Pan American Silver (NYSE:PAAS) Reaches New 12-Month High – Here’s Why

Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS)’s stock price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $25.14 and last traded at $25.14, with a volume of 118782 shares trading hands. The stock had previously closed at $24.41.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on PAAS. CIBC boosted their price objective on Pan American Silver from $30.00 to $35.00 and gave the company an “outperformer” rating in a report on Wednesday, July 10th. Jefferies Financial Group boosted their price target on shares of Pan American Silver from $21.00 to $23.00 and gave the company a “hold” rating in a report on Friday, October 4th. Scotiabank increased their target price on Pan American Silver from $23.00 to $26.00 and gave the company a “sector outperform” rating in a research report on Tuesday, July 16th. Finally, Royal Bank of Canada raised their price target on shares of Pan American Silver from $25.00 to $27.00 and gave the company an “outperform” rating in a report on Tuesday, September 10th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $24.93.

Pan American Silver Stock Performance

The company has a market capitalization of $9.15 billion, a PE ratio of -53.07 and a beta of 1.35. The company has a quick ratio of 0.92, a current ratio of 2.06 and a debt-to-equity ratio of 0.16. The business has a 50 day simple moving average of $20.93 and a 200 day simple moving average of $20.62.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last announced its quarterly earnings data on Wednesday, August 7th. The basic materials company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.04). The company had revenue of $686.30 million during the quarter, compared to analysts’ expectations of $696.08 million. Pan American Silver had a negative net margin of 5.54% and a positive return on equity of 0.66%. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.04 earnings per share. Equities research analysts predict that Pan American Silver Corp. will post 0.64 EPS for the current fiscal year.

Pan American Silver Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Monday, August 19th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date was Monday, August 19th. Pan American Silver’s dividend payout ratio (DPR) is presently -86.96%.

Institutional Trading of Pan American Silver

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PAAS. Mark Sheptoff Financial Planning LLC raised its stake in shares of Pan American Silver by 943.4% in the second quarter. Mark Sheptoff Financial Planning LLC now owns 1,659 shares of the basic materials company’s stock worth $33,000 after purchasing an additional 1,500 shares during the last quarter. Perritt Capital Management Inc. raised its position in Pan American Silver by 76.9% during the 1st quarter. Perritt Capital Management Inc. now owns 2,300 shares of the basic materials company’s stock worth $35,000 after buying an additional 1,000 shares during the last quarter. CWM LLC lifted its stake in Pan American Silver by 31.6% during the 2nd quarter. CWM LLC now owns 2,124 shares of the basic materials company’s stock valued at $42,000 after acquiring an additional 510 shares during the period. UniSuper Management Pty Ltd boosted its holdings in shares of Pan American Silver by 73.3% in the 1st quarter. UniSuper Management Pty Ltd now owns 5,200 shares of the basic materials company’s stock valued at $78,000 after acquiring an additional 2,200 shares during the last quarter. Finally, Signaturefd LLC increased its stake in shares of Pan American Silver by 11.6% in the second quarter. Signaturefd LLC now owns 7,469 shares of the basic materials company’s stock worth $148,000 after acquiring an additional 774 shares during the period. Institutional investors and hedge funds own 55.43% of the company’s stock.

Pan American Silver Company Profile

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.