Scotiabank Increases Pan American Silver (NYSE:PAAS) Price Target to $32.00

Pan American Silver (NYSE:PAAS) (TSE:PAAS) had its target price boosted by equities researchers at Scotiabank from $28.50 to $32.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has a “sector outperform” rating on the basic materials company’s stock. Scotiabank’s price target points to a potential upside of 20.75% from the company’s previous close.

Several other analysts have also issued reports on the stock. 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 target price on shares of Pan American Silver from $28.00 to $30.00 and gave the company an “outperform” rating in a research note on Tuesday, February 11th. TD Securities downgraded Pan American Silver from a “buy” rating to a “hold” rating and lowered their price target for the stock from $28.00 to $27.00 in a research report on Tuesday, March 11th. Finally, StockNews.com cut Pan American Silver from a “buy” rating to a “hold” rating in a research report on Wednesday, April 2nd. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $28.50.

Pan American Silver Stock Up 2.4 %

NYSE:PAAS traded up $0.62 on Monday, hitting $26.50. 2,059,200 shares of the company’s stock were exchanged, compared to its average volume of 3,715,039. The company has a market cap of $9.60 billion, a P/E ratio of 82.82 and a beta of 1.06. The firm has a 50-day moving average price of $24.79 and a 200-day moving average price of $23.09. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.50 and a quick ratio of 0.96. Pan American Silver has a 52 week low of $17.86 and a 52 week high of $27.47.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last issued its quarterly earnings results on Wednesday, February 19th. The basic materials company reported $0.35 EPS for the quarter, meeting the consensus estimate of $0.35. The firm had revenue of $815.10 million during 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%. As a group, analysts expect that Pan American Silver will post 1.26 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Comprehensive Financial Planning Inc. PA bought a new stake in shares of Pan American Silver in the fourth quarter valued at about $27,000. Laurel Wealth Advisors LLC bought a new stake in Pan American Silver in the 4th quarter valued at about $30,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Pan American Silver during the 3rd quarter worth approximately $32,000. Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of Pan American Silver during the fourth quarter worth approximately $32,000. Finally, Decker Retirement Planning Inc. bought a new stake in shares of Pan American Silver in the fourth quarter valued at approximately $32,000. 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.