Pan American Silver price target raised to $23 from $21 at Jefferies
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Oct 04 2024
0mins
Price Target Update: Jefferies analyst Matthew Murphy increased the price target for Pan American Silver from $21 to $23 while maintaining a Hold rating on the shares.
Commodity Outlook: The firm has revised its commodity price outlook, raising targets for metals and miner equities by an average of 13%, noting that gold is likely to continue gaining due to falling real rates.
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Analyst Views on PAAS
Wall Street analysts forecast PAAS stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for PAAS is 49.70 USD with a low forecast of 43.19 USD and a high forecast of 55.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
6 Analyst Rating
4 Buy
2 Hold
0 Sell
Moderate Buy
Current: 65.920
Low
43.19
Averages
49.70
High
55.00
Current: 65.920
Low
43.19
Averages
49.70
High
55.00
About PAAS
Pan American Silver Corp. is a producer of silver and gold in the Americas, operating mines in Canada, Mexico, Peru, Brazil, Bolivia, Chile and Argentina. It owns a 100% interest in the Escobal mine in Guatemala, and it holds interests in exploration and development projects. Its segments include Silver, Gold and Other. Silver segment includes operations of La Colorada, Huaron, San Vicente, Cerro Moro, La Colorada Skarn, Navidad and Escobal. Gold segment includes operations in Dolores, Shahuindo, Timmins, Jacobina, El Penon and Minera Florida. La Colorada mine produces silver-rich lead and zinc concentrates from a flotation plant treating sulfide ore. Huaron mine produces silver-rich zinc, lead and copper concentrates using floatation technology. It owns 44% joint venture interest in the Juanicipio silver mine in Zacatecas, Mexico, operated by Fresnillo plc, along with 100% ownership of the Larder exploration project and a 100% earn-in interest in the Deer Trail exploration project.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Gold and Silver Price Fluctuations Impact Mining Stocks
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Comparative Analysis of Global Silver Mining ETFs
- Cost Structure Differences: The iShares MSCI Global Silver and Metals Miners ETF (SLVP) offers a lower expense ratio of 0.39% compared to Global X Silver Miners ETF (SIL) at 0.65%, making SLVP more appealing to cost-sensitive investors while providing a higher dividend yield of 1.3% versus SIL's 0.9%.
- Portfolio Composition: Launched 15 years ago, SIL holds 42 stocks primarily focused on Canadian mining companies like Wheaton Precious Metals Corp., which accounts for over 20% of its assets, while SLVP emphasizes Mexican mining firms, despite both ETFs having the same number of holdings.
- Risk and Return Comparison: Over the past five years, SIL and SLVP experienced maximum drawdowns of -55.63% and -55.56%, respectively, with growth of $1,000 amounting to $2,945 for SIL and $2,592 for SLVP, indicating similar risk management but slightly better performance for SLVP.
- Market Volatility Impact: Given that silver is estimated to be three times more volatile than gold, investors should be cautious of the risks both ETFs may face during significant price fluctuations, although they have benefited from the meteoric rise in silver prices in 2025 and early 2026.
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