Pan American Silver (NYSE:PAAS) Given New $30.00 Price Target at CIBC

Pan American Silver (NYSE:PAAS) (TSE:PAAS) had its price objective increased by research analysts at CIBC from $27.50 to $30.00 in a note issued to investors on Wednesday, BayStreet.CA reports. The brokerage currently has an “outperform” rating on the basic materials company’s stock. CIBC’s price target would indicate a potential upside of 38.82% from the company’s current price.

PAAS has been the subject of a number of other research reports. TD Securities lowered their price target on Pan American Silver from $18.50 to $17.50 and set a “buy” rating for the company in a research report on Friday, February 23rd. StockNews.com upgraded Pan American Silver from a “sell” rating to a “hold” rating in a research report on Saturday, May 11th. BMO Capital Markets raised their price target on shares of Pan American Silver from $22.00 to $24.00 in a research report on Tuesday. Scotiabank upped 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 report on Monday, April 8th. Finally, Jefferies Financial Group boosted their target price on shares of Pan American Silver from $14.00 to $17.00 and gave the company a “hold” rating in a research report on Monday, April 22nd. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $21.75.

Pan American Silver Stock Down 2.7 %

NYSE PAAS traded down $0.61 during trading on Wednesday, hitting $21.61. The company’s stock had a trading volume of 3,635,059 shares, compared to its average volume of 4,508,641. Pan American Silver has a fifty-two week low of $12.16 and a fifty-two week high of $22.68. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.11 and a quick ratio of 0.92. The company has a market cap of $7.84 billion, a PE ratio of -46.96, a P/E/G ratio of 2.85 and a beta of 1.36. The business’s 50 day simple moving average is $17.79 and its 200-day simple moving average is $15.59.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last released its earnings results 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. The company had revenue of $601.40 million for the quarter, compared to the consensus estimate of $592.58 million. Pan American Silver had a negative net margin of 6.68% and a positive return on equity of 0.13%. Pan American Silver’s revenue was up 54.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.10 EPS. On average, equities analysts anticipate that Pan American Silver will post 0.41 EPS for the current fiscal year.

Hedge Funds Weigh In On Pan American Silver

Institutional investors and hedge funds have recently modified their holdings of the business. Euro Pacific Asset Management LLC grew its position in shares of Pan American Silver by 2.0% in the third quarter. Euro Pacific Asset Management LLC now owns 1,392,979 shares of the basic materials company’s stock valued at $20,160,000 after purchasing an additional 27,932 shares during the period. CM Management LLC increased its stake in Pan American Silver by 87.5% during the 3rd quarter. CM Management LLC now owns 75,000 shares of the basic materials company’s stock worth $1,086,000 after buying an additional 35,000 shares in the last quarter. Monaco Asset Management SAM raised its holdings in shares of Pan American Silver by 82.9% during the third quarter. Monaco Asset Management SAM now owns 625,000 shares of the basic materials company’s stock valued at $9,050,000 after acquiring an additional 283,315 shares during the last quarter. Virtus ETF Advisers LLC lifted its position in shares of Pan American Silver by 14.2% in the third quarter. Virtus ETF Advisers LLC now owns 13,791 shares of the basic materials company’s stock valued at $200,000 after acquiring an additional 1,713 shares in the last quarter. Finally, Qsemble Capital Management LP acquired a new stake in shares of Pan American Silver in the third quarter worth approximately $560,000. Hedge funds and other institutional investors 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.