Scotia Capital is maintaining its ‘sector perform’ rating on shares of
Pan American Silver Corp. (
TSX: T.PAA,
Stock Forum) after visiting the company’s Dolores, Alamo Dorado, and La Colorada mines in Mexico, while attending the company’s analyst day in Sonora Mexico.
“Overall, we were very impressed with Pan American’s operating team, mine operations, and overall corporate strategy; however, based on our estimate, we continue to believe the shares are fairly valued at current levels,’’ wrote Scotia analyst Trevor Turnbull in a research report.
Pan American shares rose 1.7% to $14.66 Tuesday, leaving a market cap of $2.2 billion, based on 151.5 million shares outstanding. The 52-week range is $17.41 and $10.18.