Pan American Silver (NYSE:PAAS) Stock Rating Upgraded by StockNews.com

Pan American Silver (NYSE:PAAS) (TSE:PAAS) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Tuesday.

Several other brokerages have also recently commented on PAAS. Scotiabank raised their price objective on shares of Pan American Silver from $23.00 to $26.00 and gave the company a “sector outperform” rating in a research note on Tuesday, July 16th. Royal Bank of Canada boosted their price objective on shares of Pan American Silver from $25.00 to $27.00 and gave the company an “outperform” rating in a research report on Tuesday, September 10th. Finally, Jefferies Financial Group boosted their target price on shares of Pan American Silver from $21.00 to $23.00 and gave the company a “hold” rating in a report on Friday, October 4th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $24.93.

Pan American Silver Stock Up 1.4 %

Shares of NYSE PAAS traded up $0.31 during mid-day trading on Tuesday, reaching $22.00. The company had a trading volume of 3,545,170 shares, compared to its average volume of 4,068,036. The company has a current ratio of 2.06, a quick ratio of 0.92 and a debt-to-equity ratio of 0.16. The firm has a 50 day simple moving average of $21.97 and a two-hundred day simple moving average of $21.23. The stock has a market cap of $7.99 billion, a P/E ratio of -129.40 and a beta of 1.33. Pan American Silver has a 52-week low of $12.16 and a 52-week high of $26.05.

Hedge Funds Weigh In On Pan American Silver

A number of institutional investors have recently added to or reduced their stakes in the company. CWM LLC lifted its position in Pan American Silver by 31.6% during the second quarter. CWM LLC now owns 2,124 shares of the basic materials company’s stock worth $42,000 after purchasing an additional 510 shares during the period. US Bancorp DE boosted its holdings in shares of Pan American Silver by 13.4% during the 3rd quarter. US Bancorp DE now owns 5,600 shares of the basic materials company’s stock worth $117,000 after buying an additional 660 shares in the last quarter. Signaturefd LLC boosted its holdings in shares of Pan American Silver by 11.6% during the 2nd quarter. Signaturefd LLC now owns 7,469 shares of the basic materials company’s stock worth $148,000 after buying an additional 774 shares in the last quarter. Advisors Asset Management Inc. lifted its holdings in shares of Pan American Silver by 3.7% in the 3rd quarter. Advisors Asset Management Inc. now owns 26,751 shares of the basic materials company’s stock worth $558,000 after purchasing an additional 951 shares in the last quarter. Finally, Perritt Capital Management Inc. raised its position in Pan American Silver by 76.9% in the 1st quarter. Perritt Capital Management Inc. now owns 2,300 shares of the basic materials company’s stock valued at $35,000 after buying an additional 1,000 shares during the last quarter. 55.43% of the stock is currently 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.