Pan American Silver (NYSE:PAAS) Downgraded to “Buy” Rating by Wall Street Zen

Wall Street Zen downgraded shares of Pan American Silver (NYSE:PAAS) (TSE:PAAS) from a strong-buy rating to a buy rating in a research report report published on Sunday.

Other research analysts have also recently issued research reports about the stock. Jefferies Financial Group reduced their target price on shares of Pan American Silver from $58.00 to $54.00 and set a “hold” rating for the company in a report on Wednesday, January 21st. Zacks Research cut shares of Pan American Silver from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 22nd. Royal Bank Of Canada restated an “outperform” rating and set a $75.00 target price on shares of Pan American Silver in a report on Tuesday, April 28th. Canadian Imperial Bank of Commerce set a $88.00 price target on shares of Pan American Silver and gave the stock an “outperform” rating in a research report on Wednesday, February 4th. Finally, Scotiabank upped their price target on shares of Pan American Silver from $47.00 to $64.00 and gave the stock an “outperform” rating in a research report on Monday, January 26th. Six investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $59.67.

Pan American Silver Stock Performance

Shares of PAAS opened at $59.18 on Friday. Pan American Silver has a 12 month low of $22.08 and a 12 month high of $69.99. The firm has a fifty day simple moving average of $56.47 and a 200 day simple moving average of $51.68. The stock has a market capitalization of $24.94 billion, a price-to-earnings ratio of 19.03, a PEG ratio of 0.49 and a beta of 0.65. The company has a current ratio of 2.84, a quick ratio of 2.11 and a debt-to-equity ratio of 0.11.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last announced its earnings results on Tuesday, May 5th. The basic materials company reported $1.09 EPS for the quarter, topping the consensus estimate of $1.06 by $0.03. Pan American Silver had a net margin of 31.66% and a return on equity of 19.50%. The business had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.25 billion. During the same quarter in the prior year, the company posted $0.42 earnings per share. The firm’s revenue was up 49.3% on a year-over-year basis. Research analysts forecast that Pan American Silver will post 4.45 EPS for the current fiscal year.

Pan American Silver Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Tuesday, May 19th will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Tuesday, May 19th. Pan American Silver’s dividend payout ratio is 23.15%.

Institutional Trading of Pan American Silver

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Veracity Capital LLC raised its position in Pan American Silver by 1.9% during the fourth quarter. Veracity Capital LLC now owns 9,868 shares of the basic materials company’s stock worth $511,000 after acquiring an additional 185 shares in the last quarter. RFG Advisory LLC raised its position in Pan American Silver by 2.5% during the first quarter. RFG Advisory LLC now owns 7,731 shares of the basic materials company’s stock worth $422,000 after acquiring an additional 191 shares in the last quarter. Grand Central Investment Group raised its position in Pan American Silver by 0.5% during the first quarter. Grand Central Investment Group now owns 44,801 shares of the basic materials company’s stock worth $2,447,000 after acquiring an additional 211 shares in the last quarter. Metis Global Partners LLC raised its position in shares of Pan American Silver by 1.5% in the fourth quarter. Metis Global Partners LLC now owns 16,646 shares of the basic materials company’s stock valued at $863,000 after purchasing an additional 239 shares during the period. Finally, North Star Investment Management Corp. raised its position in shares of Pan American Silver by 7.8% in the first quarter. North Star Investment Management Corp. now owns 3,451 shares of the basic materials company’s stock valued at $189,000 after purchasing an additional 251 shares during the period. 55.43% of the stock is owned by institutional investors.

About Pan American Silver

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.