Pan American Silver (NYSE:PAAS) Reaches New 1-Year High – Here’s What Happened

Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS)’s share price hit a new 52-week high during mid-day trading on Friday . The company traded as high as $55.44 and last traded at $54.6270, with a volume of 114255 shares traded. The stock had previously closed at $53.83.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. CIBC raised their price objective on shares of Pan American Silver from $50.00 to $62.00 and gave the company an “outperformer” rating in a research note on Friday, October 10th. Scotiabank raised their price target on shares of Pan American Silver from $36.00 to $47.00 and gave the company an “outperform” rating in a research report on Thursday, October 23rd. Weiss Ratings restated a “buy (b)” rating on shares of Pan American Silver in a report on Monday, December 22nd. National Bankshares reiterated an “outperform” rating on shares of Pan American Silver in a research note on Friday, September 5th. Finally, Bank of America lifted their target price on Pan American Silver from $46.00 to $51.00 and gave the stock a “buy” rating in a report on Monday, December 1st. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Pan American Silver presently has a consensus rating of “Moderate Buy” and a consensus price target of $44.33.

Pan American Silver Stock Performance

The firm has a market cap of $23.41 billion, a P/E ratio of 32.07, a P/E/G ratio of 0.52 and a beta of 0.72. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.55 and a current ratio of 2.31. The business’s 50-day simple moving average is $42.05 and its 200 day simple moving average is $35.96.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last released its quarterly earnings results on Wednesday, November 12th. The basic materials company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.01). Pan American Silver had a net margin of 19.52% and a return on equity of 11.66%. The firm had revenue of $854.60 million for the quarter, compared to the consensus estimate of $867.76 million. During the same period in the previous year, the company earned $0.32 earnings per share. Pan American Silver’s quarterly revenue was up 19.3% compared to the same quarter last year. As a group, equities analysts predict that Pan American Silver Corp. will post 1.26 earnings per share for the current year.

Pan American Silver Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 5th. Shareholders of record on Monday, November 24th were given a $0.14 dividend. The ex-dividend date of this dividend was Monday, November 24th. This is a positive change from Pan American Silver’s previous quarterly dividend of $0.12. This represents a $0.56 annualized dividend and a yield of 1.0%. Pan American Silver’s payout ratio is 32.37%.

Hedge Funds Weigh In On Pan American Silver

Institutional investors have recently made changes to their positions in the business. Parallel Advisors LLC boosted its stake in shares of Pan American Silver by 151.8% during the 3rd quarter. Parallel Advisors LLC now owns 642 shares of the basic materials company’s stock worth $25,000 after acquiring an additional 387 shares during the last quarter. Rothschild Investment LLC purchased a new position in Pan American Silver during the third quarter valued at $36,000. City State Bank grew its holdings in Pan American Silver by 74.4% during the third quarter. City State Bank now owns 1,020 shares of the basic materials company’s stock valued at $40,000 after purchasing an additional 435 shares during the period. EverSource Wealth Advisors LLC grew its holdings in Pan American Silver by 93.6% during the third quarter. EverSource Wealth Advisors LLC now owns 1,028 shares of the basic materials company’s stock valued at $40,000 after purchasing an additional 497 shares during the period. Finally, Assetmark Inc. increased its position in Pan American Silver by 3,111.4% in the third quarter. Assetmark Inc. now owns 1,124 shares of the basic materials company’s stock worth $44,000 after buying an additional 1,089 shares in the last quarter. 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.