Deutsche Bank Starts Pan Am Silver (PAAS) at Buy; The Year For Navidad Project

Deutsche Bank initiates coverage on Pan Am Silver (NASDAQ: PAAS) with a Buy. PT $31.00.

Deutsche analyst said, "We are hopeful that 2012 will be the year in which Pan American's Navidad ("Christmas" in Spanish) project will obtain legal approval status in Argentina to proceed. Navidad's construction would help Pan American, the world's second largest primary silver producer, nearly double production by 2017, further enhancing its leverage to silver prices - which DB's Commodity team estimates could reach $45/oz by 2013."

For an analyst ratings summary and ratings history on Pan Am Silver click here. For more ratings news on Pan Am Silver click here.

Shares of Pan Am Silver closed at $21.68 yesterday.

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