Pan American Silver (NYSE:PAAS) Trading Up 7% – What’s Next?

Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS)’s stock price rose 7% during trading on Friday . The stock traded as high as $45.52 and last traded at $45.5720. Approximately 3,294,017 shares were traded during mid-day trading, a decline of 35% from the average daily volume of 5,085,595 shares. The stock had previously closed at $42.59.

Wall Street Analyst Weigh In

Several research firms recently issued reports on PAAS. CIBC increased their price target on shares of Pan American Silver from $50.00 to $62.00 and gave the stock an “outperformer” rating in a research report on Friday, October 10th. National Bankshares reaffirmed an “outperform” rating on shares of Pan American Silver in a report on Friday, September 5th. National Bank Financial upgraded Pan American Silver to a “strong-buy” rating in a research note on Thursday, September 4th. Zacks Research upgraded Pan American Silver from a “hold” rating to a “strong-buy” rating in a research report on Tuesday. Finally, Wall Street Zen cut Pan American Silver from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 15th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Pan American Silver has an average rating of “Buy” and an average price target of $41.25.

Pan American Silver Trading Up 6.9%

The business’s fifty day moving average is $37.76 and its 200-day moving average is $32.36. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.11 and a current ratio of 3.05. The firm has a market cap of $19.21 billion, a P/E ratio of 31.40, a price-to-earnings-growth ratio of 0.44 and a beta of 0.63.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last announced its quarterly earnings results on Wednesday, November 12th. The basic materials company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.01). The business had revenue of $854.60 million during the quarter, compared to analyst estimates of $867.76 million. Pan American Silver had a net margin of 16.80% and a return on equity of 11.49%. The company’s revenue was up 19.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.32 earnings per share. Analysts predict that Pan American Silver Corp. will post 1.26 EPS for the current year.

Pan American Silver Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 5th. Investors of record on Monday, November 24th will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Monday, November 24th. This represents a $0.56 annualized dividend and a yield of 1.2%. This is an increase from Pan American Silver’s previous quarterly dividend of $0.12. Pan American Silver’s dividend payout ratio is 32.37%.

Hedge Funds Weigh In On Pan American Silver

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. CIBC Private Wealth Group LLC bought a new position in Pan American Silver during the 3rd quarter worth approximately $113,000. Coldstream Capital Management Inc. increased its position in shares of Pan American Silver by 108.2% during the third quarter. Coldstream Capital Management Inc. now owns 25,241 shares of the basic materials company’s stock worth $978,000 after buying an additional 13,116 shares during the period. Advisory Services Network LLC lifted its holdings in Pan American Silver by 53.3% in the third quarter. Advisory Services Network LLC now owns 11,931 shares of the basic materials company’s stock valued at $462,000 after buying an additional 4,148 shares during the period. NewEdge Advisors LLC boosted its position in Pan American Silver by 221.7% during the third quarter. NewEdge Advisors LLC now owns 9,812 shares of the basic materials company’s stock valued at $380,000 after acquiring an additional 6,762 shares during the last quarter. Finally, Parvin Asset Management LLC grew its holdings in Pan American Silver by 1.6% during the 3rd quarter. Parvin Asset Management LLC now owns 34,309 shares of the basic materials company’s stock worth $1,329,000 after acquiring an additional 550 shares during the period. 55.43% of the stock is owned by institutional investors and hedge funds.

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.