Pan American Silver (NYSE:PAAS) Stock Price Expected to Rise, Royal Bank of Canada Analyst Says

Pan American Silver (NYSE:PAAS) (TSE:PAAS) had its price objective hoisted by research analysts at Royal Bank of Canada from $28.00 to $30.00 in a research report issued on Tuesday,BayStreet.CA reports. The firm currently has an “outperform” rating on the basic materials company’s stock. Royal Bank of Canada’s price objective indicates a potential upside of 18.91% from the stock’s current price.

Separately, StockNews.com downgraded shares of 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 three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $25.92.

Pan American Silver Trading Up 3.8 %

PAAS opened at $25.23 on Tuesday. The company has a current ratio of 2.06, a quick ratio of 0.96 and a debt-to-equity ratio of 0.16. The firm has a market cap of $9.16 billion, a price-to-earnings ratio of -148.40 and a beta of 1.28. Pan American Silver has a 12 month low of $12.16 and a 12 month high of $26.05. The stock has a fifty day moving average price of $22.09 and a 200-day moving average price of $21.79.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of PAAS. Van ECK Associates Corp grew its position in Pan American Silver by 6.3% during the 3rd quarter. Van ECK Associates Corp now owns 39,512,808 shares of the basic materials company’s stock worth $824,632,000 after purchasing an additional 2,328,306 shares during the period. Vanguard Group Inc. boosted its stake in shares of Pan American Silver by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 14,008,185 shares of the basic materials company’s stock worth $283,385,000 after buying an additional 221,561 shares during the last quarter. Norges Bank acquired a new stake in Pan American Silver during the fourth quarter worth about $91,916,000. Geode Capital Management LLC grew its holdings in Pan American Silver by 32.2% during the fourth quarter. Geode Capital Management LLC now owns 2,027,461 shares of the basic materials company’s stock worth $40,776,000 after acquiring an additional 494,133 shares during the period. Finally, Ingalls & Snyder LLC raised its position in Pan American Silver by 5.4% during the fourth quarter. Ingalls & Snyder LLC now owns 1,726,999 shares of the basic materials company’s stock valued at $34,920,000 after acquiring an additional 89,011 shares in the last quarter. 55.43% of the stock is currently owned by hedge funds and other 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.