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Deutsche Bank downgrades Pan American Silver (PAAS -2.3%) to Hold from Buy, saying that while...

Deutsche Bank downgrades Pan American Silver (PAAS -2.3%) to Hold from Buy, saying that while the firm still sees upside to gold and silver prices, many precious metal firms are not generating sufficient EPS to justify upside based on P/E multiples of Industrial peers. Hecla Mining (HL -2.5%) and Silver Standard (SSRI -1.9%) are cut to Sell, citing a lack of earnings growth.
Comments (2)
  • Their Lucky Silver Mine after a year, will reopen this quarter.

     

    Silver production they have already predicted will go from 9M oz to 15M oz.

     

    If the price of silver goes up....they all go up.
    15 Jan 2013, 05:44 PM Reply Like
  • If I remember correctly: HL mines about 7M oz from Greens Creek. When they reopen Lucky Friday they expect to mine around under 2M oz in 2013 and may be 3M oz in 2014. Thus expect 8-9M oz in 2013 and 10M in 2014. HL management says they will increase production to 15M oz by 2015. But some how they won't say how they are planning to do it, and analysts won't ask during CC. Makes me think they are planning acquisition (again).
    Also remember HL had ZERO earnings for the last three quarters. I am long HL and picked up some more today. I think pps will go to $7 when they announced that LF is reopening.
    15 Jan 2013, 08:07 PM Reply Like
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