StockNews.com Upgrades Pan American Silver (NYSE:PAAS) to “Hold”

Pan American Silver (NYSE:PAAS) (TSE:PAAS) was upgraded by equities research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Wednesday.

A number of other equities analysts have also weighed in on the stock. Jefferies Financial Group lifted their price objective on shares of Pan American Silver from $14.00 to $17.00 and gave the company a “hold” rating in a research report on Monday, April 22nd. BMO Capital Markets lowered their price objective on shares of Pan American Silver from $27.00 to $22.00 and set an “outperform” rating on the stock in a research report on Thursday, January 18th. Scotiabank lifted their price objective on shares of Pan American Silver from $19.50 to $20.00 and gave the company a “sector outperform” rating in a research report on Monday, April 8th. CIBC reduced their target price on Pan American Silver from $28.00 to $27.50 and set an “outperform” rating for the company in a report on Wednesday, February 7th. Finally, TD Securities reduced their target price on Pan American Silver from $18.50 to $17.50 and set a “buy” rating for the company in a report on Friday, February 23rd. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $21.00.

Pan American Silver Stock Performance

Shares of PAAS opened at $18.39 on Wednesday. The company has a current ratio of 2.23, a quick ratio of 1.09 and a debt-to-equity ratio of 0.16. The firm has a market cap of $6.68 billion, a PE ratio of -61.26, a price-to-earnings-growth ratio of 2.51 and a beta of 1.36. The company’s 50 day simple moving average is $15.83 and its 200-day simple moving average is $15.08. Pan American Silver has a 12-month low of $12.16 and a 12-month high of $20.60.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last announced its earnings results on Thursday, February 22nd. The basic materials company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.12). Pan American Silver had a positive return on equity of 0.44% and a negative net margin of 5.24%. The business had revenue of $669.60 million for the quarter, compared to analysts’ expectations of $657.65 million. During the same quarter last year, the business posted ($0.02) earnings per share. As a group, equities analysts predict that Pan American Silver will post 0.38 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Marlin Sams Capital Management LLC raised its stake in shares of Pan American Silver by 5.7% during the 1st quarter. Marlin Sams Capital Management LLC now owns 370,000 shares of the basic materials company’s stock worth $5,580,000 after buying an additional 20,000 shares during the last quarter. Pullen Investment Management LLC acquired a new position in shares of Pan American Silver during the 1st quarter worth $767,000. StoneX Group Inc. raised its stake in shares of Pan American Silver by 14.9% during the 1st quarter. StoneX Group Inc. now owns 12,191 shares of the basic materials company’s stock worth $184,000 after buying an additional 1,579 shares during the last quarter. DORCHESTER WEALTH MANAGEMENT Co raised its stake in shares of Pan American Silver by 20.9% during the 1st quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 28,451 shares of the basic materials company’s stock worth $422,000 after buying an additional 4,916 shares during the last quarter. Finally, Van ECK Associates Corp raised its stake in shares of Pan American Silver by 1.4% during the 1st quarter. Van ECK Associates Corp now owns 46,486,439 shares of the basic materials company’s stock worth $701,016,000 after buying an additional 653,064 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.