Scotiabank Issues Positive Forecast for Pan American Silver (NYSE:PAAS) Stock Price

Pan American Silver (NYSE:PAAS) (TSE:PAAS) had its target price lifted by stock analysts at Scotiabank from $28.00 to $28.50 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has a “sector outperform” rating on the basic materials company’s stock. Scotiabank’s price target suggests a potential upside of 18.90% from the stock’s current price.

A number of other equities research analysts also recently weighed in on PAAS. StockNews.com downgraded shares of Pan American Silver from a “buy” rating to a “hold” rating in a research note on Sunday, December 1st. Royal Bank of Canada raised their target price on shares of Pan American Silver from $28.00 to $30.00 and gave the company an “outperform” rating in a research report on Tuesday, February 11th. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $28.10.

Pan American Silver Price Performance

NYSE:PAAS traded down $0.66 during mid-day trading on Tuesday, reaching $23.97. The stock had a trading volume of 858,516 shares, compared to its average volume of 2,975,573. The stock has a 50-day simple moving average of $22.40 and a two-hundred day simple moving average of $22.01. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.50 and a quick ratio of 0.96. Pan American Silver has a 12 month low of $12.19 and a 12 month high of $26.05. The stock has a market capitalization of $8.68 billion, a PE ratio of 74.91 and a beta of 1.28.

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

Hedge Funds Weigh In On Pan American Silver

A number of hedge funds have recently modified their holdings of the business. Comprehensive Financial Planning Inc. PA acquired a new position in Pan American Silver during the 4th quarter worth about $27,000. Laurel Wealth Advisors LLC acquired a new position in shares of Pan American Silver in the fourth quarter worth approximately $30,000. Wilmington Savings Fund Society FSB acquired a new stake in Pan American Silver during the 3rd quarter valued at approximately $32,000. Decker Retirement Planning Inc. bought a new position in Pan American Silver during the 4th quarter worth approximately $32,000. Finally, Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of Pan American Silver in the 4th quarter worth approximately $32,000. Institutional investors and hedge funds 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.