Pan American Silver (NYSE:PAAS) Stock Price Expected to Rise, Royal Bank of Canada Analyst Says

Pan American Silver (NYSE:PAAS) (TSE:PAAS) had its price objective lifted by analysts at Royal Bank of Canada from $28.00 to $30.00 in a report issued on Tuesday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the basic materials company’s stock. Royal Bank of Canada’s price target would suggest a potential upside of 20.90% from the company’s current price.

Separately, StockNews.com cut shares of Pan American Silver from a “buy” rating to a “hold” rating in a research report on Sunday, December 1st. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $25.92.

Pan American Silver Price Performance

PAAS traded down $0.36 during trading on Tuesday, hitting $24.81. 1,230,906 shares of the stock traded hands, compared to its average volume of 2,811,540. The business has a 50 day moving average price of $22.01 and a 200 day moving average price of $21.74. The company has a market cap of $9.01 billion, a price-to-earnings ratio of -146.08 and a beta of 1.28. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.06 and a quick ratio of 0.96. Pan American Silver has a twelve month low of $12.16 and a twelve month high of $26.05.

Hedge Funds Weigh In On Pan American Silver

A number of hedge funds and other institutional investors have recently bought and sold shares of PAAS. American Century Companies Inc. increased its stake in shares of Pan American Silver by 3.9% in the 4th quarter. American Century Companies Inc. now owns 1,392,853 shares of the basic materials company’s stock worth $28,168,000 after acquiring an additional 52,777 shares in the last quarter. Semanteon Capital Management LP purchased a new position in Pan American Silver during the fourth quarter worth $1,017,000. Northwest & Ethical Investments L.P. lifted its stake in Pan American Silver by 1.4% in the fourth quarter. Northwest & Ethical Investments L.P. now owns 70,451 shares of the basic materials company’s stock worth $1,423,000 after acquiring an additional 972 shares during the period. Boston Partners bought a new position in Pan American Silver in the fourth quarter worth about $561,000. Finally, Cadence Wealth Management LLC increased its holdings in shares of Pan American Silver by 3.2% during the fourth quarter. Cadence Wealth Management LLC now owns 39,788 shares of the basic materials company’s stock valued at $805,000 after acquiring an additional 1,229 shares in the last quarter. Hedge funds and other institutional investors own 55.43% of the company’s stock.

Pan American Silver Company Profile

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.