Jefferies Financial Group Increases Pan American Silver (NYSE:PAAS) Price Target to $23.00

Pan American Silver (NYSE:PAAS) (TSE:PAAS) had its price target upped by stock analysts at Jefferies Financial Group from $21.00 to $23.00 in a note issued to investors on Friday, Benzinga reports. The firm currently has a “hold” rating on the basic materials company’s stock. Jefferies Financial Group’s target price would suggest a potential upside of 6.93% from the company’s current price.

Several other equities analysts have also recently weighed in on PAAS. Royal Bank of Canada raised their price objective on Pan American Silver from $25.00 to $27.00 and gave the company an “outperform” rating in a report on Tuesday, September 10th. CIBC raised their price target on Pan American Silver from $30.00 to $35.00 and gave the company an “outperformer” rating in a research note on Wednesday, July 10th. Finally, Scotiabank upped their price objective on Pan American Silver from $23.00 to $26.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, July 16th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Pan American Silver has an average rating of “Moderate Buy” and a consensus target price of $24.93.

Pan American Silver Trading Up 0.7 %

NYSE PAAS opened at $21.51 on Friday. Pan American Silver has a 52 week low of $12.16 and a 52 week high of $24.27. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.92 and a current ratio of 2.06. The stock’s 50 day moving average price is $20.65 and its two-hundred day moving average price is $20.05. The stock has a market capitalization of $7.81 billion, a price-to-earnings ratio of -46.76 and a beta of 1.35.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last announced its quarterly earnings data on Wednesday, August 7th. The basic materials company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.04). The business had revenue of $686.30 million during the quarter, compared to the consensus estimate of $696.08 million. Pan American Silver had a positive return on equity of 0.66% and a negative net margin of 5.54%. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.04 EPS. As a group, analysts anticipate that Pan American Silver will post 0.61 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in PAAS. Tidal Investments LLC lifted its holdings in Pan American Silver by 15,618.3% during the 1st quarter. Tidal Investments LLC now owns 3,803,507 shares of the basic materials company’s stock valued at $57,340,000 after purchasing an additional 3,779,309 shares during the last quarter. Driehaus Capital Management LLC bought a new stake in shares of Pan American Silver during the 2nd quarter worth about $38,116,000. Bank of New York Mellon Corp grew its stake in Pan American Silver by 366.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,601,137 shares of the basic materials company’s stock valued at $31,831,000 after buying an additional 1,258,205 shares during the last quarter. Mackenzie Financial Corp raised its holdings in Pan American Silver by 51.1% in the 2nd quarter. Mackenzie Financial Corp now owns 3,124,517 shares of the basic materials company’s stock valued at $62,107,000 after acquiring an additional 1,056,981 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its position in Pan American Silver by 71.3% during the fourth quarter. The Manufacturers Life Insurance Company now owns 1,889,808 shares of the basic materials company’s stock worth $30,899,000 after acquiring an additional 786,525 shares during the last quarter. 55.43% of the stock is owned by institutional investors and hedge funds.

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.