Pan American Silver (PAAS) Downgraded to Strong Sell at BidaskClub

Pan American Silver (NASDAQ:PAAS) (TSE:PAAS) was downgraded by equities researchers at BidaskClub from a “sell” rating to a “strong sell” rating in a research report issued to clients and investors on Tuesday, BidAskClub reports.

Other equities research analysts also recently issued research reports about the company. Canaccord Genuity restated a “buy” rating and set a $21.00 target price on shares of Pan American Silver in a research report on Friday, February 22nd. B. Riley restated a “neutral” rating and set a $12.50 target price (down previously from $22.00) on shares of Pan American Silver in a research report on Friday, March 1st. TheStreet downgraded Pan American Silver from a “b-” rating to a “c” rating in a research report on Friday, February 22nd. Zacks Investment Research downgraded Pan American Silver from a “hold” rating to a “sell” rating in a research report on Saturday, March 2nd. Finally, National Bank Financial started coverage on Pan American Silver in a research report on Tuesday, March 26th. They set a “sector perform” rating on the stock. Two analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company’s stock. Pan American Silver currently has a consensus rating of “Hold” and a consensus price target of $16.97.

Pan American Silver stock opened at $11.02 on Tuesday. Pan American Silver has a 12 month low of $11.09 and a 12 month high of $18.67. The company has a current ratio of 3.83, a quick ratio of 2.74 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $1.75 billion, a P/E ratio of 28.26, a PEG ratio of 12.92 and a beta of -0.15.

Pan American Silver (NASDAQ:PAAS) (TSE:PAAS) last posted its quarterly earnings data on Wednesday, May 8th. The basic materials company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.02 by $0.03. Pan American Silver had a positive return on equity of 2.11% and a negative net margin of 0.34%. The business had revenue of $232.60 million for the quarter, compared to the consensus estimate of $240.67 million. During the same quarter in the prior year, the business earned $0.20 earnings per share. Pan American Silver’s revenue for the quarter was up 12.4% on a year-over-year basis. On average, analysts predict that Pan American Silver will post 0.23 earnings per share for the current year.

Several hedge funds have recently modified their holdings of the stock. Renaissance Technologies LLC raised its position in shares of Pan American Silver by 4.5% in the first quarter. Renaissance Technologies LLC now owns 7,271,618 shares of the basic materials company’s stock worth $96,349,000 after buying an additional 313,601 shares in the last quarter. FMR LLC raised its position in shares of Pan American Silver by 6.1% in the fourth quarter. FMR LLC now owns 4,528,893 shares of the basic materials company’s stock worth $66,122,000 after buying an additional 260,455 shares in the last quarter. Investec Asset Management LTD raised its position in shares of Pan American Silver by 25.8% in the first quarter. Investec Asset Management LTD now owns 3,640,635 shares of the basic materials company’s stock worth $48,238,000 after buying an additional 747,294 shares in the last quarter. Vanguard Group Inc raised its position in shares of Pan American Silver by 4.0% in the third quarter. Vanguard Group Inc now owns 3,615,559 shares of the basic materials company’s stock worth $53,366,000 after buying an additional 137,450 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Pan American Silver by 4.0% in the third quarter. Vanguard Group Inc. now owns 3,615,559 shares of the basic materials company’s stock worth $53,366,000 after buying an additional 137,450 shares in the last quarter. Institutional investors own 55.92% of the company’s stock.

About Pan American Silver

Pan American Silver Corp., together with its subsidiaries, engages in the exploration, development, extraction, processing, refining, and reclamation of silver mines. The company owns and operates mines located in Mexico, Peru, Canada, Argentina, and Bolivia. It also produces and sells gold, zinc, lead, and copper.

Further Reading: Net Margin

Analyst Recommendations for Pan American Silver (NASDAQ:PAAS)

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