CIBC Keeps Their Buy Rating on Pan American Silver (PAAS)
CIBC analyst Cosmos Chiu maintained a Buy rating on Pan American Silver (PAAS) yesterday and set a price target of $26.00. The company’s shares closed last Monday at $20.72, close to its 52-week high of $20.91.
According to TipRanks.com, Chiu is a 5-star analyst with an average return of 11.9% and a 53.7% success rate. Chiu covers the Basic Materials sector, focusing on stocks such as Wheaton Precious Metals, Fortuna Silver Mines, and Kirkland Lake Gold.
Currently, the analyst consensus on Pan American Silver is a Strong Buy with an average price target of $22.51, which is a 12.8% upside from current levels. In a report issued on December 2, RBC Capital also maintained a Buy rating on the stock with a $23.00 price target.
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Pan American Silver’s market cap is currently $4.34B and has a P/E ratio of 519.17. The company has a Price to Book ratio of 1.78.
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Pan American Silver Corp. engages in the exploration, development, extraction, processing, refining, and reclamation of mineral properties. 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.