Pan American Silver (NASDAQ:PAAS) Lowered to Hold at Zacks Investment Research

Pan American Silver (NASDAQ:PAASGet Rating) (TSE:PAAS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday, Zacks.com reports.

According to Zacks, “PAN AMER SILVER is a mining company focused exclusively on silver. Pan American Silver Corp. is founded upon a single mission, to become the best vehicle for equity investors wanting to gain real exposure to higher silver prices. To accomplish this they are striving to increase their low-cost silver production, to have the most successful silver exploration programs, to hold the largest silver reserves and resources, and to be the purest of the world’s large silver producers. “

Other equities analysts have also issued reports about the stock. StockNews.com started coverage on shares of Pan American Silver in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Canaccord Genuity Group raised Pan American Silver from a “hold” rating to a “buy” rating and set a $30.00 price objective for the company in a report on Thursday, May 12th. BMO Capital Markets decreased their price objective on Pan American Silver from $32.00 to $29.00 in a report on Thursday, January 20th. TD Securities decreased their price objective on Pan American Silver from $36.00 to $30.00 and set a “buy” rating for the company in a report on Friday, May 13th. Finally, Canaccord Genuity Group raised Pan American Silver from a “hold” rating to a “buy” rating and set a $30.00 price objective for the company in a report on Thursday, May 12th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $34.43.

Shares of Pan American Silver stock opened at $22.60 on Friday. The firm has a market capitalization of $4.76 billion, a P/E ratio of 26.28, a P/E/G ratio of 3.03 and a beta of 1.25. Pan American Silver has a 52 week low of $20.59 and a 52 week high of $34.70. The company has a quick ratio of 1.41, a current ratio of 2.71 and a debt-to-equity ratio of 0.01. The firm’s 50 day moving average is $26.35 and its two-hundred day moving average is $25.14.

Pan American Silver (NASDAQ:PAASGet Rating) (TSE:PAAS) last announced its quarterly earnings results on Wednesday, May 11th. The basic materials company reported $0.15 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.07). Pan American Silver had a net margin of 10.70% and a return on equity of 5.90%. During the same quarter in the previous year, the business earned $0.18 earnings per share. As a group, research analysts expect that Pan American Silver will post 1.02 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Gabelli Funds LLC lifted its holdings in shares of Pan American Silver by 35.4% during the first quarter. Gabelli Funds LLC now owns 172,200 shares of the basic materials company’s stock worth $4,701,000 after purchasing an additional 45,000 shares during the period. Virtu Financial LLC acquired a new stake in Pan American Silver in the first quarter valued at $202,000. Advisors Asset Management Inc. lifted its holdings in Pan American Silver by 16.5% in the first quarter. Advisors Asset Management Inc. now owns 65,469 shares of the basic materials company’s stock valued at $1,787,000 after acquiring an additional 9,255 shares during the period. Evergreen Capital Management LLC lifted its holdings in Pan American Silver by 4.6% in the first quarter. Evergreen Capital Management LLC now owns 111,313 shares of the basic materials company’s stock valued at $3,039,000 after acquiring an additional 4,872 shares during the period. Finally, First Manhattan Co. lifted its holdings in Pan American Silver by 2.6% in the first quarter. First Manhattan Co. now owns 245,551 shares of the basic materials company’s stock valued at $6,703,000 after acquiring an additional 6,300 shares during the period. 44.25% of the stock is owned by hedge funds and other institutional investors.

About Pan American Silver (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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