Royal Bank of Canada Issues Positive Forecast for Pan American Silver (NYSE:PAAS) Stock Price

Pan American Silver (NYSE:PAAS - Get Free Report) TSE: PAAS had its price target raised by investment analysts 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 would indicate a potential upside of 22.82% from the company's previous close.

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

Pan American Silver Stock Performance

Pan American Silver stock traded down $0.65 during trading on Tuesday, hitting $24.43. The stock had a trading volume of 3,909,858 shares, compared to its average volume of 2,849,540. Pan American Silver has a 1 year low of $12.19 and a 1 year high of $26.05. The company has a quick ratio of 0.96, a current ratio of 2.06 and a debt-to-equity ratio of 0.16. The stock's 50 day moving average is $22.19 and its two-hundred day moving average is $21.83. The stock has a market cap of $8.87 billion, a price-to-earnings ratio of -143.67 and a beta of 1.28.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Van ECK Associates Corp increased its holdings in shares of Pan American Silver by 6.3% in the third quarter. Van ECK Associates Corp now owns 39,512,808 shares of the basic materials company's stock worth $824,632,000 after purchasing an additional 2,328,306 shares during the period. Vanguard Group Inc. increased its holdings in shares of Pan American Silver by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 14,008,185 shares of the basic materials company's stock worth $283,385,000 after purchasing an additional 221,561 shares during the period. FIL Ltd grew its position in Pan American Silver by 4.6% in the fourth quarter. FIL Ltd now owns 13,388,644 shares of the basic materials company's stock worth $270,848,000 after acquiring an additional 584,017 shares in the last quarter. Norges Bank purchased a new position in Pan American Silver in the fourth quarter worth $91,916,000. Finally, Geode Capital Management LLC grew its position in Pan American Silver by 32.2% in the fourth quarter. Geode Capital Management LLC now owns 2,027,461 shares of the basic materials company's stock worth $40,776,000 after acquiring an additional 494,133 shares in the last quarter. Institutional investors own 55.43% of the company's stock.

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.