Pan American Silver (NYSE:PAAS) Stock Price Expected to Rise, Royal Bank of Canada Analyst Says

Pan American Silver (NYSE:PAAS - Get Free Report) TSE: PAAS had its target price increased by equities researchers at Royal Bank of Canada from $28.00 to $30.00 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 price target indicates a potential upside of 22.82% from the company's previous close.

Separately, StockNews.com lowered Pan American Silver from a "buy" rating to a "hold" rating in a research note on Sunday, December 1st. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $25.92.

Pan American Silver Price Performance

PAAS stock traded down $0.65 during mid-day trading on Tuesday, reaching $24.43. 3,909,858 shares of the company's stock were exchanged, compared to its average volume of 2,849,540. The company has a market cap of $8.87 billion, a price-to-earnings ratio of -143.67 and a beta of 1.28. The stock's 50 day moving average is $22.19 and its 200 day moving average is $21.83. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.06 and a quick ratio of 0.96. Pan American Silver has a 12-month low of $12.19 and a 12-month high of $26.05.

Hedge Funds Weigh In On Pan American Silver

A number of institutional investors have recently added to or reduced their stakes in PAAS. AQR Capital Management LLC purchased a new position in Pan American Silver during the second quarter worth approximately $238,000. Creative Planning lifted its position in Pan American Silver by 10.2% during the third quarter. Creative Planning now owns 33,004 shares of the basic materials company's stock worth $689,000 after buying an additional 3,051 shares in the last quarter. Kapitalo Investimentos Ltda lifted its position in Pan American Silver by 237.2% during the third quarter. Kapitalo Investimentos Ltda now owns 128,872 shares of the basic materials company's stock worth $2,690,000 after buying an additional 90,650 shares in the last quarter. Stratos Wealth Advisors LLC lifted its position in Pan American Silver by 33.4% during the third quarter. Stratos Wealth Advisors LLC now owns 159,268 shares of the basic materials company's stock worth $3,324,000 after buying an additional 39,873 shares in the last quarter. Finally, Raymond James & Associates lifted its position in Pan American Silver by 10.4% during the third quarter. Raymond James & Associates now owns 249,300 shares of the basic materials company's stock worth $5,203,000 after buying an additional 23,543 shares in the last quarter. Hedge funds and other institutional investors own 55.43% of the company's stock.

About Pan American Silver

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.