Pan American Silver (NYSE:PAAS) Upgraded by StockNews.com to “Buy” Rating

StockNews.com upgraded shares of Pan American Silver (NYSE:PAAS) (TSE:PAAS) from a hold rating to a buy rating in a research report released on Tuesday morning.

Several other brokerages have also recently issued reports on PAAS. Jefferies Financial Group boosted their price target on Pan American Silver from $21.00 to $23.00 and gave the company a “hold” rating in a research note on Friday, October 4th. Scotiabank boosted their price target on Pan American Silver from $23.00 to $26.00 and gave the company a “sector outperform” rating in a research note on Tuesday, July 16th. Finally, Royal Bank of Canada lifted their price objective on shares of Pan American Silver from $25.00 to $27.00 and gave the company an “outperform” rating in a research note on Tuesday, September 10th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $24.93.

Pan American Silver Trading Down 2.1 %

PAAS stock opened at $21.41 on Tuesday. Pan American Silver has a 52 week low of $12.16 and a 52 week high of $26.05. The company has a market capitalization of $7.77 billion, a PE ratio of -126.17 and a beta of 1.33. The company’s 50-day simple moving average is $22.18 and its 200 day simple moving average is $21.27. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.96 and a current ratio of 2.06.

Pan American Silver Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Monday, November 18th will be paid a $0.10 dividend. The ex-dividend date is Monday, November 18th. This represents a $0.40 annualized dividend and a dividend yield of 1.87%. Pan American Silver’s dividend payout ratio is -235.28%.

Hedge Funds Weigh In On Pan American Silver

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Foundry Partners LLC grew its holdings in Pan American Silver by 11.6% during the 1st quarter. Foundry Partners LLC now owns 247,676 shares of the basic materials company’s stock worth $3,735,000 after acquiring an additional 25,835 shares during the period. Lighthouse Investment Partners LLC bought a new stake in Pan American Silver in the second quarter worth approximately $990,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Pan American Silver in the second quarter valued at approximately $963,000. Cetera Investment Advisers acquired a new position in Pan American Silver in the first quarter valued at approximately $1,565,000. Finally, Stratos Wealth Advisors LLC boosted its holdings in shares of Pan American Silver by 33.4% during the 3rd quarter. Stratos Wealth Advisors LLC now owns 159,268 shares of the basic materials company’s stock worth $3,324,000 after buying an additional 39,873 shares in the last quarter. 55.43% of the stock is owned by institutional investors and hedge funds.

Pan American Silver Company Profile

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.