Zacks Investment Research cut shares of Pan American Silver (NASDAQ:PAAS) (TSE:PAAS) from a buy rating to a hold rating in a research report sent to investors on Thursday morning.
According to Zacks, “PAN AMER SILVER is a mining company focused exclusively on silver. Pan American Silver Corp. is founded upon a single mission, to become the best vehicle for equity investors wanting to gain real exposure to higher silver prices. To accomplish this they are striving to increase their low-cost silver production, to have the most successful silver exploration programs, to hold the largest silver reserves and resources, and to be the purest of the world’s large silver producers. “
A number of other brokerages also recently issued reports on PAAS. Canaccord Genuity restated a buy rating and issued a $25.00 price target on shares of Pan American Silver in a research report on Tuesday. Deutsche Bank set a $18.00 price target on Pan American Silver and gave the stock a hold rating in a research report on Tuesday, October 2nd. ValuEngine upgraded Pan American Silver from a sell rating to a hold rating in a research report on Thursday, October 4th. BidaskClub upgraded Pan American Silver from a strong sell rating to a sell rating in a research report on Tuesday, November 13th. Finally, Bank of America downgraded Pan American Silver from a neutral rating to an underperform rating and lowered their price target for the stock from $16.70 to $12.75 in a research report on Monday, November 19th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company’s stock. Pan American Silver presently has an average rating of Hold and an average target price of $18.72.
Pan American Silver (NASDAQ:PAAS) (TSE:PAAS) last posted its earnings results on Tuesday, November 6th. The basic materials company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.10). The firm had revenue of $187.70 million for the quarter, compared to the consensus estimate of $193.93 million. Pan American Silver had a net margin of 14.75% and a return on equity of 5.15%. The firm’s revenue was down 1.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.15 earnings per share. On average, equities analysts expect that Pan American Silver will post 0.43 EPS for the current fiscal year.
Institutional investors and hedge funds have recently modified their holdings of the stock. Russell Investments Group Ltd. grew its holdings in Pan American Silver by 25.2% in the second quarter. Russell Investments Group Ltd. now owns 152,687 shares of the basic materials company’s stock worth $2,699,000 after purchasing an additional 30,748 shares during the period. BlackRock Inc. grew its holdings in Pan American Silver by 16.0% in the second quarter. BlackRock Inc. now owns 111,758 shares of the basic materials company’s stock worth $2,000,000 after purchasing an additional 15,378 shares during the period. Dimensional Fund Advisors LP grew its holdings in Pan American Silver by 0.4% in the second quarter. Dimensional Fund Advisors LP now owns 753,267 shares of the basic materials company’s stock worth $13,483,000 after purchasing an additional 3,296 shares during the period. FMR LLC grew its holdings in Pan American Silver by 5.9% in the second quarter. FMR LLC now owns 3,456,637 shares of the basic materials company’s stock worth $61,874,000 after purchasing an additional 193,900 shares during the period. Finally, Voya Investment Management LLC grew its holdings in Pan American Silver by 24.5% in the second quarter. Voya Investment Management LLC now owns 71,490 shares of the basic materials company’s stock worth $1,280,000 after purchasing an additional 14,070 shares during the period. Institutional investors own 51.25% of the company’s stock.
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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