Pan American Silver (NYSE:PAAS) Sets New 52-Week High – What’s Next?

by · The Cerbat Gem

Pan American Silver Corp. (NYSE:PAAS – Get Free Report) (TSE:PAAS) reached a new 52-week high during trading on Wednesday . The stock traded as high as $42.60 and last traded at $42.5690, with a volume of 7402604 shares. The stock had previously closed at $39.49.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on PAAS shares. Zacks Research lowered shares of Pan American Silver from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 19th. CIBC boosted their target price on shares of Pan American Silver from $50.00 to $62.00 and gave the company an “outperformer” rating in a report on Friday, October 10th. Scotiabank increased 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 note on Thursday, October 23rd. National Bankshares restated an “outperform” rating on shares of Pan American Silver in a report on Friday, September 5th. Finally, National Bank Financial raised shares of Pan American Silver to a “strong-buy” rating in a research report on Thursday, September 4th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $41.25.

Read Our Latest Stock Report on Pan American Silver

Pan American Silver Price Performance

The stock has a market cap of $17.97 billion, a price-to-earnings ratio of 29.36, a P/E/G ratio of 0.44 and a beta of 0.63. The company has a current ratio of 3.05, a quick ratio of 2.11 and a debt-to-equity ratio of 0.15. The company’s fifty day moving average is $37.47 and its two-hundred day moving average is $32.22.

Pan American Silver (NYSE:PAAS – Get Free Report) (TSE:PAAS) last released its quarterly earnings results on Wednesday, November 12th. The basic materials company reported $0.48 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.01). Pan American Silver had a return on equity of 11.49% and a net margin of 16.80%.The firm had revenue of $854.60 million for the quarter, compared to analysts’ expectations of $867.76 million. During the same quarter in the prior year, the business earned $0.32 earnings per share. The company’s quarterly revenue was up 19.3% on a year-over-year basis. As a group, research 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 will be paid on Friday, December 5th. Investors of record on Monday, November 24th will be issued a dividend of $0.14 per share. This is a positive change from Pan American Silver’s previous quarterly dividend of $0.12. The ex-dividend date is Monday, November 24th. This represents a $0.56 dividend on an annualized basis and a yield of 1.3%. Pan American Silver’s dividend payout ratio (DPR) is 32.37%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Harvest Portfolios Group Inc. boosted its position in Pan American Silver by 0.9% in the 3rd quarter. Harvest Portfolios Group Inc. now owns 36,240 shares of the basic materials company’s stock valued at $1,404,000 after buying an additional 318 shares during the period. MassMutual Private Wealth & Trust FSB increased its position in shares of Pan American Silver by 18.1% during the third quarter. MassMutual Private Wealth & Trust FSB now owns 2,373 shares of the basic materials company’s stock worth $92,000 after acquiring an additional 364 shares during the period. Parallel Advisors LLC raised 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 acquiring an additional 387 shares in the last quarter. 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, Truist Financial Corp boosted its holdings in Pan American Silver by 0.9% in the third quarter. Truist Financial Corp now owns 50,796 shares of the basic materials company’s stock valued at $1,967,000 after purchasing an additional 436 shares during the period. Institutional investors and hedge funds own 55.43% of the company’s stock.

About Pan American Silver

(Get Free Report)

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.

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