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Pan American Silver (PAAS): New Buy Recommendation for This Basic Materials Giant

Tipranks - Wed Jun 3, 9:32AM CDT

In a report released today, Cosmos Chiu from CIBC maintained a Buy rating on Pan American Silver, with a price target of $94.00.

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Chiu covers the Basic Materials sector, focusing on stocks such as Coeur Mining, Franco-Nevada, and Orla Mining. According to TipRanks, Chiu has an average return of 22.5% and a 59.33% success rate on recommended stocks.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Pan American Silver with a $72.77 average price target.

Based on Pan American Silver’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of C$1.15 billion and a net profit of C$457 million. In comparison, last year the company earned a revenue of C$773.2 million and had a net profit of C$168.7 million

Based on the recent corporate insider activity of 69 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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