Pan American Silver (NYSE:PAAS) Reaches New 52-Week High Following Analyst Upgrade

Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS)’s share price hit a new 52-week high during trading on Monday after Wall Street Zen upgraded the stock from a hold rating to a buy rating. The company traded as high as $69.99 and last traded at $68.6260, with a volume of 2981936 shares changing hands. The stock had previously closed at $64.50.

A number of other research analysts have also issued reports on the stock. Bank of America lifted their price objective on shares of Pan American Silver from $46.00 to $51.00 and gave the company a “buy” rating in a research note on Monday, December 1st. Weiss Ratings reiterated a “buy (b)” rating on shares of Pan American Silver in a report on Monday, December 29th. Zacks Research downgraded Pan American Silver from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 31st. CIBC upped 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 note on Friday, October 10th. Finally, Jefferies Financial Group dropped their price target on shares of 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. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, Pan American Silver has an average rating of “Moderate Buy” and a consensus price target of $45.00.

Institutional Investors Weigh In On Pan American Silver

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Parallel Advisors LLC raised its holdings in shares of Pan American Silver by 151.8% during the third quarter. Parallel Advisors LLC now owns 642 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 387 shares during the period. Rothschild Investment LLC bought a new position in shares of Pan American Silver in the third quarter worth $36,000. City State Bank boosted its position in shares of Pan American Silver by 74.4% during the 3rd quarter. City State Bank now owns 1,020 shares of the basic materials company’s stock valued at $40,000 after acquiring an additional 435 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in Pan American Silver by 93.6% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,028 shares of the basic materials company’s stock worth $40,000 after buying an additional 497 shares in the last quarter. Finally, Assetmark Inc. lifted its holdings in shares of Pan American Silver by 3,111.4% during the 3rd quarter. Assetmark Inc. now owns 1,124 shares of the basic materials company’s stock worth $44,000 after acquiring an additional 1,089 shares during the last quarter. Institutional investors own 55.43% of the company’s stock.

Pan American Silver Stock Up 5.3%

The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.55 and a current ratio of 2.31. The stock’s 50 day moving average price is $49.74 and its 200-day moving average price is $39.73. The company has a market cap of $28.65 billion, a PE ratio of 39.57, a PEG ratio of 0.42 and a beta of 0.67.

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 company had revenue of $854.60 million for the quarter, compared to analysts’ expectations of $867.76 million. Pan American Silver had a net margin of 19.52% and a return on equity of 11.66%. Pan American Silver’s quarterly revenue was up 19.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.32 EPS. On average, analysts predict that Pan American Silver Corp. will post 1.26 earnings per share for the current year.

Pan American Silver Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 5th. Investors of record on Monday, November 24th were issued a $0.14 dividend. The ex-dividend date of this dividend was Monday, November 24th. This represents a $0.56 dividend on an annualized basis and a yield of 0.8%. This is an increase from Pan American Silver’s previous quarterly dividend of $0.12. Pan American Silver’s payout ratio is 32.37%.

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.