RBC Capital Sticks to Its Buy Rating for Pan American Silver (PAAS)
RBC Capital analyst Mark Mihaljevic maintained a Buy rating on Pan American Silver (PAAS) on February 5 and set a price target of $23.00. The company’s shares closed last Monday at $22.29, close to its 52-week high of $24.02.
According to TipRanks.com, Mihaljevic is a 3-star analyst with an average return of 1.5% and a 45.1% success rate. Mihaljevic covers the Basic Materials sector, focusing on stocks such as Hecla Mining Company, Torex Gold Resources, and SilverCrest Metals.
Currently, the analyst consensus on Pan American Silver is a Moderate Buy with an average price target of $24.09, representing a 4.7% upside. In a report issued on February 7, National Bank also maintained a Buy rating on the stock with a C$39.00 price target.
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Based on Pan American Silver’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $37.66 million. In comparison, last year the company had a GAAP net loss of $63.81 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.