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

Pan American Silver (NYSE:PAAS) (TSE:PAAS) had its target price raised by research analysts at Jefferies Financial Group from $21.00 to $23.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has a “hold” rating on the basic materials company’s stock. Jefferies Financial Group’s price target points to a potential upside of 7.28% from the company’s current price.

A number of other analysts also recently commented on the stock. CIBC increased their price objective on shares of Pan American Silver from $30.00 to $35.00 and gave the company an “outperformer” rating in a report on Wednesday, July 10th. Scotiabank raised their price target on shares of Pan American Silver from $23.00 to $26.00 and gave the stock a “sector outperform” rating in a report on Tuesday, July 16th. Finally, Royal Bank of Canada raised their price target on shares of Pan American Silver from $25.00 to $27.00 and gave the stock an “outperform” rating in a report on Tuesday, September 10th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.93.

Pan American Silver Price Performance

PAAS stock traded up $0.08 during mid-day trading on Friday, reaching $21.44. The company’s stock had a trading volume of 1,909,089 shares, compared to its average volume of 4,117,517. The stock has a market cap of $7.78 billion, a PE ratio of -46.67 and a beta of 1.35. The company has a current ratio of 2.06, a quick ratio of 0.92 and a debt-to-equity ratio of 0.16. Pan American Silver has a fifty-two week low of $12.16 and a fifty-two week high of $24.27. The company’s 50 day moving average is $20.65 and its two-hundred day moving average is $20.00.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last released 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 analyst estimates of $696.08 million. Pan American Silver had a negative net margin of 5.54% and a positive return on equity of 0.66%. The firm’s revenue was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.04 EPS. Equities research analysts expect that Pan American Silver will post 0.61 EPS for the current year.

Hedge Funds Weigh In On Pan American Silver

Several institutional investors have recently modified their holdings of the business. CWM LLC grew its stake in shares of Pan American Silver by 31.6% in the second quarter. CWM LLC now owns 2,124 shares of the basic materials company’s stock worth $42,000 after acquiring an additional 510 shares in the last quarter. Signaturefd LLC grew its stake in shares of Pan American Silver by 11.6% in the second quarter. Signaturefd LLC now owns 7,469 shares of the basic materials company’s stock worth $148,000 after acquiring an additional 774 shares in the last quarter. Perritt Capital Management Inc. grew its stake in shares of 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 worth $35,000 after acquiring an additional 1,000 shares in the last quarter. SG Americas Securities LLC grew its stake in shares of Pan American Silver by 2.9% in 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 in the last quarter. Finally, Mark Sheptoff Financial Planning LLC grew its stake in shares of Pan American Silver by 943.4% in the second quarter. Mark Sheptoff Financial Planning LLC now owns 1,659 shares of the basic materials company’s stock worth $33,000 after acquiring an additional 1,500 shares in the last quarter. Institutional investors and hedge funds 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.