Market Overview

UPDATE: Bank of America Reduces PO to $18 on Pan American Silver Corp on Regulatory Hurdles in Argentina

Related PAAS
Mid-Morning Market Update: Markets Mostly Higher; Goldman Sachs Profit Beats Views
A Gold Medal For This Soaring Silver ETF
Silver Surge Has Led To Huge Stock Gains YTD (Seeking Alpha)

Bank of America reiterates its Underperform rating on Pan American Silver Corp (NASDAQ: PAAS) and reduces its price objective from $22 to $18.

Bank of America comments, "Pan American disclosed today that, as expected, the governor of Chubut Province in Argentina submitted to the provincial legislature a draft law to regulate all future oil & gas and mining activities in the province. While this draft law would allow for the rezoning of open pit mining, which would be good news for the development of PAAS's Navidad project, this same legislation also contains a punishing mix of increased royalties and government economic participation for all projects in Chubut. PAAS noted that the combination of the draft legislation and inflationary environment in Argentina will render the Navidad project uneconomic."

PAAS closed at $16.23 on Monday.

Latest Ratings for PAAS

Apr 2016CIBCUpgradesSector PerformerOutperformer
Mar 2016Deutsche BankDowngradesBuyHold
Mar 2016BMO CapitalUpgradesUnderperformMarket Perform

View More Analyst Ratings for PAAS
View the Latest Analyst Ratings

Posted-In: Bank of AmericaAnalyst Color Price Target Reiteration Pre-Market Outlook Analyst Ratings


Related Articles (PAAS)

View Comments and Join the Discussion!