Royal Bank of Canada Reiterates “Outperform” Rating for Pan American Silver (PAAS)

Pan American Silver (NASDAQ:PAAS) (TSE:PAAS)‘s stock had its “outperform” rating reissued by investment analysts at Royal Bank of Canada in a research note issued on Tuesday. They currently have a $22.00 price objective on the basic materials company’s stock. Royal Bank of Canada’s price objective points to a potential upside of 38.54% from the stock’s current price.

PAAS has been the topic of a number of other reports. Zacks Investment Research cut Pan American Silver from a “buy” rating to a “hold” rating in a research note on Thursday, January 4th. BidaskClub raised Pan American Silver from a “strong sell” rating to a “sell” rating in a research note on Thursday, December 21st. Canaccord Genuity reissued a “buy” rating and issued a $23.00 target price on shares of Pan American Silver in a research note on Friday, October 6th. CSFB raised their target price on Pan American Silver from $24.00 to $25.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 22nd. Finally, Citigroup raised Pan American Silver to an “outperform” rating in a research note on Tuesday, November 21st. One analyst has rated the stock with a sell rating, two have given a hold rating and twelve have given a buy rating to the company’s stock. Pan American Silver presently has an average rating of “Buy” and an average target price of $21.17.

Shares of Pan American Silver (NASDAQ PAAS) opened at $15.88 on Tuesday. Pan American Silver has a 12-month low of $13.99 and a 12-month high of $21.29. The firm has a market capitalization of $2,420.00, a PE ratio of 26.03, a price-to-earnings-growth ratio of 6.61 and a beta of 0.09.

Pan American Silver (NASDAQ:PAAS) (TSE:PAAS) last announced its quarterly earnings data on Wednesday, November 8th. The basic materials company reported $0.15 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.13 by $0.02. Pan American Silver had a return on equity of 5.12% and a net margin of 12.23%. The firm had revenue of $190.79 million for the quarter, compared to analysts’ expectations of $199.43 million. During the same period last year, the firm earned $0.24 earnings per share. The company’s revenue for the quarter was down 18.3% compared to the same quarter last year. analysts forecast that Pan American Silver will post 0.49 earnings per share for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in PAAS. BT Investment Management Ltd purchased a new position in shares of Pan American Silver during the second quarter valued at approximately $120,085,000. Van ECK Associates Corp lifted its holdings in shares of Pan American Silver by 59.6% during the second quarter. Van ECK Associates Corp now owns 17,773,808 shares of the basic materials company’s stock valued at $298,955,000 after purchasing an additional 6,640,625 shares during the last quarter. AJO LP purchased a new position in shares of Pan American Silver during the second quarter valued at approximately $12,239,000. Investec Asset Management LTD lifted its holdings in shares of Pan American Silver by 16.8% during the third quarter. Investec Asset Management LTD now owns 2,586,839 shares of the basic materials company’s stock valued at $44,106,000 after purchasing an additional 372,424 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in Pan American Silver by 452.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 431,069 shares of the basic materials company’s stock worth $7,251,000 after acquiring an additional 353,037 shares during the last quarter. Hedge funds and other institutional investors own 53.89% of the company’s stock.

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About Pan American Silver

Pan American Silver Corp. is a silver production company. The Company is principally engaged in the operation and development of, and exploration for, silver producing properties. The Company’s segments include Peru, Mexico, Argentina and Bolivia. The Company also produces and sells gold, zinc, lead and copper.

Analyst Recommendations for Pan American Silver (NASDAQ:PAAS)

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