Pan American Silver (NYSE:PAAS) Upgraded at Zacks Research

Zacks Research upgraded shares of Pan American Silver (NYSE:PAAS) (TSE:PAAS) from a hold rating to a strong-buy rating in a research report sent to investors on Tuesday morning,Zacks.com reports.

A number of other analysts have also commented on the company. Jefferies Financial Group cut their price target on Pan American Silver from $58.00 to $54.00 and set a “hold” rating on the stock in a research note on Wednesday, January 21st. Wall Street Zen raised Pan American Silver from a “buy” rating to a “strong-buy” rating in a research note on Sunday, February 22nd. Scotiabank raised their price objective on shares of Pan American Silver from $47.00 to $64.00 and gave the company an “outperform” rating in a report on Monday, January 26th. Weiss Ratings reiterated a “buy (b)” rating on shares of Pan American Silver in a research report on Monday, December 29th. Finally, Canadian Imperial Bank of Commerce set a $88.00 target price on shares of Pan American Silver and gave the stock an “outperform” rating in a report on Wednesday, February 4th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $56.60.

Pan American Silver Stock Down 3.4%

Shares of NYSE:PAAS opened at $49.70 on Tuesday. Pan American Silver has a 52-week low of $20.55 and a 52-week high of $69.99. The company has a market capitalization of $20.96 billion, a PE ratio of 19.88, a price-to-earnings-growth ratio of 0.42 and a beta of 0.62. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.97 and a current ratio of 2.69. The company has a fifty day moving average of $58.56 and a 200-day moving average of $48.09.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last released its quarterly earnings data on Wednesday, February 18th. The basic materials company reported $1.11 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.21. Pan American Silver had a return on equity of 16.38% and a net margin of 27.07%.The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter last year, the business posted $0.35 EPS. Pan American Silver’s revenue for the quarter was up 44.7% on a year-over-year basis. On average, equities analysts predict that Pan American Silver will post 1.26 EPS for the current fiscal year.

Pan American Silver Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Monday, March 2nd were issued a $0.18 dividend. The ex-dividend date was Monday, March 2nd. This is a boost from Pan American Silver’s previous quarterly dividend of $0.14. This represents a $0.72 annualized dividend and a yield of 1.4%. Pan American Silver’s dividend payout ratio (DPR) is currently 28.80%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Van ECK Associates Corp increased its position in shares of Pan American Silver by 51.8% during the third quarter. Van ECK Associates Corp now owns 45,142,060 shares of the basic materials company’s stock worth $1,748,355,000 after buying an additional 15,405,762 shares during the period. Arrowstreet Capital Limited Partnership lifted its holdings in Pan American Silver by 5,674.3% in the second quarter. Arrowstreet Capital Limited Partnership now owns 6,141,108 shares of the basic materials company’s stock valued at $174,406,000 after buying an additional 6,034,755 shares during the period. Norges Bank bought a new stake in Pan American Silver during the fourth quarter valued at $303,611,000. First Eagle Investment Management LLC bought a new stake in Pan American Silver during the third quarter valued at $178,004,000. Finally, FIL Ltd grew its holdings in Pan American Silver by 154.7% during the 4th quarter. FIL Ltd now owns 7,307,777 shares of the basic materials company’s stock worth $378,872,000 after acquiring an additional 4,438,478 shares during the period. 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.