Pan American Silver (NYSE:PAAS) Cut to Hold at Zacks Research

Zacks Research cut shares of Pan American Silver (NYSE:PAAS) (TSE:PAAS) from a strong-buy rating to a hold rating in a research note issued to investors on Wednesday,Zacks.com reports.

PAAS has been the subject of several other research reports. Scotiabank raised their target price on Pan American Silver from $47.00 to $64.00 and gave the stock an “outperform” rating in a research note on Monday, January 26th. Wall Street Zen cut Pan American Silver from a “strong-buy” rating to a “buy” rating in a research note on Saturday, April 18th. Weiss Ratings reissued a “buy (b)” rating on shares of Pan American Silver in a research note on Monday, December 29th. Jefferies Financial Group cut their target price on 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. Finally, Canadian Imperial Bank of Commerce set a $88.00 price objective on Pan American Silver and gave the company an “outperform” rating in a research note on Wednesday, February 4th. Five investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $56.60.

Pan American Silver Price Performance

PAAS stock opened at $56.07 on Wednesday. The business has a fifty day moving average of $57.52 and a two-hundred day moving average of $50.83. The company has a quick ratio of 1.97, a current ratio of 2.69 and a debt-to-equity ratio of 0.11. The stock has a market cap of $23.63 billion, a price-to-earnings ratio of 22.43, a price-to-earnings-growth ratio of 0.47 and a beta of 0.75. Pan American Silver has a 52-week low of $22.08 and a 52-week high of $69.99.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last posted its earnings results on Wednesday, February 18th. The basic materials company reported $1.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.21. The company had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.11 billion. Pan American Silver had a return on equity of 16.38% and a net margin of 27.07%.The firm’s quarterly revenue was up 44.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.35 earnings per share. As a group, research analysts anticipate that Pan American Silver will post 4.32 earnings per share for the current year.

Pan American Silver Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 13th. Stockholders 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 a boost from Pan American Silver’s previous quarterly dividend of $0.14. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.3%. Pan American Silver’s payout ratio is presently 28.80%.

Institutional Investors Weigh In On Pan American Silver

Institutional investors have recently modified their holdings of the company. Parallel Advisors LLC grew its stake in shares of Pan American Silver by 151.8% in the third quarter. Parallel Advisors LLC now owns 642 shares of the basic materials company’s stock valued at $25,000 after buying an additional 387 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Pan American Silver in the fourth quarter valued at $34,000. Rothschild Investment LLC purchased a new position in Pan American Silver in the third quarter valued at $36,000. City State Bank boosted its holdings in Pan American Silver by 74.4% in 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. Finally, EverSource Wealth Advisors LLC boosted its holdings in Pan American Silver by 93.6% in 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. 55.43% of the stock is owned by institutional investors and hedge funds.

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.