Bank of America Forecasts Strong Price Appreciation for Pan American Silver (NYSE:PAAS) Stock

Pan American Silver (NYSE:PAAS) (TSE:PAAS) had its target price upped by equities researchers at Bank of America from $46.00 to $51.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the basic materials company’s stock. Bank of America‘s price target would indicate a potential upside of 13.73% from the stock’s previous close.

Several other equities analysts also recently commented on the company. Wall Street Zen downgraded Pan American Silver from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 15th. Zacks Research raised Pan American Silver from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 25th. National Bank Financial upgraded Pan American Silver to a “strong-buy” rating in a research report on Thursday, September 4th. CIBC boosted their target price on shares of Pan American Silver from $50.00 to $62.00 and gave the company an “outperformer” rating in a research report on Friday, October 10th. Finally, Scotiabank upped their price target on shares of Pan American Silver from $36.00 to $47.00 and gave the company an “outperform” rating in a research note on Thursday, October 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Pan American Silver has an average rating of “Buy” and a consensus price target of $43.20.

Pan American Silver Price Performance

Shares of PAAS opened at $44.85 on Monday. The company’s 50-day moving average is $38.25 and its 200-day moving average is $32.97. 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 $18.93 billion, a PE ratio of 30.93, a PEG ratio of 0.44 and a beta of 0.63. Pan American Silver has a fifty-two week low of $19.80 and a fifty-two week high of $46.60.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last announced its quarterly earnings results on Wednesday, November 12th. The basic materials company reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.01). The company had revenue of $854.60 million during the quarter, compared to analyst estimates of $867.76 million. Pan American Silver had a net margin of 16.80% and a return on equity of 11.49%. The firm’s quarterly revenue was up 19.3% on a year-over-year basis. During the same quarter last year, the company posted $0.32 EPS. Equities analysts forecast that Pan American Silver will post 1.26 EPS for the current year.

Institutional Investors Weigh In On Pan American Silver

A number of large investors have recently bought and sold shares of PAAS. Harvest Portfolios Group Inc. raised its position in shares of Pan American Silver by 0.9% in the 3rd quarter. Harvest Portfolios Group Inc. now owns 36,240 shares of the basic materials company’s stock valued at $1,404,000 after buying an additional 318 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its stake in Pan American Silver by 18.1% in the third quarter. MassMutual Private Wealth & Trust FSB now owns 2,373 shares of the basic materials company’s stock valued at $92,000 after acquiring an additional 364 shares during the last quarter. Parallel Advisors LLC increased its stake in Pan American Silver by 151.8% in the third quarter. Parallel Advisors LLC now owns 642 shares of the basic materials company’s stock valued at $25,000 after acquiring an additional 387 shares during the last quarter. City State Bank raised its position in Pan American Silver by 74.4% during the third quarter. City State Bank now owns 1,020 shares of the basic materials company’s stock valued at $40,000 after purchasing an additional 435 shares in the last quarter. Finally, Truist Financial Corp lifted its stake in Pan American Silver by 0.9% during the third quarter. Truist Financial Corp now owns 50,796 shares of the basic materials company’s stock worth $1,967,000 after purchasing an additional 436 shares during the last quarter. 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.