Pan American Silver (NYSE:PAAS) Sets New 1-Year High After Analyst Upgrade

Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS)’s share price reached a new 52-week high during trading on Monday after Scotiabank raised their price target on the stock from $47.00 to $64.00. Scotiabank currently has an outperform rating on the stock. Pan American Silver traded as high as $69.99 and last traded at $68.6260, with a volume of 2981936 shares traded. The stock had previously closed at $64.50.

Other equities research analysts have also recently issued reports about the stock. Bank of America upped their price target on shares of Pan American Silver from $46.00 to $51.00 and gave the company a “buy” rating in a report on Monday, December 1st. CIBC increased their target price on Pan American Silver from $50.00 to $62.00 and gave the company an “outperformer” rating in a research note on Friday, October 10th. Wall Street Zen raised Pan American Silver from a “hold” rating to a “buy” rating in a report on Friday, January 23rd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Pan American Silver in a research report on Monday, December 29th. Finally, Zacks Research lowered Pan American Silver from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 31st. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, Pan American Silver currently has an average rating of “Moderate Buy” and an average price target of $47.83.

Hedge Funds Weigh In On Pan American Silver

Large investors have recently added to or reduced their stakes in the company. Linden Thomas Advisory Services LLC increased its position in shares of Pan American Silver by 4.2% during the fourth quarter. Linden Thomas Advisory Services LLC now owns 6,507 shares of the basic materials company’s stock valued at $337,000 after purchasing an additional 262 shares during the period. Harvest Portfolios Group Inc. boosted its stake in Pan American Silver by 0.9% during the third quarter. Harvest Portfolios Group Inc. now owns 36,240 shares of the basic materials company’s stock worth $1,404,000 after buying an additional 318 shares in the last quarter. CoreCap Advisors LLC boosted its stake in Pan American Silver by 7.9% during the fourth quarter. CoreCap Advisors LLC now owns 4,535 shares of the basic materials company’s stock worth $235,000 after buying an additional 331 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its holdings in Pan American Silver by 18.1% in the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 2,373 shares of the basic materials company’s stock valued at $92,000 after buying an additional 364 shares during the period. Finally, Parallel Advisors LLC raised its stake in shares of Pan American Silver by 151.8% in the 3rd quarter. Parallel Advisors LLC now owns 642 shares of the basic materials company’s stock valued at $25,000 after buying an additional 387 shares in the last quarter. Institutional investors and hedge funds own 55.43% of the company’s stock.

Pan American Silver Trading Down 0.7%

The business’s 50 day moving average price is $50.81 and its 200-day moving average price is $40.22. The company has a market cap of $27.15 billion, a price-to-earnings ratio of 37.20, a PEG ratio of 0.71 and a beta of 0.67. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.55 and a current ratio of 2.31.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last posted its earnings results on Wednesday, November 12th. The basic materials company reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.01). Pan American Silver had a net margin of 19.52% and a return on equity of 11.66%. The business had revenue of $854.60 million during the quarter, compared to the consensus estimate of $867.76 million. During the same period in the previous year, the firm earned $0.32 EPS. The business’s revenue was up 19.3% compared to the same quarter last year. On average, research analysts forecast that Pan American Silver Corp. will post 1.26 EPS for the current year.

Pan American Silver Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 5th. Stockholders of record on Monday, November 24th were paid a $0.14 dividend. The ex-dividend date was Monday, November 24th. This represents a $0.56 annualized dividend and a dividend yield of 0.9%. This is an increase from Pan American Silver’s previous quarterly dividend of $0.12. Pan American Silver’s dividend payout ratio is currently 32.37%.

Pan American Silver Company Profile

Pan American Silver Corp. (NYSE: PAAS) is a Vancouver-based mining company and one of the world’s largest primary silver producers. The company’s core activities encompass the exploration, development, extraction and processing of silver, with significant by-product production of gold, zinc and lead. Pan American Silver maintains a vertically integrated operating model, covering the full mining value chain from resource discovery through to refined metal production.

With a geographic footprint concentrated across the Americas, Pan American Silver operates multiple mines in Mexico, Peru, Argentina and Bolivia, and is advancing several development and exploration projects in Chile and Ecuador.