Latest Stocks: Pan American Silver Corp. (PAAS) Lowered to Hold at Zacks Investment Research

Latest Stocks: Pan American Silver Corp. (PAAS) Lowered to Hold at Zacks Investment Research

Zacks Investment Research lowered shares of Pan American Silver Corp. (NASDAQ:PAAS) (TSE:PAAS) from a buy rating to a hold rating in a report released on Friday, May 12th.

According to Zacks, “PAN AMER SILVER is a mining company focused exclusively on silver. Pan American Silver Corp. is founded upon a single mission, to become the best vehicle for equity investors wanting to gain real exposure to higher silver prices. To accomplish this they are striving to increase their low-cost silver production, to have the most successful silver exploration programs, to hold the largest silver reserves and resources, and to be the purest of the world’s large silver producers. “

Several other analysts have also recently issued reports on PAAS. Vetr raised shares of Pan American Silver Corp. from a sell rating to a hold rating and set a $20.50 price target on the stock in a research report on Tuesday, February 7th. Scotiabank cut shares of Pan American Silver Corp. from an outperform rating to a sector perform rating in a research report on Thursday, February 16th. BMO Capital Markets cut shares of Pan American Silver Corp. from an outperform rating to a market perform rating and reduced their price target for the stock from $21.00 to $19.00 in a research report on Friday, March 31st. Credit Suisse Group AG reissued a neutral rating on shares of Pan American Silver Corp. in a research report on Tuesday, April 18th. Finally, TheStreet raised shares of Pan American Silver Corp. from a c rating to a b- rating in a research report on Friday, February 24th. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Pan American Silver Corp. has a consensus rating of Buy and a consensus target price of $19.85. Shares of Pan American Silver Corp. (PAAS) opened at 17.50 on Friday. The company has a market cap of $2.68 billion, a price-to-earnings ratio of 22.64 and a beta of 0.55. Pan American Silver Corp. has a 12-month low of $13.80 and a 12-month high of $21.59. The stock has a 50 day moving average of $17.24 and a 200 day moving average of $17.49.

The company also recently announced a quarterly dividend, which was paid on Monday, June 5th. Investors of record on Tuesday, May 23rd were issued a $0.025 dividend. The ex-dividend date of this dividend was Friday, May 19th. This represents a $0.10 annualized dividend and a yield of 0.57%. Pan American Silver Corp.’s dividend payout ratio (DPR) is -13.51%. Hedge funds have recently modified their holdings of the stock. Barings LLC purchased a new stake in shares of Pan American Silver Corp. during the first quarter valued at $3,557,000. National Asset Management Inc. purchased a new stake in shares of Pan American Silver Corp. during the first quarter valued at $344,000. U S Global Investors Inc purchased a new stake in shares of Pan American Silver Corp. during the first quarter valued at $2,190,000. Geode Capital Management LLC boosted its stake in shares of Pan American Silver Corp. by 14.9% in the first quarter. Geode Capital Management LLC now owns 80,299 shares of the basic materials company’s stock valued at $1,406,000 after buying an additional 10,429 shares during the period. Finally, Vanguard Group Inc. boosted its stake in shares of Pan American Silver Corp. by 3.5% in the first quarter. Vanguard Group Inc. now owns 2,738,973 shares of the basic materials company’s stock valued at $47,986,000 after buying an additional 91,617 shares during the period. 46.26% of the stock is currently owned by hedge funds and other institutional investors.

Get a free copy of the Zacks research report on Pan American Silver Corp. (PAAS) For more information about research offerings from Zacks Investment Research, visit Zacks.com

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