Pan American Silver Downgraded by TD Securities to 'Hold'

Pan American Silver (NYSE:PAAS) has received a downgrade from TD Securities, shifting from a "buy" rating to a "hold" rating. This change was noted in a research report released on Tuesday. In conjunction with the downgrade, TD Securities revised its price target for the company's stock from $28.00 to $27.00. This new target suggests a potential upside of 12.08% based on the company's most recent closing price.

In the context of recent stock performance, Pan American Silver witnessed a 3.0% increase on Tuesday, climbing by $0.70 to reach $24.09. The trading volume for the day was approximately 2,739,226 shares, which is below the average volume of 3,816,588 shares. Over the previous months, the company has shown some fluctuations with a fifty-day moving average of $23.09 and a two-hundred-day moving average of $22.27. Presently, Pan American Silver boasts a market capitalization of $8.72 billion and a P/E ratio reflecting its growth dynamics.

Analysts' Perspective

This downgrade by TD Securities is part of a more extensive trend, as the company has recently been the subject of various analyses from different brokerages. Scotiabank has amended its price objective for the stock, increasing it from $28.00 to $28.50. They have classified Pan American Silver's stock as a "sector outperform." Meanwhile, the Royal Bank of Canada has also made positive adjustments, raising its price target from $28.00 to $30.00 and assigning an "outperform" rating in its analysis. Conversely, StockNews.com previously lowered its recommendation from "buy" to "hold" at the start of December.

The current consensus among analysts indicates a mixed outlook for Pan American Silver, with three analysts awarding a hold rating while two others maintained buy ratings. According to data obtained from MarketBeat, the overall consensus rating stands at "Hold" with an average price target of $27.92, reflecting cautious optimism about the company's future.

Recent Earnings Results

In its latest quarterly earnings report dated February 19, Pan American Silver revealed earnings per share (EPS) of $0.35, which met the analysts' expectations. The reported revenue for the quarter was $815.10 million, surpassing predictions of $805.20 million. The company has recorded a net margin of 3.98% and a return on equity of 6.14%. Projections suggest that Pan American Silver is anticipated to achieve an EPS of 1.26 in the ongoing fiscal year.

Hedge Fund Activity

In addition to the analyst ratings, hedge fund activity around Pan American Silver has shown notable interest. Several funds have recently either increased or initiated stakes in the company. Comprehensive Financial Planning Inc. acquired a new stake in Pan American Silver valued at approximately $27,000. Similarly, Laurel Wealth Advisors LLC and Wilmington Savings Fund Society both made new investments, valued at around $30,000 and $32,000, respectively. Institutional investors collectively hold 55.43% of the company's shares, indicating significant confidence from the market participants.

About the Company

Pan American Silver Corp. is engaged in the exploration, mine development, extraction, processing, refining, and reclamation of various minerals including silver, gold, zinc, lead, and copper. The company operates in countries like Canada, Mexico, Peru, Bolivia, Argentina, Chile, and Brazil. Originally known as Pan American Minerals Corp., it has firmly established its reputation as a key player in the mining sector.

Silver, Stocks, Analysis