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New Buy Rating for Pan American Silver (PAAS), the Basic Materials Giant

Tipranks - Thu Jun 4, 9:00PM CDT

In a report released yesterday, Josh Wolfson from RBC Capital maintained a Buy rating on Pan American Silver, with a price target of $65.00.

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Wolfson covers the Basic Materials sector, focusing on stocks such as Wheaton Precious Metals, OR Royalties, and Royal Gold. According to TipRanks, Wolfson has an average return of 20.6% and a 62.81% success rate on recommended stocks.

Currently, the analyst consensus on Pan American Silver is a Strong Buy with an average price target of $72.77.

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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