Scotiabank Increases Pan American Silver (NYSE:PAAS) Price Target to $32.00

Pan American Silver (NYSE:PAAS) (TSE:PAAS) had its target price increased by equities researchers at Scotiabank from $28.50 to $32.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a “sector outperform” rating on the basic materials company’s stock. Scotiabank’s price objective points to a potential upside of 16.50% from the stock’s current price.

Other equities research analysts also recently issued reports about the company. Royal Bank of Canada increased their price target on Pan American Silver from $28.00 to $30.00 and gave the stock an “outperform” rating in a report on Tuesday, February 11th. StockNews.com cut shares of Pan American Silver from a “buy” rating to a “hold” rating in a research note on Wednesday, April 2nd. National Bankshares reiterated an “outperform” rating on shares of Pan American Silver in a research note on Wednesday, April 2nd. Finally, TD Securities downgraded shares of Pan American Silver from a “buy” rating to a “hold” rating and reduced their price objective for the company from $28.00 to $27.00 in a research report on Tuesday, March 11th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $28.50.

Pan American Silver Trading Up 1.1 %

NYSE:PAAS opened at $27.47 on Monday. The company has a market capitalization of $9.95 billion, a PE ratio of 85.84 and a beta of 1.06. Pan American Silver has a 52-week low of $17.86 and a 52-week high of $27.66. The stock’s 50 day moving average price is $24.88 and its 200 day moving average price is $23.16. The company has a quick ratio of 0.96, a current ratio of 2.50 and a debt-to-equity ratio of 0.16.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last announced its earnings results on Wednesday, February 19th. The basic materials company reported $0.35 earnings per share for the quarter, hitting the consensus estimate of $0.35. Pan American Silver had a net margin of 3.98% and a return on equity of 6.14%. The business had revenue of $815.10 million during the quarter, compared to the consensus estimate of $805.20 million. On average, research analysts anticipate that Pan American Silver will post 1.26 EPS for the current year.

Institutional Investors Weigh In On Pan American Silver

Several institutional investors have recently modified their holdings of the company. Signaturefd LLC raised its holdings in Pan American Silver by 6.0% during the fourth quarter. Signaturefd LLC now owns 7,924 shares of the basic materials company’s stock worth $160,000 after purchasing an additional 451 shares during the last quarter. US Bancorp DE raised its stake in shares of Pan American Silver by 9.6% during the 4th quarter. US Bancorp DE now owns 6,139 shares of the basic materials company’s stock worth $124,000 after buying an additional 539 shares during the last quarter. Jones Financial Companies Lllp boosted its position in shares of Pan American Silver by 23.4% in the 4th quarter. Jones Financial Companies Lllp now owns 2,892 shares of the basic materials company’s stock worth $58,000 after buying an additional 549 shares in the last quarter. Principal Securities Inc. grew its stake in Pan American Silver by 12.5% in the 4th quarter. Principal Securities Inc. now owns 5,977 shares of the basic materials company’s stock valued at $121,000 after acquiring an additional 664 shares during the last quarter. Finally, Evergreen Capital Management LLC increased its holdings in Pan American Silver by 2.4% during the 4th quarter. Evergreen Capital Management LLC now owns 30,203 shares of the basic materials company’s stock valued at $611,000 after acquiring an additional 715 shares in the last quarter. Hedge funds and other institutional investors 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.