Pan American Silver (PAAS) Receives a Buy from CIBC
In a report released yesterday, Cosmos Chiu from CIBC maintained a Buy rating on Pan American Silver (PAAS), with a price target of $23.00. The company’s shares closed last Monday at $16.79.
According to TipRanks.com, Chiu is a 5-star analyst with an average return of 11.3% and a 51.1% success rate. Chiu covers the Basic Materials sector, focusing on stocks such as Wheaton Precious Metals, Fortuna Silver Mines, and Kirkland Lake Gold.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Pan American Silver with a $21.86 average 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 $18.37 million. In comparison, last year the company had a GAAP net loss of $9.46 million.
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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.