Pan American Silver (NYSE:PAAS) Price Target Raised to $27.00

Pan American Silver (NYSE:PAAS - Get Free Report) TSE: PAAS had its price target increased by research analysts at Royal Bank of Canada from $25.00 to $27.00 in a research report issued to clients and investors on Tuesday, BayStreet.CA reports. The firm currently has an "outperform" rating on the basic materials company's stock. Royal Bank of Canada's target price suggests a potential upside of 42.48% from the company's previous close.

A number of other research firms have also weighed in on PAAS. CIBC upped their target price on shares of Pan American Silver from $30.00 to $35.00 and gave the stock an "outperformer" rating in a research note on Wednesday, July 10th. Jefferies Financial Group upped their target price on shares of Pan American Silver from $19.00 to $22.00 and gave the stock a "hold" rating in a research note on Friday, July 12th. BMO Capital Markets upped their target price on shares of Pan American Silver from $22.00 to $24.00 in a research note on Tuesday, May 21st. Finally, Scotiabank upped their target price on shares of Pan American Silver from $23.00 to $26.00 and gave the stock a "sector outperform" rating in a research note on Tuesday, July 16th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $24.79.

Pan American Silver Trading Up 0.7 %

NYSE:PAAS traded up $0.14 on Tuesday, reaching $18.95. 2,195,871 shares of the company's stock were exchanged, compared to its average volume of 4,152,194. The company has a quick ratio of 0.92, a current ratio of 2.06 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $6.88 billion, a price-to-earnings ratio of -41.20 and a beta of 1.35. The business has a fifty day moving average of $21.11 and a 200-day moving average of $19.16. Pan American Silver has a 52-week low of $12.16 and a 52-week high of $24.27.

Pan American Silver (NYSE:PAAS - Get Free Report) TSE: PAAS last issued its quarterly earnings results on Wednesday, August 7th. The basic materials company reported $0.11 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.15 by ($0.04). The business had revenue of $686.30 million for the quarter, compared to analysts' expectations of $696.08 million. Pan American Silver had a positive return on equity of 0.66% and a negative net margin of 5.54%. The firm's revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter last year, the company earned $0.04 earnings per share. As a group, analysts expect that Pan American Silver will post 0.59 earnings per share for the current year.

Institutional Investors Weigh In On Pan American Silver

Large investors have recently modified their holdings of the company. Foundry Partners LLC boosted its holdings in shares of Pan American Silver by 11.6% in the first quarter. Foundry Partners LLC now owns 247,676 shares of the basic materials company's stock valued at $3,735,000 after acquiring an additional 25,835 shares during the period. Cetera Investment Advisers acquired a new stake in shares of Pan American Silver during the first quarter worth $1,565,000. Norges Bank acquired a new stake in shares of Pan American Silver during the fourth quarter worth $63,066,000. Gamco Investors INC. ET AL acquired a new stake in shares of Pan American Silver during the first quarter worth $421,000. Finally, BNP Paribas Financial Markets lifted its holdings in shares of Pan American Silver by 97.7% during the fourth quarter. BNP Paribas Financial Markets now owns 146,950 shares of the basic materials company's stock worth $2,400,000 after purchasing an additional 72,607 shares during the period. 55.43% of the stock is 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.