Pan American Silver (NYSE:PAAS) Trading Up 7.7% After Earnings Beat

Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS)’s stock price was up 7.7% during mid-day trading on Thursday following a stronger than expected earnings report. The stock traded as high as $20.06 and last traded at $20.06. Approximately 1,580,098 shares changed hands during mid-day trading, a decline of 63% from the average daily volume of 4,270,614 shares. The stock had previously closed at $18.63.

The basic materials company reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.07. Pan American Silver had a negative net margin of 5.24% and a positive return on equity of 0.44%. The firm had revenue of $601.40 million during the quarter, compared to analysts’ expectations of $592.58 million. During the same period last year, the firm posted $0.10 earnings per share. The firm’s revenue for the quarter was up 54.1% compared to the same quarter last year.

Pan American Silver Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Monday, March 4th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, March 1st. This represents a $0.40 annualized dividend and a yield of 1.94%. Pan American Silver’s payout ratio is presently -133.33%.

Analyst Ratings Changes

Several research analysts have recently weighed in on PAAS shares. StockNews.com raised shares of Pan American Silver from a “sell” rating to a “hold” rating in a research report on Wednesday, May 1st. TD Securities reduced their target price on Pan American Silver from $18.50 to $17.50 and set a “buy” rating for the company in a report on Friday, February 23rd. Jefferies Financial Group lifted their price target on Pan American Silver from $14.00 to $17.00 and gave the company a “hold” rating in a report on Monday, April 22nd. Scotiabank increased their price objective on Pan American Silver from $19.50 to $20.00 and gave the stock a “sector outperform” rating in a research note on Monday, April 8th. Finally, BMO Capital Markets lowered their target price on Pan American Silver from $27.00 to $22.00 and set an “outperform” rating on the stock in a research note on Thursday, January 18th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $21.00.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of PAAS. Van ECK Associates Corp increased its stake in shares of Pan American Silver by 1.4% during the 1st quarter. Van ECK Associates Corp now owns 46,486,439 shares of the basic materials company’s stock worth $701,016,000 after purchasing an additional 653,064 shares during the last quarter. Vanguard Group Inc. raised its holdings in Pan American Silver by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 13,065,572 shares of the basic materials company’s stock valued at $213,361,000 after buying an additional 176,979 shares in the last quarter. Invesco Ltd. lifted its position in shares of Pan American Silver by 9.7% in the third quarter. Invesco Ltd. now owns 5,895,109 shares of the basic materials company’s stock worth $85,361,000 after buying an additional 520,978 shares during the last quarter. Norges Bank bought a new stake in shares of Pan American Silver during the 4th quarter worth about $63,066,000. Finally, Ameriprise Financial Inc. increased its holdings in shares of Pan American Silver by 1.0% during the 3rd quarter. Ameriprise Financial Inc. now owns 3,080,846 shares of the basic materials company’s stock valued at $44,636,000 after acquiring an additional 31,618 shares during the last quarter. Hedge funds and other institutional investors own 55.43% of the company’s stock.

Pan American Silver Price Performance

The stock has a 50 day moving average of $16.60 and a two-hundred day moving average of $15.24. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.09 and a current ratio of 2.23. The firm has a market capitalization of $7.49 billion, a P/E ratio of -68.73, a P/E/G ratio of 2.49 and a beta of 1.36.

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.