Pan American Silver (NYSE:PAAS) PT Set at $46.00 by CIBC

Pan American Silver (NYSE:PAAS) (TSE:PAAS) has been given a $46.00 target price by research analysts at CIBC in a research report issued to clients and investors on Tuesday, Marketbeat Ratings reports. The firm currently has an “outperformer” rating on the basic materials company’s stock. CIBC’s price target suggests a potential upside of 58.97% from the stock’s previous close.

A number of other brokerages have also issued reports on PAAS. National Bankshares reaffirmed an “outperform” rating on shares of Pan American Silver in a research note on Wednesday, April 2nd. BMO Capital Markets assumed coverage on shares of Pan American Silver in a research note on Wednesday, April 16th. They set a “market perform” rating on the stock. Scotiabank reaffirmed a “sector perform” rating on shares of Pan American Silver in a report on Monday, April 14th. TD Securities decreased their price target on shares of Pan American Silver from $30.00 to $26.00 and set a “hold” rating on the stock in a research note on Thursday, May 22nd. Finally, Wall Street Zen raised shares of Pan American Silver from a “buy” rating to a “strong-buy” rating in a research note on Thursday, May 15th. Four equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $31.40.

Pan American Silver Trading Down 2.5%

Shares of NYSE:PAAS opened at $28.94 on Tuesday. The business has a 50 day moving average of $27.08 and a two-hundred day moving average of $25.13. Pan American Silver has a 12-month low of $17.86 and a 12-month high of $31.03. The company has a market capitalization of $10.47 billion, a PE ratio of 33.26, a PEG ratio of 0.51 and a beta of 0.67. The company has a current ratio of 2.93, a quick ratio of 1.94 and a debt-to-equity ratio of 0.16.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last released its quarterly earnings results on Wednesday, May 7th. The basic materials company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.23. The company had revenue of $773.20 million during the quarter, compared to analysts’ expectations of $696.62 million. Pan American Silver had a return on equity of 9.25% and a net margin of 10.45%. Pan American Silver’s quarterly revenue was up 28.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.01 EPS. As a group, analysts forecast that Pan American Silver will post 1.26 EPS for the current year.

Institutional Trading of Pan American Silver

Several hedge funds have recently made changes to their positions in PAAS. Graybill Wealth Management LTD. purchased a new stake in shares of Pan American Silver in the 1st quarter valued at approximately $33,000. Farther Finance Advisors LLC increased its holdings in Pan American Silver by 164.3% in the 4th quarter. Farther Finance Advisors LLC now owns 1,945 shares of the basic materials company’s stock valued at $39,000 after purchasing an additional 1,209 shares during the last quarter. Jones Financial Companies Lllp lifted its stake in Pan American Silver by 23.4% during the fourth quarter. Jones Financial Companies Lllp now owns 2,892 shares of the basic materials company’s stock worth $58,000 after purchasing an additional 549 shares in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its position in shares of Pan American Silver by 507.3% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 4,500 shares of the basic materials company’s stock worth $116,000 after buying an additional 3,759 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp acquired a new stake in shares of Pan American Silver in the fourth quarter valued at $118,000. Hedge funds and other institutional investors own 55.43% of the company’s stock.

Pan American Silver Company Profile

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.