Pan American Silver (NYSE:PAAS) Price Target Increased to $22.00 by Analysts at Jefferies Financial Group

Pan American Silver (NYSE:PAAS) (TSE:PAAS) had its target price upped by research analysts at Jefferies Financial Group from $19.00 to $22.00 in a research report issued on Friday, Benzinga reports. The firm currently has a “hold” rating on the basic materials company’s stock. Jefferies Financial Group’s target price suggests a potential downside of 8.75% from the company’s current price.

Several other equities analysts have also recently issued reports on PAAS. BMO Capital Markets boosted their price target on shares of Pan American Silver from $22.00 to $24.00 in a research report on Tuesday, May 21st. StockNews.com upgraded shares of Pan American Silver from a “sell” rating to a “hold” rating in a report on Saturday, May 11th. Scotiabank upped their price objective on shares of Pan American Silver from $20.00 to $23.00 and gave the stock a “sector outperform” rating in a report on Thursday, May 23rd. Finally, CIBC upped their price objective on shares of Pan American Silver from $30.00 to $35.00 and gave the stock an “outperformer” rating in a report on Wednesday. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $23.92.

Pan American Silver Trading Up 0.5 %

Shares of NYSE:PAAS traded up $0.11 during midday trading on Friday, hitting $24.11. 750,174 shares of the stock traded hands, compared to its average volume of 4,379,688. Pan American Silver has a one year low of $12.16 and a one year high of $24.14. The company has a quick ratio of 0.92, a current ratio of 2.11 and a debt-to-equity ratio of 0.16. The business’s 50 day moving average is $20.68 and its two-hundred day moving average is $17.08. The stock has a market capitalization of $8.75 billion, a PE ratio of -52.41 and a beta of 1.31.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last announced its quarterly earnings results on Wednesday, May 8th. The basic materials company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.07. Pan American Silver had a negative net margin of 6.68% and a positive return on equity of 0.13%. The company had revenue of $601.40 million for the quarter, compared to analysts’ expectations of $592.58 million. During the same quarter in the previous year, the company earned $0.10 earnings per share. Pan American Silver’s quarterly revenue was up 54.1% on a year-over-year basis. As a group, research analysts forecast that Pan American Silver will post 0.59 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. CWM LLC raised its position in Pan American Silver by 31.6% in the second quarter. CWM LLC now owns 2,124 shares of the basic materials company’s stock worth $42,000 after acquiring an additional 510 shares during the period. Perritt Capital Management Inc. raised its position in Pan American Silver by 76.9% in the first quarter. Perritt Capital Management Inc. now owns 2,300 shares of the basic materials company’s stock worth $35,000 after acquiring an additional 1,000 shares during the period. CVA Family Office LLC bought a new position in Pan American Silver in the fourth quarter worth approximately $46,000. Parkside Financial Bank & Trust raised its position in Pan American Silver by 455.9% in the fourth quarter. Parkside Financial Bank & Trust now owns 3,658 shares of the basic materials company’s stock worth $60,000 after acquiring an additional 3,000 shares during the period. Finally, UniSuper Management Pty Ltd raised its position in Pan American Silver by 73.3% in the first quarter. UniSuper Management Pty Ltd now owns 5,200 shares of the basic materials company’s stock worth $78,000 after acquiring an additional 2,200 shares during the period. 55.43% of the stock is currently owned by institutional investors.

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.