Pan American Silver (NASDAQ:PAAS) (TSE:PAAS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday.
According to Zacks, “PAN AMER SILVER is a mining company focused exclusively on silver. Pan American Silver Corp. is founded upon a single mission, to become the best vehicle for equity investors wanting to gain real exposure to higher silver prices. To accomplish this they are striving to increase their low-cost silver production, to have the most successful silver exploration programs, to hold the largest silver reserves and resources, and to be the purest of the world’s large silver producers. “
Several other research analysts have also recently weighed in on PAAS. Royal Bank of Canada set a $23.00 price target on Pan American Silver and gave the stock a “buy” rating in a research note on Tuesday, October 17th. B. Riley restated a “neutral” rating on shares of Pan American Silver in a research note on Wednesday, November 1st. BMO Capital Markets initiated coverage on Pan American Silver in a research note on Friday, November 17th. They issued a “buy” rating and a $20.00 price target for the company. Citigroup upgraded Pan American Silver to an “outperform” rating in a research note on Tuesday, November 21st. Finally, Raymond James Financial upgraded Pan American Silver from a “market perform” rating to an “outperform” rating in a research note on Tuesday, November 21st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twelve have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $20.91.
Pan American Silver (NASDAQ:PAAS) (TSE:PAAS) last posted its quarterly earnings results on Wednesday, November 8th. The basic materials company reported $0.15 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.02. Pan American Silver had a return on equity of 5.12% and a net margin of 12.23%. The firm had revenue of $190.79 million during the quarter, compared to analysts’ expectations of $199.43 million. During the same quarter in the previous year, the business earned $0.24 earnings per share. The company’s revenue was down 18.3% on a year-over-year basis. analysts forecast that Pan American Silver will post 0.52 earnings per share for the current fiscal year.
Several institutional investors and hedge funds have recently modified their holdings of PAAS. Cerebellum GP LLC bought a new stake in shares of Pan American Silver in the fourth quarter worth $126,000. SG Americas Securities LLC bought a new stake in shares of Pan American Silver in the fourth quarter worth $131,000. Alliancebernstein L.P. bought a new stake in shares of Pan American Silver in the second quarter worth $170,000. Quantbot Technologies LP bought a new stake in shares of Pan American Silver in the third quarter worth $177,000. Finally, Virtu Financial LLC bought a new stake in shares of Pan American Silver in the third quarter worth $178,000. 54.05% of the stock is owned by institutional investors.
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About Pan American Silver
Pan American Silver Corp. is a silver production company. The Company is principally engaged in the operation and development of, and exploration for, silver producing properties. The Company’s segments include Peru, Mexico, Argentina and Bolivia. The Company also produces and sells gold, zinc, lead and copper.
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