UPDATE: JPMorgan Starts Pan Am Silver (PAAS) at Overweight
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JPMorgan analyst Tyler Langton initiates coverage on Pan Am Silver (NASDAQ: PAAS) with a Overweight rating and a price target of $33.05.
THe analyst comments "Silver prices are well below their 2011 peak price, tend to outperform gold early in the cycle, and could benefit from increased green spending longer term. PAAS generates ~30% of its revenues from silver, has the greatest exposure to silver among the larger precious metal companies, and should see meaningful production growth as it comes out of COVID-19 restrictions. With the stock’s Reddit-driven gains now mostly reversed, PAAS is down 4% YTD vs. the gold producers’ 4% decline and S&P’s 4% increase, and we think the company is well positioned to benefit from stable gold prices and potentially higher silver prices."
Shares of Pan Am Silver closed at $33.05 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, New Coverage
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