Pan American Silver Corp. (PAAS) Trading Up 3.7%
Shares of Pan American Silver Corp. (NASDAQ:PAAS) were up 3.7% on Thursday . The company traded as high as $21.59 and last traded at $21.50, with a volume of 2,159,862 shares. The stock had previously closed at $20.74.
A number of analysts have recently weighed in on PAAS shares. HSBC reiterated a “buy” rating on shares of Pan American Silver Corp. in a research note on Thursday, July 7th. Zacks Investment Research upgraded shares of Pan American Silver Corp. from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a research report on Friday, April 22nd. TD Securities restated a “hold” rating and set a $23.00 price target (up previously from $18.00) on shares of Pan American Silver Corp. in a research report on Tuesday. Credit Suisse Group AG restated a “hold” rating on shares of Pan American Silver Corp. in a research report on Wednesday, June 8th. Finally, FBR & Co restated a “hold” rating on shares of Pan American Silver Corp. in a research report on Thursday. Eight equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $15.39.
The firm has a 50-day moving average of $19.04 and a 200-day moving average of $14.06. The firm’s market cap is $3.27 billion.
Pan American Silver Corp. (NASDAQ:PAAS) last released its quarterly earnings results on Thursday, August 11th. The company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.03 by $0.10. On average, analysts anticipate that Pan American Silver Corp. will post $0.46 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 6th. Investors of record on Tuesday, August 23rd will be given a $0.0125 dividend. The ex-dividend date is Friday, August 19th. This represents a $0.05 annualized dividend and a yield of 0.23%.
A number of hedge funds have added to or reduced their stakes in the stock. Connor Clark & Lunn Investment Management Ltd. increased its stake in Pan American Silver Corp. by 122.6% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,429,357 shares of the company’s stock valued at $28,730,000 after buying an additional 2,439,275 shares during the period. Bank of Montreal Can increased its stake in Pan American Silver Corp. by 98.3% in the fourth quarter. Bank of Montreal Can now owns 296,295 shares of the company’s stock valued at $1,926,000 after buying an additional 146,866 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in Pan American Silver Corp. by 9.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 525,377 shares of the company’s stock valued at $3,415,000 after buying an additional 45,051 shares during the period.
Pan American Silver Corp. (Pan American) is engaged in the production and sale of silver, gold and base metals including copper, lead and zinc, as well as other related activities, including exploration, extraction, processing, refining and reclamation. The Company’s primary product (silver) is produced in Peru, Mexico, Argentina and Bolivia.
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