In a report released yesterday, Mark Mihaljevic from RBC Capital reiterated a Buy rating on Pan American Silver (PAAS). The company’s shares closed last Thursday at $36.11, close to its 52-week high of $40.11.
According to TipRanks.com, Mihaljevic is a 4-star analyst with an average return of 13.2% and a 60.5% success rate. Mihaljevic covers the Basic Materials sector, focusing on stocks such as Torex Gold Resources, Hecla Mining Company, and SilverCrest Metals.
Currently, the analyst consensus on Pan American Silver is a Strong Buy with an average price target of $40.58, a 21.4% upside from current levels. In a report issued on November 4, Canaccord Genuity also maintained a Buy rating on the stock with a $40.00 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 revenue of $250 million and net profit of $20.06 million. In comparison, last year the company earned revenue of $340 million and had a net profit of $18.37 million.
Based on the recent corporate insider activity of 60 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of PAAS in relation to earlier this year.
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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.