Pan American Silver (NYSE:PAAS) Reaches New 12-Month High on Analyst Upgrade

Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) reached a new 52-week high on Thursday after Jefferies Financial Group raised their price target on the stock from $19.00 to $22.00. Jefferies Financial Group currently has a hold rating on the stock. Pan American Silver traded as high as $23.63 and last traded at $23.49, with a volume of 446400 shares. The stock had previously closed at $22.67.

Several other equities analysts have also recently weighed in on PAAS. Scotiabank boosted their price objective on Pan American Silver from $20.00 to $23.00 and gave the stock a “sector outperform” rating in a research report on Thursday, May 23rd. CIBC boosted their price target on Pan American Silver from $30.00 to $35.00 and gave the company an “outperformer” rating in a research note on Wednesday. StockNews.com upgraded Pan American Silver from a “sell” rating to a “hold” rating in a research note on Saturday, May 11th. Finally, BMO Capital Markets boosted their price target on Pan American Silver from $22.00 to $24.00 in a research note on Tuesday, May 21st. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $23.92.

Institutional Investors Weigh In On Pan American Silver

Several large investors have recently modified their holdings of the stock. Van ECK Associates Corp grew its position in Pan American Silver by 11.8% during the 4th quarter. Van ECK Associates Corp now owns 45,833,375 shares of the basic materials company’s stock worth $748,460,000 after acquiring an additional 4,842,547 shares during the last quarter. Norges Bank bought a new stake in Pan American Silver during the 4th quarter worth approximately $63,066,000. Tidal Investments LLC grew its position in Pan American Silver by 15,618.3% during the 1st quarter. Tidal Investments LLC now owns 3,803,507 shares of the basic materials company’s stock worth $57,340,000 after acquiring an additional 3,779,309 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in Pan American Silver by 71.3% during the 4th quarter. The Manufacturers Life Insurance Company now owns 1,889,808 shares of the basic materials company’s stock worth $30,899,000 after acquiring an additional 786,525 shares during the last quarter. Finally, American Century Companies Inc. grew its position in Pan American Silver by 104.5% during the 3rd quarter. American Century Companies Inc. now owns 1,207,185 shares of the basic materials company’s stock worth $17,479,000 after acquiring an additional 616,804 shares during the last quarter. 55.43% of the stock is currently owned by institutional investors.

Pan American Silver Stock Performance

The firm has a market capitalization of $8.62 billion, a P/E ratio of -51.61 and a beta of 1.31. The stock has a 50-day moving average of $20.79 and a 200 day moving average of $17.13. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.92 and a current ratio of 2.11.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last released its quarterly earnings results on Wednesday, May 8th. The basic materials company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.07. Pan American Silver had a positive return on equity of 0.13% and a negative net margin of 6.68%. The business had revenue of $601.40 million for the quarter, compared to analyst estimates of $592.58 million. During the same period in the prior year, the company earned $0.10 EPS. Pan American Silver’s revenue for the quarter was up 54.1% on a year-over-year basis. On average, research analysts anticipate that Pan American Silver Corp. will post 0.59 earnings per share for the current year.

Pan American Silver Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Tuesday, May 21st were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.68%. The ex-dividend date of this dividend was Monday, May 20th. Pan American Silver’s dividend payout ratio is -86.96%.

Pan American Silver Company Profile

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.