Jefferies initiated coverage of Pan American Silver with a Hold rating and $14 price target as the analyst started coverage on the North American gold mining and streaming sector with a positive view. Despite high real rates and falling inflation, gold has been supported near all-time highs by foreign central bank buying and a slowing global economy could serve as the next tailwind, while equities have detached from the near-record gold prices and sit at “discounted levels,” says the analyst, who thinks miner margin expansion can soon resume.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on PAAS:
- Pan American Silver price target lowered to $17.50 from $18.50 at TD Securities
- Pan American Silver announces normal course issuer bid for up to 5% of shares
- Pan American Silver reports Q4 adjusted EPS (4c), consensus 10c
- Pan American Silver sees FY24 silver production 21-23M oz
- Pan American Silver reports Q4 silver production 4.8M oz