Pan American Silver (NYSE:PAAS) Cut to Buy at Wall Street Zen

Pan American Silver (NYSE:PAAS) (TSE:PAAS) was downgraded by analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Saturday.

Several other brokerages have also recently weighed in on PAAS. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Pan American Silver in a research note on Tuesday, May 12th. Canadian Imperial Bank of Commerce set a $88.00 target price on Pan American Silver and gave the company an “outperform” rating in a research note on Wednesday, February 4th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $75.00 target price on shares of Pan American Silver in a research note on Tuesday, April 28th. TD Cowen raised Pan American Silver from a “hold” rating to a “buy” rating and raised their target price for the company from $67.00 to $72.00 in a research note on Tuesday, May 12th. Finally, TD Securities raised Pan American Silver from a “hold” rating to a “buy” rating and set a $72.00 target price for the company in a research note on Monday, May 11th. Eight investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $68.00.

Pan American Silver Price Performance

Shares of PAAS opened at $57.00 on Friday. The stock’s fifty day moving average is $55.26 and its 200-day moving average is $54.00. Pan American Silver has a one year low of $23.88 and a one year high of $69.99. The firm has a market capitalization of $24.02 billion, a price-to-earnings ratio of 18.33, a price-to-earnings-growth ratio of 0.43 and a beta of 0.65. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.11 and a current ratio of 2.84.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last announced its earnings results on Tuesday, May 5th. The basic materials company reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.03. Pan American Silver had a return on equity of 19.50% and a net margin of 31.66%.The business had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.25 billion. During the same quarter last year, the business posted $0.42 earnings per share. The company’s quarterly revenue was up 49.3% on a year-over-year basis. Equities analysts anticipate that Pan American Silver will post 4.65 EPS for the current year.

Institutional Investors Weigh In On Pan American Silver

Several hedge funds have recently bought and sold shares of PAAS. AQR Capital Management LLC lifted its stake in Pan American Silver by 48.6% in the 1st quarter. AQR Capital Management LLC now owns 19,529 shares of the basic materials company’s stock worth $504,000 after acquiring an additional 6,391 shares in the last quarter. Jones Financial Companies Lllp lifted its stake in Pan American Silver by 574.9% in the 1st quarter. Jones Financial Companies Lllp now owns 19,518 shares of the basic materials company’s stock worth $504,000 after acquiring an additional 16,626 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in Pan American Silver by 31.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,499,343 shares of the basic materials company’s stock worth $38,728,000 after acquiring an additional 360,283 shares in the last quarter. Empowered Funds LLC purchased a new stake in Pan American Silver in the 1st quarter worth about $1,272,000. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in Pan American Silver by 53.6% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,703 shares of the basic materials company’s stock worth $48,000 after acquiring an additional 594 shares in the last quarter. 55.43% of the stock is owned by hedge funds and other institutional investors.

About Pan American Silver

Pan American Silver Corp. (NYSE: PAAS) is a Vancouver-based mining company and one of the world’s largest primary silver producers. The company’s core activities encompass the exploration, development, extraction and processing of silver, with significant by-product production of gold, zinc and lead. Pan American Silver maintains a vertically integrated operating model, covering the full mining value chain from resource discovery through to refined metal production.

With a geographic footprint concentrated across the Americas, Pan American Silver operates multiple mines in Mexico, Peru, Argentina and Bolivia, and is advancing several development and exploration projects in Chile and Ecuador.