CIBC Reaffirms Their Buy Rating on Pan American Silver (PAAS)


The Materials sector company, Pan American Silver (PAAS), has received a rating update from a Wall Street analyst yesterday. Analyst Cosmos Chiu from CIBC rated Pan American Silver (PAAS) a Buy, setting a C$20 price target.

According to TipRanks.com, Chiu is a 4-star analyst with an average return of 8.6% and a 52.1% success rate. Chiu covers the Basic Materials sector, focusing on stocks such as Wheaton Precious Metals Corp, Osisko Gold Royalties Ltd, and OceanaGold Corporation.

Pan American Silver has an analyst consensus of Strong Buy, with a price target consensus of C$20, representing a 6.5% upside. In a report issued on February 21, Canaccord Genuity also reiterated a Buy rating on the stock.

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Based on Pan American Silver’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of C$12.36 million. In comparison, last year the company had a net profit of C$62.16 million.

Pan American Silver Corp. engages in the exploration, development, extraction, processing, refining, and reclamation of silver mining and related activities. It owns and operates silver mines located in Peru, Mexico, Argentina, and Bolivia. The company was founded by Ross J. Beaty and John J. Wright in April 1994 and is headquartered in Vancouver, Canada.

The company’s shares closed on Friday at C$18.78.

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