B. Riley Cuts Pan American Silver (NASDAQ:PAAS) Price Target to $19.00

Pan American Silver (NASDAQ:PAAS) (TSE:PAAS) had its price objective cut by investment analysts at B. Riley from $23.20 to $19.00 in a report released on Monday, BenzingaRatingsTable reports. The brokerage currently has a “neutral” rating on the basic materials company’s stock. B. Riley’s price objective would suggest a potential upside of 19.08% from the company’s previous close.

PAAS has been the topic of several other research reports. BidaskClub lowered Pan American Silver from a “hold” rating to a “sell” rating in a research note on Thursday. TD Securities increased their price target on Pan American Silver from $20.00 to $22.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Zacks Investment Research upgraded Pan American Silver from a “hold” rating to a “buy” rating and set a $21.00 price target for the company in a report on Thursday, August 29th. National Bank Financial upgraded Pan American Silver from a “sector perform” rating to an “outperform” rating and set a $31.00 price target for the company in a report on Friday, August 30th. Finally, Royal Bank of Canada upgraded Pan American Silver from a “sector perform” rating to an “outperform” rating and increased their price target for the stock from $17.00 to $23.00 in a report on Thursday, September 5th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the stock. Pan American Silver presently has an average rating of “Buy” and a consensus target price of $20.66.

NASDAQ:PAAS traded down $0.44 during mid-day trading on Monday, hitting $15.96. The company had a trading volume of 1,641,000 shares, compared to its average volume of 2,892,809. Pan American Silver has a fifty-two week low of $10.26 and a fifty-two week high of $19.48. The business’s fifty day moving average is $16.86 and its two-hundred day moving average is $14.29. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.98 and a current ratio of 4.08. The firm has a market cap of $3.42 billion, a P/E ratio of 40.91, a P/E/G ratio of 9.68 and a beta of -0.03.

Pan American Silver (NASDAQ:PAAS) (TSE:PAAS) last released its earnings results on Wednesday, August 7th. The basic materials company reported $0.04 earnings per share for the quarter, meeting the consensus estimate of $0.04. Pan American Silver had a positive return on equity of 0.56% and a negative net margin of 2.39%. The firm had revenue of $282.90 million for the quarter, compared to analyst estimates of $320.98 million. During the same quarter in the prior year, the firm posted $0.23 earnings per share. The company’s quarterly revenue was up 30.7% on a year-over-year basis. Equities analysts forecast that Pan American Silver will post 0.42 earnings per share for the current year.

Several institutional investors have recently made changes to their positions in the business. Renaissance Technologies LLC increased its holdings in shares of Pan American Silver by 21.1% in the second quarter. Renaissance Technologies LLC now owns 8,805,213 shares of the basic materials company’s stock worth $113,678,000 after acquiring an additional 1,533,595 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Pan American Silver by 10.9% during the second quarter. Vanguard Group Inc. now owns 5,495,778 shares of the basic materials company’s stock worth $70,950,000 after buying an additional 538,363 shares in the last quarter. Investec Asset Management LTD grew its holdings in shares of Pan American Silver by 22.8% during the second quarter. Investec Asset Management LTD now owns 4,470,052 shares of the basic materials company’s stock worth $57,708,000 after buying an additional 829,417 shares in the last quarter. Tocqueville Asset Management L.P. grew its holdings in shares of Pan American Silver by 1.3% during the second quarter. Tocqueville Asset Management L.P. now owns 4,459,626 shares of the basic materials company’s stock worth $57,574,000 after buying an additional 58,100 shares in the last quarter. Finally, Morgan Stanley grew its holdings in shares of Pan American Silver by 15.6% during the second quarter. Morgan Stanley now owns 3,902,979 shares of the basic materials company’s stock worth $50,387,000 after buying an additional 527,447 shares in the last quarter. Institutional investors own 50.84% of the company’s stock.

About Pan American Silver

Pan American Silver Corp., together with its subsidiaries, engages in the exploration, development, extraction, processing, refining, and reclamation of silver mines. The company owns and operates mines located in Mexico, Peru, Canada, Argentina, and Bolivia. It also produces and sells gold, zinc, lead, and copper.

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Analyst Recommendations for Pan American Silver (NASDAQ:PAAS)

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