CIBC Boosts Pan American Silver (NYSE:PAAS) Price Target to $35.00

Pan American Silver (NYSE:PAAS) (TSE:PAAS) had its target price boosted by investment analysts at CIBC from $30.00 to $35.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has an “outperformer” rating on the basic materials company’s stock. CIBC’s price target indicates a potential upside of 54.39% from the stock’s previous close.

PAAS has been the subject of a number of other research reports. BMO Capital Markets lifted their price objective on Pan American Silver from $22.00 to $24.00 in a research note on Tuesday, May 21st. Scotiabank lifted their price objective on Pan American Silver from $20.00 to $23.00 and gave the stock a “sector outperform” rating in a report on Thursday, May 23rd. Jefferies Financial Group boosted their target price on Pan American Silver from $14.00 to $17.00 and gave the stock a “hold” rating in a report on Monday, April 22nd. Finally, StockNews.com upgraded Pan American Silver from a “sell” rating to a “hold” rating in a report on Saturday, May 11th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.08.

Pan American Silver Stock Performance

PAAS stock traded up $1.18 during midday trading on Wednesday, reaching $22.67. The stock had a trading volume of 3,477,855 shares, compared to its average volume of 4,391,493. The stock has a market cap of $8.23 billion, a PE ratio of -49.28 and a beta of 1.31. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.92 and a current ratio of 2.11. The firm has a fifty day simple moving average of $20.49 and a two-hundred day simple moving average of $16.99. Pan American Silver has a 52-week low of $12.16 and a 52-week high of $22.75.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last released its quarterly earnings data on Wednesday, May 8th. The basic materials company reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.07. The business had revenue of $601.40 million during the quarter, compared to analyst estimates of $592.58 million. Pan American Silver had a positive return on equity of 0.13% and a negative net margin of 6.68%. The company’s revenue was up 54.1% on a year-over-year basis. During the same quarter last year, the business posted $0.10 EPS. As a group, equities research analysts anticipate that Pan American Silver will post 0.52 EPS for the current year.

Institutional Trading of Pan American Silver

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. 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 valued at $42,000 after purchasing an additional 510 shares during the period. Mn Services Vermogensbeheer B.V. raised its position in Pan American Silver by 0.5% in the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 174,400 shares of the basic materials company’s stock valued at $2,861,000 after purchasing an additional 900 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 valued at $35,000 after purchasing an additional 1,000 shares during the period. Franklin Resources Inc. increased its position in shares of Pan American Silver by 0.5% during the fourth quarter. Franklin Resources Inc. now owns 238,839 shares of the basic materials company’s stock worth $3,899,000 after acquiring an additional 1,169 shares during the period. Finally, SG Americas Securities LLC increased its position in shares of Pan American Silver by 2.9% during the first quarter. SG Americas Securities LLC now owns 47,330 shares of the basic materials company’s stock worth $714,000 after acquiring an additional 1,336 shares during the period. 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.