Pan American Silver (NYSE:PAAS) Hits New 52-Week High – Still a Buy?

Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) shares reached a new 52-week high on Friday . The stock traded as high as $30.33 and last traded at $29.93, with a volume of 1380530 shares trading hands. The stock had previously closed at $29.34.

Analyst Ratings Changes

A number of brokerages have commented on PAAS. Scotiabank reissued a “sector perform” rating on shares of Pan American Silver in a research note on Monday, April 14th. Wall Street Zen raised shares of Pan American Silver from a “buy” rating to a “strong-buy” rating in a research report on Thursday, May 15th. National Bankshares reaffirmed an “outperform” rating on shares of Pan American Silver in a research report on Wednesday, April 2nd. CIBC lifted their price objective on shares of Pan American Silver from $38.00 to $42.00 and gave the stock an “outperformer” rating in a research report on Thursday, May 8th. Finally, BMO Capital Markets began coverage on shares of Pan American Silver in a research report on Wednesday, April 16th. They issued a “market perform” rating on the stock. Four research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $30.60.

Pan American Silver Stock Performance

The company has a market cap of $10.98 billion, a PE ratio of 34.86, a P/E/G ratio of 0.53 and a beta of 0.67. The company has a current ratio of 2.93, a quick ratio of 1.94 and a debt-to-equity ratio of 0.16. The firm’s 50-day simple moving average is $26.79 and its two-hundred day simple moving average is $24.98.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last released its earnings results on Wednesday, May 7th. The basic materials company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.23. Pan American Silver had a net margin of 10.45% and a return on equity of 9.25%. The company had revenue of $773.20 million for the quarter, compared to the consensus estimate of $696.62 million. During the same quarter in the previous year, the firm earned $0.01 EPS. Pan American Silver’s revenue was up 28.6% compared to the same quarter last year. As a group, research analysts anticipate that Pan American Silver Corp. will post 1.26 earnings per share for the current fiscal year.

Pan American Silver Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Tuesday, May 20th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.32%. The ex-dividend date of this dividend was Tuesday, May 20th. Pan American Silver’s payout ratio is 45.98%.

Institutional Trading of Pan American Silver

Several institutional investors and hedge funds have recently bought and sold shares of the business. Farther Finance Advisors LLC lifted its stake in Pan American Silver by 38.0% during the 2nd quarter. Farther Finance Advisors LLC now owns 3,754 shares of the basic materials company’s stock valued at $107,000 after acquiring an additional 1,034 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in Pan American Silver by 61.0% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 44,140 shares of the basic materials company’s stock valued at $1,289,000 after acquiring an additional 16,723 shares during the period. Fruth Investment Management acquired a new stake in Pan American Silver during the 1st quarter valued at approximately $206,000. Intech Investment Management LLC lifted its stake in shares of Pan American Silver by 189.0% in the 1st quarter. Intech Investment Management LLC now owns 107,952 shares of the basic materials company’s stock valued at $2,788,000 after purchasing an additional 70,593 shares during the period. Finally, Empowered Funds LLC acquired a new position in shares of Pan American Silver in the 1st quarter valued at $1,272,000. 55.43% of the stock is currently owned by institutional investors and hedge funds.

About Pan American Silver

Pan American Silver Corp. engages in the exploration, mine development, extraction, processing, refining, and reclamation of silver, gold, zinc, lead, and copper mines in Canada, Mexico, Peru, Bolivia, Argentina, Chile, and Brazil. The company was formerly known as Pan American Minerals Corp. and changed its name to Pan American Silver Corp.