Pan American Silver (NYSE:PAAS) Stock Price Expected to Rise, CIBC Analyst Says

Pan American Silver (NYSE:PAAS) (TSE:PAAS) had its target price hoisted by stock analysts at CIBC from $50.00 to $62.00 in a research note issued on Friday, MarketBeat Ratings reports. The firm presently has an “outperformer” rating on the basic materials company’s stock. CIBC’s target price suggests a potential upside of 60.98% from the stock’s current price.

Several other analysts also recently issued reports on PAAS. National Bankshares restated an “outperform” rating on shares of Pan American Silver in a research report on Friday, September 5th. Wall Street Zen upgraded Pan American Silver from a “buy” rating to a “strong-buy” rating in a research report on Friday, October 3rd. Scotiabank reduced their price objective on Pan American Silver from $36.50 to $36.00 and set an “outperform” rating on the stock in a research report on Friday, September 5th. Zacks Research downgraded Pan American Silver from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 19th. Finally, National Bank Financial upgraded Pan American Silver to a “strong-buy” rating in a research report on Thursday, September 4th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Pan American Silver has an average rating of “Moderate Buy” and a consensus target price of $38.50.

Pan American Silver Stock Performance

Pan American Silver stock opened at $38.52 on Friday. Pan American Silver has a fifty-two week low of $19.80 and a fifty-two week high of $40.84. The company has a market capitalization of $16.25 billion, a price-to-earnings ratio of 26.56, a PEG ratio of 0.61 and a beta of 0.63. The stock has a fifty day moving average of $34.85 and a two-hundred day moving average of $29.47. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.11 and a current ratio of 3.05.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last issued its quarterly earnings data on Wednesday, August 6th. The basic materials company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.03. Pan American Silver had a return on equity of 11.49% and a net margin of 16.80%.The business had revenue of $811.90 million for the quarter, compared to the consensus estimate of $782.12 million. During the same period in the prior year, the business earned $0.11 earnings per share. The business’s revenue was up 18.3% on a year-over-year basis. On average, analysts anticipate that Pan American Silver will post 1.26 EPS for the current fiscal year.

Institutional Investors Weigh In On Pan American Silver

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Concurrent Investment Advisors LLC acquired a new stake in Pan American Silver during the first quarter worth about $222,000. D.A. Davidson & CO. acquired a new stake in Pan American Silver during the first quarter worth about $358,000. Intech Investment Management LLC increased its stake in Pan American Silver by 189.0% during the first quarter. Intech Investment Management LLC now owns 107,952 shares of the basic materials company’s stock worth $2,788,000 after acquiring an additional 70,593 shares during the last quarter. Triasima Portfolio Management inc. increased its stake in Pan American Silver by 29.1% during the second quarter. Triasima Portfolio Management inc. now owns 211,010 shares of the basic materials company’s stock worth $5,975,000 after acquiring an additional 47,500 shares during the last quarter. Finally, Counterpoint Mutual Funds LLC acquired a new stake in Pan American Silver during the second quarter worth about $736,000. 55.43% of the stock is currently owned by institutional investors and hedge funds.

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.