Scotiabank Cuts Pan American Silver (NYSE:PAAS) Price Target to $36.00

Pan American Silver (NYSE:PAAS) (TSE:PAAS) had its price target lowered by Scotiabank from $36.50 to $36.00 in a report published on Friday morning, Marketbeat Ratings reports. Scotiabank currently has an outperform rating on the basic materials company’s stock.

Several other brokerages also recently commented on PAAS. Wall Street Zen downgraded Pan American Silver from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 16th. CIBC reiterated an “outperform” rating on shares of Pan American Silver in a report on Tuesday, July 15th. TD Securities lowered their price target on Pan American Silver from $30.00 to $26.00 and set a “hold” rating on the stock in a report on Thursday, May 22nd. Finally, Zacks Research downgraded shares of Pan American Silver from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 19th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Pan American Silver currently has an average rating of “Moderate Buy” and a consensus price target of $32.20.

Pan American Silver Trading Up 3.0%

Shares of PAAS stock opened at $34.60 on Friday. Pan American Silver has a 12 month low of $18.50 and a 12 month high of $35.00. The company has a quick ratio of 2.11, a current ratio of 3.05 and a debt-to-equity ratio of 0.15. The business’s 50 day moving average is $30.48 and its two-hundred day moving average is $27.31. The company has a market cap of $12.52 billion, a PE ratio of 23.86, a price-to-earnings-growth ratio of 0.43 and a beta of 0.64.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last announced its quarterly earnings results on Wednesday, August 6th. The basic materials company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.40 by $0.03. Pan American Silver had a return on equity of 11.49% and a net margin of 16.80%.The company had revenue of $811.90 million for the quarter, compared to the consensus estimate of $782.12 million. During the same quarter last year, the company posted $0.11 earnings per share. The company’s revenue for the quarter was up 18.3% compared to the same quarter last year. Equities analysts predict that Pan American Silver will post 1.26 EPS for the current year.

Pan American Silver Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Monday, August 18th were paid a $0.12 dividend. The ex-dividend date was Monday, August 18th. This is a positive change from Pan American Silver’s previous quarterly dividend of $0.10. This represents a $0.48 annualized dividend and a dividend yield of 1.4%. Pan American Silver’s dividend payout ratio is 33.10%.

Institutional Investors Weigh In On Pan American Silver

A number of institutional investors have recently bought and sold shares of PAAS. Graybill Wealth Management LTD. acquired a new stake in Pan American Silver during the first quarter worth $33,000. Northwestern Mutual Wealth Management Co. boosted its stake in Pan American Silver by 53.6% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,703 shares of the basic materials company’s stock worth $48,000 after buying an additional 594 shares in the last quarter. Mark Sheptoff Financial Planning LLC acquired a new stake in Pan American Silver during the second quarter worth $51,000. Kiker Wealth Management LLC boosted its stake in Pan American Silver by 42.4% during the second quarter. Kiker Wealth Management LLC now owns 2,014 shares of the basic materials company’s stock worth $57,000 after buying an additional 600 shares in the last quarter. Finally, CWM LLC boosted its stake in Pan American Silver by 32.1% during the second quarter. CWM LLC now owns 2,264 shares of the basic materials company’s stock worth $64,000 after buying an additional 550 shares in the last quarter. Institutional investors and hedge funds own 55.43% of the company’s stock.

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.