Pan American Silver (NYSE:PAAS) Given New $32.00 Price Target at Scotiabank

Pan American Silver (NYSE:PAAS - Get Free Report) TSE: PAAS had its target price hoisted by investment analysts at Scotiabank from $28.50 to $32.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has a "sector outperform" rating on the basic materials company's stock. Scotiabank's price objective points to a potential upside of 17.65% from the stock's previous close.

A number of other equities analysts have also commented on PAAS. TD Securities lowered Pan American Silver from a "buy" rating to a "hold" rating and dropped their price objective for the stock from $28.00 to $27.00 in a research note on Tuesday, March 11th. National Bankshares reaffirmed an "outperform" rating on shares of Pan American Silver in a research report on Wednesday, April 2nd. Royal Bank of Canada raised their price target on shares of Pan American Silver from $28.00 to $30.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 11th. Finally, StockNews.com downgraded Pan American Silver from a "buy" rating to a "hold" rating in a research report on Wednesday, April 2nd. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Pan American Silver presently has an average rating of "Hold" and a consensus target price of $28.50.

Pan American Silver Trading Down 2.9 %

Shares of PAAS traded down $0.82 during midday trading on Monday, hitting $27.20. The stock had a trading volume of 3,654,412 shares, compared to its average volume of 3,698,337. Pan American Silver has a fifty-two week low of $17.86 and a fifty-two week high of $28.60. The company has a current ratio of 2.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.16. The firm has a market cap of $9.85 billion, a P/E ratio of 85.00 and a beta of 1.06. The business has a 50-day simple moving average of $25.05 and a two-hundred day simple moving average of $23.27.

Pan American Silver (NYSE:PAAS - Get Free Report) TSE: PAAS last announced its quarterly earnings results on Wednesday, February 19th. The basic materials company reported $0.35 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.35. Pan American Silver had a return on equity of 6.14% and a net margin of 3.98%. The business had revenue of $815.10 million during the quarter, compared to analyst estimates of $805.20 million. As a group, equities analysts forecast that Pan American Silver will post 1.26 EPS for the current year.

Institutional Trading of Pan American Silver

Several hedge funds have recently modified their holdings of PAAS. Norges Bank bought a new position in Pan American Silver in the 4th quarter valued at $91,916,000. Jupiter Asset Management Ltd. acquired a new position in Pan American Silver during the 4th quarter worth about $24,083,000. Hsbc Holdings PLC increased its position in Pan American Silver by 661.2% in the 4th quarter. Hsbc Holdings PLC now owns 1,307,617 shares of the basic materials company's stock valued at $26,300,000 after acquiring an additional 1,135,839 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of Pan American Silver by 110.0% in the fourth quarter. Renaissance Technologies LLC now owns 1,498,246 shares of the basic materials company's stock worth $30,295,000 after acquiring an additional 784,906 shares during the last quarter. Finally, Man Group plc grew its stake in shares of Pan American Silver by 381.7% during the fourth quarter. Man Group plc now owns 947,560 shares of the basic materials company's stock valued at $19,160,000 after purchasing an additional 750,858 shares during the last quarter. Institutional investors and hedge funds 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.