Pan American Silver (PAAS) Receives a Buy from Canaccord Genuity


In a report released yesterday, Dalton Baretto from Canaccord Genuity reiterated a Buy rating on Pan American Silver (PAAS), with a price target of $21. The company’s shares closed yesterday at $14.21.

According to TipRanks.com, Baretto is a 4-star analyst with an average return of 7.5% and a 53.2% success rate. Baretto covers the Basic Materials sector, focusing on stocks such as Teck Resources Limited, Fortuna Silver Mines, and Hecla Mining Company.

Pan American Silver has an analyst consensus of Moderate Buy, with a price target consensus of $20.50.

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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 $9.46 million. In comparison, last year the company had a net profit of $48.89 million.

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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.

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