Analysts Set Pan American Silver Corp. (NYSE:PAAS) Price Target at $56.60

Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) has received an average recommendation of “Moderate Buy” from the nine brokerages that are currently covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $56.60.

A number of analysts have recently issued reports on PAAS shares. Wall Street Zen upgraded Pan American Silver from a “buy” rating to a “strong-buy” rating in a research report on Sunday, February 22nd. Canadian Imperial Bank of Commerce set a $88.00 target price on Pan American Silver and gave the stock an “outperform” rating in a research report on Wednesday, February 4th. Weiss Ratings reiterated a “buy (b)” rating on shares of Pan American Silver in a research note on Monday, December 29th. Zacks Research raised shares of Pan American Silver from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 24th. Finally, Jefferies Financial Group dropped their price objective on shares of Pan American Silver from $58.00 to $54.00 and set a “hold” rating for the company in a research note on Wednesday, January 21st.

Pan American Silver Stock Up 0.1%

Shares of PAAS opened at $55.80 on Friday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.97 and a current ratio of 2.69. The company has a 50-day simple moving average of $58.18 and a 200-day simple moving average of $48.69. Pan American Silver has a 52 week low of $20.55 and a 52 week high of $69.99. The firm has a market capitalization of $23.54 billion, a P/E ratio of 22.32, a P/E/G ratio of 0.45 and a beta of 0.75.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last issued its quarterly earnings results on Wednesday, February 18th. The basic materials company reported $1.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.21. Pan American Silver had a return on equity of 16.38% and a net margin of 27.07%.The firm had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same period in the previous year, the company posted $0.35 earnings per share. The company’s quarterly revenue was up 44.7% compared to the same quarter last year. On average, equities research analysts expect that Pan American Silver will post 1.26 earnings per share for the current year.

Pan American Silver Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Monday, March 2nd were paid a $0.18 dividend. The ex-dividend date of this dividend was Monday, March 2nd. This is an increase from Pan American Silver’s previous quarterly dividend of $0.14. This represents a $0.72 dividend on an annualized basis and a yield of 1.3%. Pan American Silver’s payout ratio is presently 28.80%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Parallel Advisors LLC raised its holdings 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 worth $25,000 after buying an additional 387 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in Pan American Silver in the 4th quarter valued at $34,000. Laurel Wealth Advisors LLC acquired a new stake in Pan American Silver in the 4th quarter valued at $41,000. Golden State Wealth Management LLC grew its position in Pan American Silver by 173.3% in the fourth quarter. Golden State Wealth Management LLC now owns 820 shares of the basic materials company’s stock valued at $42,000 after acquiring an additional 520 shares during the period. Finally, Rothschild Investment LLC bought a new stake in Pan American Silver in the third quarter valued at $36,000. Institutional investors own 55.43% of the company’s stock.

About Pan American Silver

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.