Pan American Silver (NYSE:PAAS) Downgraded to Hold Rating by TD Securities

Pan American Silver (NYSE:PAAS) (TSE:PAAS) was downgraded by equities researchers at TD Securities from a “buy” rating to a “hold” rating in a research report issued on Tuesday,BayStreet.CA reports. They currently have a $27.00 price target on the basic materials company’s stock, down from their prior price target of $28.00. TD Securities’ target price suggests a potential upside of 12.08% from the stock’s previous close.

Several other brokerages also recently weighed in on PAAS. Scotiabank lifted their price target on shares of Pan American Silver from $28.00 to $28.50 and gave the company a “sector outperform” rating in a report on Tuesday, February 25th. Royal Bank of Canada lifted their price objective on Pan American Silver from $28.00 to $30.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 11th. Finally, StockNews.com lowered Pan American Silver from a “buy” rating to a “hold” rating in a research report on Sunday, December 1st. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Pan American Silver presently has an average rating of “Hold” and an average price target of $27.92.

Pan American Silver Stock Up 3.0 %

Shares of PAAS traded up $0.70 on Tuesday, reaching $24.09. The stock had a trading volume of 2,739,226 shares, compared to its average volume of 3,816,588. The company has a 50-day simple moving average of $23.09 and a 200-day simple moving average of $22.27. The firm has a market capitalization of $8.72 billion, a price-to-earnings ratio of 75.25 and a beta of 1.25. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.96 and a current ratio of 2.50. Pan American Silver has a 12-month low of $13.52 and a 12-month high of $26.05.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last released its quarterly earnings data 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. The business had revenue of $815.10 million for the quarter, compared to analysts’ expectations of $805.20 million. Pan American Silver had a return on equity of 6.14% and a net margin of 3.98%. Sell-side analysts predict that Pan American Silver will post 1.26 EPS for the current year.

Hedge Funds Weigh In On Pan American Silver

Large investors have recently made changes to their positions in the business. Comprehensive Financial Planning Inc. PA purchased a new stake in shares of Pan American Silver during the fourth quarter valued at $27,000. Laurel Wealth Advisors LLC purchased a new stake in Pan American Silver in the 4th quarter worth approximately $30,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Pan American Silver in the third quarter worth about $32,000. Decker Retirement Planning Inc. purchased a new position in Pan American Silver during the fourth quarter worth approximately $32,000. Finally, Bank Julius Baer & Co. Ltd Zurich purchased a new stake in Pan American Silver in the 4th quarter worth $32,000. 55.43% of the stock is owned by institutional investors and hedge funds.

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.