Brokerages Set Pan American Silver Corp. (PAAS) Price Target at $20.88

Shares of Pan American Silver Corp. (NASDAQ:PAAS) (TSE:PAAS) have earned a consensus recommendation of “Buy” from the fifteen brokerages that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and nine have issued a buy recommendation on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $20.88.

Several brokerages have commented on PAAS. Scotiabank lowered Pan American Silver from an “outperform” rating to a “sector perform” rating and set a $18.00 price objective on the stock. in a report on Monday, July 16th. BidaskClub lowered Pan American Silver from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 31st. ValuEngine lowered Pan American Silver from a “hold” rating to a “sell” rating in a report on Wednesday, August 15th. TD Securities set a $23.00 price target on Pan American Silver and gave the stock a “buy” rating in a research note on Thursday, August 9th. Finally, Canaccord Genuity reaffirmed a “buy” rating and issued a $20.00 price target on shares of Pan American Silver in a research note on Friday, July 13th.

Shares of PAAS opened at $15.07 on Friday. Pan American Silver has a 12 month low of $13.97 and a 12 month high of $18.75. The company has a market capitalization of $2.37 billion, a price-to-earnings ratio of 29.55, a price-to-earnings-growth ratio of 6.89 and a beta of 0.21.

Pan American Silver (NASDAQ:PAAS) (TSE:PAAS) last issued its quarterly earnings data on Wednesday, August 8th. The basic materials company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.16 by $0.07. Pan American Silver had a return on equity of 7.06% and a net margin of 17.95%. The company had revenue of $216.46 million for the quarter, compared to analyst estimates of $213.63 million. Equities research analysts anticipate that Pan American Silver will post 0.56 EPS for the current year.

Several large investors have recently modified their holdings of PAAS. Lincoln National Corp acquired a new stake in shares of Pan American Silver in the second quarter worth approximately $224,000. Gamco Investors INC. ET AL acquired a new stake in shares of Pan American Silver in the second quarter worth approximately $297,000. Sigma Planning Corp boosted its stake in shares of Pan American Silver by 22.7% in the second quarter. Sigma Planning Corp now owns 18,168 shares of the basic materials company’s stock worth $325,000 after acquiring an additional 3,367 shares during the last quarter. Fiera Capital Corp boosted its stake in shares of Pan American Silver by 26.7% in the second quarter. Fiera Capital Corp now owns 19,000 shares of the basic materials company’s stock worth $341,000 after acquiring an additional 4,000 shares during the last quarter. Finally, GAM Holding AG acquired a new stake in shares of Pan American Silver in the second quarter worth approximately $397,000. 49.23% of the stock is currently owned by hedge funds and other institutional investors.

Pan American Silver Company Profile

Pan American Silver Corp., together with its subsidiaries, engages in exploration, extraction, processing, refining, and reclamation of silver mines. The company owns and operates silver mines located in Peru, Mexico, Argentina, and Bolivia. It also produces and sells gold, zinc, lead, and copper. The company holds interests in the La Colorada, Dolores, Alamo Dorado, Huaron, Morococha, Manantial Espejo, and San Vicente mines.

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Analyst Recommendations for Pan American Silver (NASDAQ:PAAS)

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