Pan American Silver (NYSE:PAAS) Downgraded by TD Securities to “Hold”

Pan American Silver (NYSE:PAAS) (TSE:PAAS) was downgraded by TD Securities from a “buy” rating to a “hold” rating in a report released on Tuesday,BayStreet.CA reports. They presently have a $27.00 price target on the basic materials company’s stock, down from their previous price target of $28.00. TD Securities’ target price indicates a potential upside of 12.08% from the company’s previous close.

Several other brokerages also recently issued reports on PAAS. Scotiabank increased their price objective on shares of Pan American Silver from $28.00 to $28.50 and gave the stock a “sector outperform” rating in a research report on Tuesday, February 25th. Royal Bank of Canada lifted their price target on shares of Pan American Silver from $28.00 to $30.00 and gave the company an “outperform” rating in a research note on Tuesday, February 11th. Finally, StockNews.com cut Pan American Silver from a “buy” rating to a “hold” rating in a research report on Sunday, December 1st. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $27.92.

Pan American Silver Trading Up 3.0 %

NYSE PAAS traded up $0.70 during trading hours on Tuesday, hitting $24.09. The company’s stock had a trading volume of 2,739,226 shares, compared to its average volume of 3,816,588. The stock has a fifty day moving average of $23.09 and a 200 day moving average of $22.27. The company has a quick ratio of 0.96, a current ratio of 2.50 and a debt-to-equity ratio of 0.16. Pan American Silver has a twelve month low of $13.52 and a twelve month high of $26.05. The firm has a market capitalization of $8.72 billion, a P/E ratio of 75.25 and a beta of 1.25.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last posted its quarterly earnings results on Wednesday, February 19th. The basic materials company reported $0.35 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.35. The company had revenue of $815.10 million for the quarter, compared to the consensus estimate of $805.20 million. Pan American Silver had a return on equity of 6.14% and a net margin of 3.98%. Equities research analysts forecast that Pan American Silver will post 1.26 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Pan American Silver

Hedge funds have recently added to or reduced their stakes in the stock. Comprehensive Financial Planning Inc. PA purchased a new stake in Pan American Silver during the fourth quarter worth about $27,000. Laurel Wealth Advisors LLC bought a new position in shares of Pan American Silver in the fourth quarter valued at approximately $30,000. Wilmington Savings Fund Society FSB bought a new position in shares of Pan American Silver in the third quarter worth $32,000. Decker Retirement Planning Inc. purchased a new stake in shares of Pan American Silver in the 4th quarter valued at about $32,000. Finally, Bank Julius Baer & Co. Ltd Zurich bought a new stake in Pan American Silver during the fourth quarter valued at approximately $32,000. 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.