Scotiabank Forecasts Strong Price Appreciation for Pan American Silver (NYSE:PAAS) Stock

Pan American Silver (NYSE:PAAS) (TSE:PAAS) had its price objective lifted by equities research analysts at Scotiabank from $28.00 to $28.50 in a report issued on Tuesday,Benzinga reports. The firm currently has a “sector outperform” rating on the basic materials company’s stock. Scotiabank’s price objective would indicate a potential upside of 18.90% from the company’s current price.

Several other equities analysts have also recently weighed in on the stock. StockNews.com cut shares of Pan American Silver from a “buy” rating to a “hold” rating in a research report on Sunday, December 1st. Royal Bank of Canada upped their target price on Pan American Silver from $28.00 to $30.00 and gave the company an “outperform” rating in a report on Tuesday, February 11th. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $28.10.

Pan American Silver Stock Down 2.7 %

Shares of Pan American Silver stock traded down $0.66 during trading on Tuesday, reaching $23.97. 858,516 shares of the company traded hands, compared to its average volume of 2,975,573. The company has a 50 day moving average price of $22.40 and a 200-day moving average price of $22.01. Pan American Silver has a 1-year low of $12.19 and a 1-year high of $26.05. The firm has a market capitalization of $8.68 billion, a PE ratio of 74.91 and a beta of 1.28. 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 (NYSE:PAAS) (TSE:PAAS) last issued its earnings results on Wednesday, February 19th. The basic materials company reported $0.35 EPS for the quarter, meeting analysts’ consensus estimates of $0.35. The business had revenue of $815.10 million during the quarter, compared to analyst estimates 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, equities research analysts expect that Pan American Silver will post 1.26 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Pan American Silver

Institutional investors and hedge funds have recently made changes to their positions in the business. Van ECK Associates Corp lifted its position in Pan American Silver by 6.3% during the third quarter. Van ECK Associates Corp now owns 39,512,808 shares of the basic materials company’s stock valued at $824,632,000 after purchasing an additional 2,328,306 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Pan American Silver by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 14,008,185 shares of the basic materials company’s stock valued at $283,385,000 after purchasing an additional 221,561 shares during the last quarter. FIL Ltd lifted its position in Pan American Silver by 4.6% in the 4th quarter. FIL Ltd now owns 13,388,644 shares of the basic materials company’s stock worth $270,848,000 after buying an additional 584,017 shares during the last quarter. Norges Bank purchased a new stake in Pan American Silver in the fourth quarter worth approximately $91,916,000. Finally, Ameriprise Financial Inc. boosted its stake in Pan American Silver by 18.3% in the fourth quarter. Ameriprise Financial Inc. now owns 3,146,182 shares of the basic materials company’s stock worth $63,658,000 after buying an additional 486,622 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.