring an additional 470 shares during the period. Geneos Wealth Management Inc. increased its position in Pan American Silver by 284.9% in the 3rd quarter. Geneos Wealth Management Inc. now owns 1,351 shares of the basic materials company’s stock valued at $31,000 after acquiring an additional 1,000 shares during the period. Destiny Wealth Partners LLC acquired a new position in Pan American Silver in the 1st quarter valued at approximately $41,000. Finally, Rational Advisors LLC increased its position in shares of Pan American Silver by 63.8% during the first quarter. Rational Advisors LLC now owns 1,530 shares of the basic materials company’s stock worth $42,000 after buying an additional 596 shares during the period. Hedge funds and other institutional investors own 44.25% of the company’s stock.

Pan American Silver Company Profile (Get Rating)

Pan American Silver Corp., together with its subsidiaries, engages in the exploration, mine development, extraction, processing, refining, and reclamation of silver, gold, zinc, lead, and copper mines in Canada, Mexico, Peru, Argentina, and Bolivia. It holds interests in the La Colorada, Dolores, Huaron, Morococha, Shahuindo, La Arena, Timmins West, Bell Creek, Manantial Espejo, San Vicente, Joaquin, Cap-Oeste Sur Este, and Navidad mines.

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