Pan American Silver (NYSE:PAAS) Posts Earnings Results

Pan American Silver (NYSE:PAAS) (TSE:PAAS) announced its quarterly earnings results on Wednesday. The basic materials company reported $1.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.21, Zacks reports. Pan American Silver had a net margin of 27.07% and a return on equity of 17.52%. The business had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.11 billion. During the same period last year, the business earned $0.35 earnings per share. The business’s revenue for the quarter was up 44.7% on a year-over-year basis.

Pan American Silver Trading Up 5.5%

Shares of NYSE:PAAS opened at $61.21 on Friday. Pan American Silver has a 52 week low of $20.55 and a 52 week high of $69.99. The company’s 50 day moving average is $55.75 and its two-hundred day moving average is $43.50. The company has a market cap of $25.82 billion, a PE ratio of 24.49, a P/E/G ratio of 0.58 and a beta of 0.66. The company has a current ratio of 2.31, a quick ratio of 1.55 and a debt-to-equity ratio of 0.12.

Pan American Silver Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Monday, March 2nd will be given a $0.18 dividend. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.2%. This is a boost from Pan American Silver’s previous quarterly dividend of $0.14. Pan American Silver’s payout ratio is currently 32.37%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on PAAS shares. Bank of America increased their price objective on shares of Pan American Silver from $46.00 to $51.00 and gave the stock a “buy” rating in a research report on Monday, December 1st. Scotiabank raised their price target on Pan American Silver from $47.00 to $64.00 and gave the stock an “outperform” rating in a research report on Monday, January 26th. Zacks Research downgraded Pan American Silver from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 31st. Canadian Imperial Bank of Commerce set a $88.00 target price on Pan American Silver and gave the company an “outperform” rating in a research report on Wednesday, February 4th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Pan American Silver in a research report on Monday, December 29th. Five investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $56.60.

Hedge Funds Weigh In On Pan American Silver

Several large investors have recently bought and sold shares of PAAS. Parallel Advisors LLC raised its stake in Pan American Silver by 151.8% in the third 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. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Pan American Silver during the 4th quarter worth about $34,000. Golden State Wealth Management LLC lifted its stake in Pan American Silver by 173.3% during the fourth quarter. Golden State Wealth Management LLC now owns 820 shares of the basic materials company’s stock worth $42,000 after purchasing an additional 520 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in Pan American Silver by 53.6% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,703 shares of the basic materials company’s stock valued at $48,000 after purchasing an additional 594 shares in the last quarter. Finally, EFG International AG purchased a new position in Pan American Silver in the fourth quarter valued at approximately $54,000. Hedge funds and other institutional investors own 55.43% of the company’s stock.

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.