Pan American Silver (NYSE:PAAS) Price Target Raised to $30.00 at CIBC

Pan American Silver (NYSE:PAAS) (TSE:PAAS) had its price objective upped by analysts at CIBC from $27.50 to $30.00 in a note issued to investors on Wednesday, MarketBeat reports. The brokerage currently has an “outperform” rating on the basic materials company’s stock. CIBC’s price target would suggest a potential upside of 44.02% from the company’s current price.

Several other analysts have also recently commented on the stock. StockNews.com upgraded shares of Pan American Silver from a “sell” rating to a “hold” rating in a research report on Saturday, May 11th. BMO Capital Markets raised their target price on shares of Pan American Silver from $22.00 to $24.00 in a report on Tuesday. Jefferies Financial Group upped their price target on shares of Pan American Silver from $14.00 to $17.00 and gave the company a “hold” rating in a report on Monday, April 22nd. Scotiabank boosted their price objective on shares of Pan American Silver from $19.50 to $20.00 and gave the company a “sector outperform” rating in a research report on Monday, April 8th. Finally, TD Securities lowered their target price on Pan American Silver from $18.50 to $17.50 and set a “buy” rating for the company in a report on Friday, February 23rd. Two analysts have rated the stock with a hold rating and five 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 $22.25.

Pan American Silver Price Performance

Shares of PAAS stock opened at $20.83 on Wednesday. The company has a current ratio of 2.11, a quick ratio of 0.92 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $7.56 billion, a price-to-earnings ratio of -45.28, a PEG ratio of 2.82 and a beta of 1.36. The firm’s 50 day moving average is $18.06 and its 200-day moving average is $15.66. Pan American Silver has a 1 year low of $12.16 and a 1 year high of $22.68.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last announced its quarterly earnings data on Wednesday, May 8th. The basic materials company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.07. Pan American Silver had a positive return on equity of 0.13% and a negative net margin of 6.68%. The firm had revenue of $601.40 million during the quarter, compared to analysts’ expectations of $592.58 million. During the same period in the previous year, the business posted $0.10 EPS. The company’s quarterly revenue was up 54.1% compared to the same quarter last year. Sell-side analysts forecast that Pan American Silver will post 0.41 EPS for the current fiscal year.

Institutional Trading of Pan American Silver

Hedge funds and other institutional investors have recently modified their holdings of the stock. Van ECK Associates Corp raised its position in Pan American Silver by 11.8% during the fourth quarter. Van ECK Associates Corp now owns 45,833,375 shares of the basic materials company’s stock worth $748,460,000 after acquiring an additional 4,842,547 shares in the last quarter. Norges Bank acquired a new stake in Pan American Silver in the 4th quarter valued at about $63,066,000. Tidal Investments LLC grew its holdings in Pan American Silver by 15,618.3% during the first quarter. Tidal Investments LLC now owns 3,803,507 shares of the basic materials company’s stock worth $57,340,000 after purchasing an additional 3,779,309 shares during the period. The Manufacturers Life Insurance Company increased its position in Pan American Silver by 71.3% during the fourth quarter. The Manufacturers Life Insurance Company now owns 1,889,808 shares of the basic materials company’s stock worth $30,899,000 after buying an additional 786,525 shares during the last quarter. Finally, American Century Companies Inc. raised its stake in Pan American Silver by 104.5% in the third quarter. American Century Companies Inc. now owns 1,207,185 shares of the basic materials company’s stock valued at $17,479,000 after buying an additional 616,804 shares during the period. Institutional investors and hedge funds 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.