Zacks Investment Research Upgrades Pan American Silver (PAAS) to “Buy”
Zacks Investment Research upgraded shares of Pan American Silver (NASDAQ:PAAS) (TSE:PAAS) from a hold rating to a buy rating in a research report report published on Wednesday morning. The firm currently has $17.00 price objective on the basic materials company’s stock.
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. “
PAAS has been the topic of a number of other reports. UBS Group downgraded shares of Pan American Silver from an outperform rating to a market perform rating in a research note on Thursday, September 7th. Raymond James Financial downgraded shares of Pan American Silver from an outperform rating to a market perform rating and set a $20.50 price objective on the stock. in a research note on Friday, September 8th. Canaccord Genuity reiterated a buy rating and set a $23.00 price objective on shares of Pan American Silver in a research note on Friday, October 6th. Royal Bank of Canada set a $22.00 price objective on shares of Pan American Silver and gave the company a buy rating in a research note on Tuesday, December 5th. Finally, CSFB increased their price objective on shares of Pan American Silver from $24.00 to $25.00 and gave the company an outperform rating in a research note on Wednesday, November 22nd. One 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. The stock has a consensus rating of Buy and an average target price of $21.13.
Pan American Silver (PAAS) opened at $15.67 on Wednesday. The firm has a market cap of $2,410.00, a price-to-earnings ratio of 25.69, a PEG ratio of 8.01 and a beta of 0.09. Pan American Silver has a 52 week low of $13.99 and a 52 week high of $21.29.
Pan American Silver (NASDAQ:PAAS) (TSE:PAAS) last posted its quarterly earnings data on Wednesday, November 8th. The basic materials company reported $0.15 EPS for the quarter, beating the Zacks’ consensus estimate of $0.13 by $0.02. Pan American Silver had a net margin of 12.23% and a return on equity of 5.12%. The firm had revenue of $190.79 million for the quarter, compared to the consensus estimate of $199.43 million. During the same period in the prior year, the firm posted $0.24 EPS. The firm’s revenue was down 18.3% compared to the same quarter last year. analysts forecast that Pan American Silver will post 0.49 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Monday, November 20th were issued a dividend of $0.025 per share. The ex-dividend date was Friday, November 17th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.64%. Pan American Silver’s dividend payout ratio (DPR) is 16.39%.
Large investors have recently modified their holdings of the business. Blair William & Co. IL raised its holdings in shares of Pan American Silver by 1.7% during the second quarter. Blair William & Co. IL now owns 70,578 shares of the basic materials company’s stock worth $1,187,000 after purchasing an additional 1,208 shares during the period. Shell Asset Management Co. raised its holdings in shares of Pan American Silver by 148.3% during the third quarter. Shell Asset Management Co. now owns 37,145 shares of the basic materials company’s stock worth $457,000 after purchasing an additional 22,186 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Pan American Silver by 452.4% during the second quarter. JPMorgan Chase & Co. now owns 431,069 shares of the basic materials company’s stock worth $7,251,000 after purchasing an additional 353,037 shares during the period. Adirondack Research & Management Inc. raised its holdings in shares of Pan American Silver by 35.0% during the second quarter. Adirondack Research & Management Inc. now owns 160,700 shares of the basic materials company’s stock worth $2,703,000 after purchasing an additional 41,700 shares during the period. Finally, AJO LP acquired a new stake in shares of Pan American Silver during the second quarter worth $12,239,000. 53.89% of the stock is currently 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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