Pan American Silver (NYSE:PAAS) Posts Quarterly Earnings Results, Misses Expectations By $0.11 EPS

Pan American Silver (NYSE:PAAS) (TSE:PAAS) issued its earnings results on Wednesday. The basic materials company reported $0.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.84 by ($0.11), Zacks reports. The firm had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.16 billion. Pan American Silver had a return on equity of 20.28% and a net margin of 32.04%.The company’s revenue for the quarter was up 38.4% compared to the same quarter last year. During the same period last year, the firm posted $0.43 earnings per share.

Pan American Silver Trading Up 0.0%

Shares of NYSE:PAAS traded up $0.02 during trading on Friday, hitting $47.32. The company had a trading volume of 3,095,067 shares, compared to its average volume of 6,300,146. The stock has a market cap of $19.74 billion, a price-to-earnings ratio of 14.29, a price-to-earnings-growth ratio of 4.53 and a beta of 0.73. Pan American Silver has a one year low of $30.59 and a one year high of $69.99. The company has a fifty day simple moving average of $45.95 and a two-hundred day simple moving average of $53.23. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.84 and a quick ratio of 2.11.

Pan American Silver Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 4th. Shareholders of record on Monday, August 24th will be given a dividend of $0.184 per share. This represents a $0.74 dividend on an annualized basis and a yield of 1.6%. This is a boost from Pan American Silver’s previous quarterly dividend of $0.18. The ex-dividend date is Monday, August 24th. Pan American Silver’s dividend payout ratio (DPR) is currently 21.75%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. BMO Capital Markets restated a “market perform” rating on shares of Pan American Silver in a report on Thursday. TD Securities upgraded Pan American Silver from a “hold” rating to a “buy” rating and set a $72.00 target price for the company in a research report on Monday, May 11th. Bank of America cut their target price on shares of Pan American Silver from $77.00 to $69.00 and set a “buy” rating for the company in a report on Thursday, July 9th. Weiss Ratings downgraded shares of Pan American Silver from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, July 16th. Finally, TD Cowen upgraded shares of Pan American Silver from a “hold” rating to a “buy” rating and increased their price objective for the company from $67.00 to $72.00 in a research report on Tuesday, May 12th. Eight investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $70.43.

Institutional Trading of Pan American Silver

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Parallel Advisors LLC boosted its stake in Pan American Silver by 151.8% during the third quarter. Parallel Advisors LLC now owns 642 shares of the basic materials company’s stock worth $25,000 after buying an additional 387 shares during the period. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Pan American Silver in the fourth quarter valued at $34,000. Golden State Wealth Management LLC raised its stake in shares of 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. EFG International AG bought a new stake in shares of Pan American Silver in the 4th quarter worth about $54,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of Pan American Silver in the 4th quarter worth about $58,000. 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.