Scotiabank Issues Positive Forecast for Pan American Silver (NYSE:PAAS) Stock Price

Pan American Silver (NYSE:PAAS) (TSE:PAAS) had its price objective hoisted by investment analysts at Scotiabank from $28.00 to $28.50 in a research note issued on Tuesday, Marketbeat.com reports. The brokerage currently has a “sector outperform” rating on the basic materials company’s stock. Scotiabank’s price objective points to a potential upside of 13.89% from the stock’s current price.

A number of other brokerages have also weighed in on PAAS. Royal Bank of Canada lifted their price objective on Pan American Silver from $28.00 to $30.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 11th. StockNews.com lowered 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 two have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $28.10.

Pan American Silver Price Performance

PAAS opened at $25.03 on Tuesday. The stock’s 50 day simple moving average is $22.54 and its 200 day simple moving average is $22.06. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.50 and a quick ratio of 0.96. Pan American Silver has a 1 year low of $12.19 and a 1 year high of $26.05. The firm has a market cap of $9.06 billion, a price-to-earnings ratio of 78.21 and a beta of 1.28.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last posted its quarterly earnings results on Wednesday, February 19th. The basic materials company reported $0.35 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.35. Pan American Silver had a return on equity of 6.14% and a net margin of 3.98%. The business had revenue of $815.10 million for the quarter, compared to analyst estimates of $805.20 million. As a group, analysts predict that Pan American Silver will post 1.26 earnings per share for the current year.

Institutional Investors Weigh In On Pan American Silver

Hedge funds have recently made changes to their positions in the company. Barclays PLC boosted its position in shares of Pan American Silver by 156.4% during the third quarter. Barclays PLC now owns 61,439 shares of the basic materials company’s stock valued at $1,282,000 after purchasing an additional 37,480 shares in the last quarter. Marlin Sams Capital Management LLC boosted its position in shares of Pan American Silver by 89.2% during the third quarter. Marlin Sams Capital Management LLC now owns 700,000 shares of the basic materials company’s stock valued at $14,609,000 after purchasing an additional 330,000 shares in the last quarter. International Assets Investment Management LLC bought a new stake in shares of Pan American Silver during the third quarter valued at approximately $1,659,000. Van ECK Associates Corp boosted its position in shares of Pan American Silver by 6.3% during the third quarter. Van ECK Associates Corp now owns 39,512,808 shares of the basic materials company’s stock valued at $824,632,000 after purchasing an additional 2,328,306 shares in the last quarter. Finally, Triasima Portfolio Management inc. bought a new stake in shares of Pan American Silver during the fourth quarter valued at approximately $2,911,000. 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.