CIBC Boosts Pan American Silver (NYSE:PAAS) Price Target to $35.00

Pan American Silver (NYSE:PAAS) (TSE:PAAS) had its target price raised by CIBC from $30.00 to $35.00 in a research report released on Wednesday morning, Benzinga reports. They currently have an outperformer rating on the basic materials company’s stock.

A number of other research analysts also recently issued reports on the stock. Scotiabank boosted their target price on shares of Pan American Silver from $20.00 to $23.00 and gave the company a sector outperform rating in a research report on Thursday, May 23rd. Jefferies Financial Group upped their price objective on shares of Pan American Silver from $14.00 to $17.00 and gave the stock a hold rating in a research report on Monday, April 22nd. BMO Capital Markets upped their price objective on shares of Pan American Silver from $22.00 to $24.00 in a research report on Tuesday, May 21st. Finally, StockNews.com upgraded shares of Pan American Silver from a sell rating to a hold rating in a research report on Saturday, May 11th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Pan American Silver currently has a consensus rating of Moderate Buy and a consensus target price of $23.92.

Pan American Silver Price Performance

NYSE PAAS opened at $23.72 on Wednesday. The company has a fifty day moving average of $20.79 and a 200 day moving average of $17.13. Pan American Silver has a 1 year low of $12.16 and a 1 year high of $24.14. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.92 and a current ratio of 2.11.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last posted its earnings results on Wednesday, May 8th. The basic materials company reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.07. The company had revenue of $601.40 million during the quarter, compared to the consensus estimate of $592.58 million. Pan American Silver had a negative net margin of 6.68% and a positive return on equity of 0.13%. The firm’s quarterly revenue was up 54.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.10 earnings per share. On average, research analysts anticipate that Pan American Silver will post 0.59 earnings per share for the current fiscal year.

Pan American Silver Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Tuesday, May 21st were given a dividend of $0.10 per share. The ex-dividend date was Monday, May 20th. This represents a $0.40 annualized dividend and a dividend yield of 1.69%. Pan American Silver’s dividend payout ratio (DPR) is presently -86.96%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. CWM LLC raised its position in shares of Pan American Silver by 31.6% during the 2nd quarter. CWM LLC now owns 2,124 shares of the basic materials company’s stock worth $42,000 after purchasing an additional 510 shares during the last quarter. Cetera Investment Advisers purchased a new stake in Pan American Silver during the 1st quarter valued at about $1,565,000. Virtu Financial LLC purchased a new stake in Pan American Silver during the 1st quarter valued at about $479,000. Bluefin Capital Management LLC purchased a new stake in Pan American Silver during the 1st quarter valued at about $302,000. Finally, Tidal Investments LLC grew its stake in Pan American Silver by 15,618.3% during the 1st quarter. Tidal Investments LLC now owns 3,803,507 shares of the basic materials company’s stock valued at $57,340,000 after acquiring an additional 3,779,309 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.