Royal Bank Of Canada Cuts Pan American Silver (NYSE:PAAS) Price Target to $56.00

Pan American Silver (NYSE:PAAS) (TSE:PAAS) had its price objective cut by Royal Bank Of Canada from $65.00 to $56.00 in a report released on Wednesday morning,Benzinga reports. They currently have an outperform rating on the basic materials company’s stock.

Other equities research analysts also recently issued research reports about the stock. Bank of America reduced their price objective on shares of Pan American Silver from $77.00 to $69.00 and set a “buy” rating for the company in a report on Thursday, July 9th. Weiss Ratings cut shares of Pan American Silver from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, July 16th. BMO Capital Markets restated a “market perform” rating on shares of Pan American Silver in a research report on Thursday, August 13th. Wall Street Zen lowered shares of Pan American Silver from a “buy” rating to a “hold” rating in a research note on Saturday, August 15th. Finally, Jefferies Financial Group decreased their price objective on shares of Pan American Silver from $54.00 to $53.00 and set a “hold” rating for the company in a report on Monday, July 6th. Seven investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, Pan American Silver presently has an average rating of “Moderate Buy” and a consensus price target of $67.71.

Pan American Silver Stock Up 0.8%

PAAS opened at $50.02 on Wednesday. The stock’s 50 day moving average price is $48.29 and its 200 day moving average price is $51.57. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.94 and a quick ratio of 2.23. The stock has a market cap of $20.70 billion, a P/E ratio of 15.11, a P/E/G ratio of 4.88 and a beta of 0.77. Pan American Silver has a 12 month low of $33.08 and a 12 month high of $69.99.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last announced its quarterly earnings results on Wednesday, August 12th. The basic materials company reported $0.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.11). Pan American Silver had a return on equity of 20.01% and a net margin of 32.04%.The business had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same quarter last year, the firm posted $0.43 EPS. The company’s revenue was up 38.4% compared to the same quarter last year. As a group, research analysts predict that Pan American Silver will post 3.81 earnings per share for the current year.

Pan American Silver Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 4th. Investors of record on Monday, August 24th were paid a dividend of $0.184 per share. This is an increase from Pan American Silver’s previous quarterly dividend of $0.18. This represents a $0.74 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend was Monday, August 24th. Pan American Silver’s dividend payout ratio (DPR) is 22.36%.

Institutional Investors Weigh In On Pan American Silver

Hedge funds and other institutional investors have recently bought and sold shares of the business. Sequoia Financial Advisors LLC lifted its stake in Pan American Silver by 5.6% during the second quarter. Sequoia Financial Advisors LLC now owns 10,997 shares of the basic materials company’s stock valued at $493,000 after purchasing an additional 585 shares during the last quarter. Integrated Wealth Concepts LLC lifted its position in shares of Pan American Silver by 34.3% during the 2nd quarter. Integrated Wealth Concepts LLC now owns 16,199 shares of the basic materials company’s stock valued at $726,000 after acquiring an additional 4,136 shares during the last quarter. NewEdge Advisors LLC boosted its stake in shares of Pan American Silver by 871.7% during the 2nd quarter. NewEdge Advisors LLC now owns 229,888 shares of the basic materials company’s stock worth $10,297,000 after acquiring an additional 206,230 shares in the last quarter. Spark Investment Management LLC acquired a new position in shares of Pan American Silver in the 2nd quarter worth $582,000. Finally, Allworth Financial LP raised its position in shares of Pan American Silver by 54.7% during the second quarter. Allworth Financial LP now owns 1,601 shares of the basic materials company’s stock worth $72,000 after purchasing an additional 566 shares during the period. 55.43% of the stock is currently owned by institutional investors.

Pan American Silver Company Profile

Pan American Silver Corp. is a mining company focused primarily on the exploration, development and production of silver and gold. Its operations also produce byproduct metals, including zinc, lead and copper, depending on the mine and ore deposit.

Founded in 1994 and headquartered in Vancouver, British Columbia, Pan American Silver operates mines and development projects across the Americas. The company’s geographic footprint has included Canada, Mexico, Peru, Bolivia, Argentina, Chile and Brazil, giving it exposure to several of the region’s major silver and gold mining jurisdictions.

Pan American expanded its portfolio through the acquisition of Yamana Gold’s Latin American assets in 2023.