Pan American Silver (NYSE:PAAS) Given New $21.00 Price Target at Jefferies Financial Group

Pan American Silver (NYSE:PAAS) (TSE:PAAS) had its price objective cut by stock analysts at Jefferies Financial Group from $22.00 to $21.00 in a report issued on Friday, BayStreet.CA reports. The firm currently has a “hold” rating on the basic materials company’s stock. Jefferies Financial Group’s price objective would suggest a potential downside of 1.13% from the company’s previous close.

PAAS has been the topic of a number of other reports. CIBC upped their price target on Pan American Silver from $30.00 to $35.00 and gave the company an “outperformer” rating in a research report on Wednesday, July 10th. Scotiabank upped their price target on Pan American Silver from $23.00 to $26.00 and gave the company a “sector outperform” rating in a research report on Tuesday, July 16th. BMO Capital Markets upped their price target on Pan American Silver from $22.00 to $24.00 in a research report on Tuesday, May 21st. Finally, Royal Bank of Canada upped their price target on Pan American Silver from $25.00 to $27.00 and gave the company an “outperform” rating in a research report on Tuesday. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, Pan American Silver presently has an average rating of “Moderate Buy” and an average target price of $24.64.

Pan American Silver Stock Performance

Shares of PAAS stock traded up $0.73 during trading hours on Friday, reaching $21.24. 2,751,990 shares of the company’s stock were exchanged, compared to its average volume of 4,137,262. The business has a fifty day moving average price of $21.06 and a 200-day moving average price of $19.17. The company has a quick ratio of 0.92, a current ratio of 2.06 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $7.71 billion, a P/E ratio of -46.17 and a beta of 1.35. Pan American Silver has a fifty-two week low of $12.16 and a fifty-two week high of $24.27.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last issued its earnings results 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 firm 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 business’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.04 earnings per share. Analysts predict that Pan American Silver will post 0.59 EPS for the current fiscal year.

Hedge Funds Weigh In On Pan American Silver

Several large investors have recently made changes to their positions in PAAS. Mark Sheptoff Financial Planning LLC lifted its stake in 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 valued at $33,000 after buying an additional 1,500 shares during the period. Perritt Capital Management Inc. raised its position in shares of Pan American Silver by 76.9% during the first quarter. Perritt Capital Management Inc. now owns 2,300 shares of the basic materials company’s stock worth $35,000 after purchasing an additional 1,000 shares during the period. CWM LLC raised its position in shares of Pan American Silver by 31.6% during the second quarter. CWM LLC now owns 2,124 shares of the basic materials company’s stock worth $42,000 after purchasing an additional 510 shares during the period. UniSuper Management Pty Ltd raised its position in shares of Pan American Silver by 73.3% during the first quarter. UniSuper Management Pty Ltd now owns 5,200 shares of the basic materials company’s stock worth $78,000 after purchasing an additional 2,200 shares during the period. Finally, Brown Brothers Harriman & Co. raised its position in shares of Pan American Silver by 446.4% during the fourth quarter. Brown Brothers Harriman & Co. now owns 8,781 shares of the basic materials company’s stock worth $143,000 after purchasing an additional 7,174 shares during the period. Institutional investors and hedge funds own 55.43% of the company’s stock.

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.