Canaccord Genuity upgraded shares of Pan American Silver (NASDAQ:PAAS) (TSE:PAAS) to a buy rating in a research note issued to investors on Wednesday morning, TipRanks reports. They currently have $44.00 target price on the basic materials company’s stock.

A number of other analysts have also weighed in on PAAS. FBR & Co lowered their price objective on shares of Pan American Silver from $32.00 to $30.00 and set a neutral rating for the company in a research note on Friday, May 8th. Pi Financial reaffirmed a buy rating on shares of Pan American Silver in a research note on Friday, May 29th. BofA Securities raised shares of Pan American Silver from a neutral rating to a buy rating in a research note on Thursday, July 23rd. Scotiabank raised shares of Pan American Silver from an underperform rating to a sector perform rating in a research note on Thursday, April 2nd. Finally, National Bank Financial raised shares of Pan American Silver from a sector perform overweight rating to an outperform overweight rating in a research note on Wednesday, May 20th. One analyst has rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the company’s stock. The company currently has an average rating of Buy and an average target price of $31.64.

Shares of PAAS opened at $37.36 on Wednesday. The firm has a market capitalization of $7.46 billion, a P/E ratio of 249.07, a P/E/G ratio of 17.71 and a beta of 1.35. Pan American Silver has a 12-month low of $10.61 and a 12-month high of $39.33. The company has a current ratio of 2.95, a quick ratio of 1.65 and a debt-to-equity ratio of 0.12. The firm has a fifty day moving average price of $31.01 and a 200-day moving average price of $23.88.

Pan American Silver (NASDAQ:PAAS) (TSE:PAAS) last issued its earnings results on Wednesday, May 6th. The basic materials company reported ($0.04) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.13 by ($0.17). Pan American Silver had a net margin of 2.19% and a return on equity of 5.95%. The company had revenue of $358.43 million for the quarter, compared to analysts’ expectations of $373.18 million. During the same period in the prior year, the firm posted $0.05 earnings per share. The firm’s revenue for the quarter was up 41.3% compared to the same quarter last year. Analysts predict that Pan American Silver will post 0.84 earnings per share for the current year.

A number of institutional investors have recently made changes to their positions in the business. Lindbrook Capital LLC raised its holdings in Pan American Silver by 32.4% in the second quarter. Lindbrook Capital LLC now owns 1,840 shares of the basic materials company’s stock worth $56,000 after purchasing an additional 450 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Pan American Silver by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 171,756 shares of the basic materials company’s stock valued at $4,068,000 after acquiring an additional 504 shares in the last quarter. Comerica Bank increased its holdings in shares of Pan American Silver by 5.2% during the second quarter. Comerica Bank now owns 10,839 shares of the basic materials company’s stock valued at $404,000 after acquiring an additional 539 shares in the last quarter. Flagship Harbor Advisors LLC increased its holdings in shares of Pan American Silver by 26.2% during the second quarter. Flagship Harbor Advisors LLC now owns 3,829 shares of the basic materials company’s stock valued at $116,000 after acquiring an additional 796 shares in the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. increased its holdings in shares of Pan American Silver by 2.1% during the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 41,946 shares of the basic materials company’s stock valued at $988,000 after acquiring an additional 872 shares in the last quarter. Institutional investors and hedge funds own 51.90% of the company’s stock.

Pan American Silver Company Profile

Pan American Silver Corp., together with its subsidiaries, engages in the exploration, development, extraction, processing, refining, and reclamation of silver mines. The company owns and operates mines located in Mexico, Peru, Canada, Argentina, and Bolivia. It also produces and sells gold, zinc, lead, and copper.

Further Reading: How to find the components of the quick ratio

Analyst Recommendations for Pan American Silver (NASDAQ:PAAS)

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