Pan American Silver (NYSE:PAAS) Trading 7.7% Higher Following Better-Than-Expected Earnings

Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) traded up 7.7% on Thursday after the company announced better than expected quarterly earnings. The company traded as high as $20.06 and last traded at $20.06. 1,580,098 shares were traded during trading, a decline of 63% from the average session volume of 4,270,614 shares. The stock had previously closed at $18.63.

The basic materials company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.06) by $0.07. The business had revenue of $601.40 million for the quarter, compared to the consensus estimate of $592.58 million. Pan American Silver had a positive return on equity of 0.44% and a negative net margin of 5.24%. The firm’s revenue was up 54.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.10 EPS.

Pan American Silver Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Monday, March 4th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.94%. The ex-dividend date of this dividend was Friday, March 1st. Pan American Silver’s dividend payout ratio (DPR) is presently -133.33%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Jefferies Financial Group lifted their price target on shares of Pan American Silver from $14.00 to $17.00 and gave the company a “hold” rating in a research note on Monday, April 22nd. CIBC reduced their target price on shares of Pan American Silver from $28.00 to $27.50 and set an “outperform” rating for the company in a research note on Wednesday, February 7th. TD Securities dropped their price target on Pan American Silver from $18.50 to $17.50 and set a “buy” rating on the stock in a research note on Friday, February 23rd. Scotiabank upped their price objective on Pan American Silver from $19.50 to $20.00 and gave the stock a “sector outperform” rating in a research report on Monday, April 8th. Finally, BMO Capital Markets dropped their target price on Pan American Silver from $27.00 to $22.00 and set an “outperform” rating on the stock in a research report on Thursday, January 18th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.00.

Institutional Investors Weigh In On Pan American Silver

A number of institutional investors and hedge funds have recently made changes to their positions in PAAS. Optiver Holding B.V. increased its holdings in Pan American Silver by 90.8% during the third quarter. Optiver Holding B.V. now owns 1,706 shares of the basic materials company’s stock worth $25,000 after buying an additional 812 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of Pan American Silver in the 3rd quarter valued at about $46,000. CVA Family Office LLC acquired a new stake in Pan American Silver in the 4th quarter valued at about $46,000. Parkside Financial Bank & Trust grew its holdings in Pan American Silver by 455.9% during the fourth quarter. Parkside Financial Bank & Trust now owns 3,658 shares of the basic materials company’s stock worth $60,000 after purchasing an additional 3,000 shares during the period. Finally, Stonehage Fleming Financial Services Holdings Ltd acquired a new position in Pan American Silver during the fourth quarter worth approximately $103,000. Institutional investors own 55.43% of the company’s stock.

Pan American Silver Stock Up 10.7 %

The stock has a market cap of $7.49 billion, a P/E ratio of -68.73, a price-to-earnings-growth ratio of 2.49 and a beta of 1.36. The firm has a 50 day simple moving average of $16.60 and a 200-day simple moving average of $15.24. The company has a quick ratio of 1.09, a current ratio of 2.23 and a debt-to-equity ratio of 0.16.

About Pan American Silver

Pan American Silver Corp. engages in the exploration, mine development, extraction, processing, refining, and reclamation of silver, gold, zinc, lead, and copper mines in Canada, Mexico, Peru, Bolivia, Argentina, Chile, and Brazil. The company was formerly known as Pan American Minerals Corp. and changed its name to Pan American Silver Corp.