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

Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) hit a new 52-week high during mid-day trading on Monday after Wall Street Zen upgraded the stock from a hold rating to a buy rating. The stock traded as high as $69.99 and last traded at $68.6260, with a volume of 2981936 shares trading hands. The stock had previously closed at $64.50.

A number of other brokerages have also issued reports on PAAS. CIBC boosted their price target on shares of Pan American Silver from $50.00 to $62.00 and gave the stock an “outperformer” rating in a research note on Friday, October 10th. Jefferies Financial Group cut their price objective on Pan American Silver from $58.00 to $54.00 and set a “hold” rating on the stock in a research report on Wednesday, January 21st. Bank of America lifted their price objective on Pan American Silver from $46.00 to $51.00 and gave the company a “buy” rating in a research note on Monday, December 1st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Pan American Silver in a report on Monday, December 29th. Finally, Scotiabank lifted their price target on shares of Pan American Silver from $36.00 to $47.00 and gave the stock an “outperform” rating in a research note on Thursday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $45.00.

Institutional Investors Weigh In On Pan American Silver

Large investors have recently bought and sold shares of the stock. AQR Capital Management LLC boosted its stake in Pan American Silver by 48.6% during the 1st quarter. AQR Capital Management LLC now owns 19,529 shares of the basic materials company’s stock valued at $504,000 after acquiring an additional 6,391 shares during the last quarter. Jones Financial Companies Lllp increased its position in Pan American Silver by 574.9% in the 1st quarter. Jones Financial Companies Lllp now owns 19,518 shares of the basic materials company’s stock valued at $504,000 after acquiring an additional 16,626 shares during the period. Goldman Sachs Group Inc. boosted its position in Pan American Silver by 31.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,499,343 shares of the basic materials company’s stock worth $38,728,000 after acquiring an additional 360,283 shares during the period. Empowered Funds LLC bought a new position in shares of Pan American Silver in the first quarter worth $1,272,000. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in shares of Pan American Silver by 61.0% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 44,140 shares of the basic materials company’s stock valued at $1,289,000 after purchasing an additional 16,723 shares during the period. Institutional investors and hedge funds own 55.43% of the company’s stock.

Pan American Silver Trading Up 5.3%

The firm has a market capitalization of $28.65 billion, a P/E ratio of 39.57, a PEG ratio of 0.42 and a beta of 0.67. The business’s 50 day moving average is $49.74 and its two-hundred day moving average is $39.73. The company has a quick ratio of 1.55, a current ratio of 2.31 and a debt-to-equity ratio of 0.12.

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

Pan American Silver Increases Dividend

The company 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 of this dividend was Monday, November 24th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.8%. This is a boost from Pan American Silver’s previous quarterly dividend of $0.12. Pan American Silver’s dividend payout ratio (DPR) is presently 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.