B.Riley FBR analyst Lucas Pipes reiterated a Buy rating on Pan American Silver (NASDAQ: PAAS) today and set a price target of $22. The company’s shares closed yesterday at $17.36.
According to TipRanks.com, Pipes is a 4-star analyst with an average return of 7.9% and a 64.0% success rate. Pipes covers the Basic Materials sector, focusing on stocks such as Peabody Energy Corporation Comm, Newmont Mining Corporation, and Novagold Resources Inc New.
Pan American Silver has an analyst consensus of Moderate Buy, with a price target consensus of $20.63, representing a 18.8% upside. In a report released yesterday, TD Securities also reiterated a Buy rating on the stock with a $23 price target.
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Based on Pan American Silver’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $36.19 million. In comparison, last year the company had a net profit of $35.47 million.
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Pan American Silver Corp. engages in the production and sale of silver, gold, and base metals including copper, lead, and zinc. It operates through the following geographical segments: Peru, Mexico, Argentina, Bolivia, Canada, and Other. The company was founded by Ross J. Beaty and John J. Wright in April 1994 and is headquartered in Vancouver, Canada.
