Pan American Silver (NYSE:PAAS) Rating Increased to Strong-Buy at Wall Street Zen

Pan American Silver (NYSE:PAAS) (TSE:PAAS) was upgraded by Wall Street Zen from a “buy” rating to a “strong-buy” rating in a report released on Saturday.

Other equities analysts have also issued reports about the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Pan American Silver in a report on Tuesday, October 14th. National Bank Financial upgraded shares of Pan American Silver to a “strong-buy” rating in a report on Thursday, September 4th. National Bankshares restated an “outperform” rating on shares of Pan American Silver in a report on Friday, September 5th. Zacks Research lowered shares of Pan American Silver from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 19th. Finally, CIBC upped their price objective on shares of Pan American Silver from $50.00 to $62.00 and gave the stock an “outperformer” rating in a report on Friday, October 10th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Pan American Silver currently has an average rating of “Moderate Buy” and an average price target of $41.25.

Pan American Silver Stock Performance

NYSE:PAAS opened at $35.22 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.05 and a quick ratio of 2.11. The firm has a market capitalization of $14.87 billion, a price-to-earnings ratio of 24.29, a PEG ratio of 0.44 and a beta of 0.63. The company’s 50-day moving average is $36.73 and its two-hundred day moving average is $30.81. Pan American Silver has a 1-year low of $19.80 and a 1-year high of $42.57.

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

Institutional Investors Weigh In On Pan American Silver

Several large investors have recently added to or reduced their stakes in PAAS. Arrowstreet Capital Limited Partnership increased its stake in Pan American Silver by 5,674.3% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 6,141,108 shares of the basic materials company’s stock worth $174,406,000 after buying an additional 6,034,755 shares during the period. Norges Bank purchased a new stake in Pan American Silver during the 2nd quarter worth approximately $155,281,000. Connor Clark & Lunn Investment Management Ltd. increased its stake in Pan American Silver by 319.1% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,451,864 shares of the basic materials company’s stock worth $115,009,000 after buying an additional 3,389,549 shares during the period. Invesco Ltd. increased its stake in Pan American Silver by 49.5% during the 2nd quarter. Invesco Ltd. now owns 9,016,262 shares of the basic materials company’s stock worth $256,062,000 after buying an additional 2,986,434 shares during the period. Finally, North of South Capital LLP increased its stake in Pan American Silver by 444.2% during the 3rd quarter. North of South Capital LLP now owns 3,000,056 shares of the basic materials company’s stock worth $116,192,000 after buying an additional 2,448,778 shares during the period. 55.43% of the stock is owned by hedge funds and other institutional investors.

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.