Shares of Pan American Silver Corp. (NASDAQ:PAAS) (TSE:PAAS) gapped down prior to trading on Friday . The stock had previously closed at $21.21, but opened at $20.77. Pan American Silver shares last traded at $19.82, with a volume of 3,583,512 shares traded.
Several brokerages have weighed in on PAAS. ValuEngine upgraded Pan American Silver from a “sell” rating to a “hold” rating in a report on Tuesday, December 3rd. Zacks Investment Research cut Pan American Silver from a “buy” rating to a “hold” rating in a report on Thursday, November 14th. National Bank Financial raised Pan American Silver from a “sector perform” rating to an “outperform” rating and set a $31.00 price objective for the company in a research report on Friday, August 30th. B. Riley lowered their price objective on Pan American Silver from $23.20 to $19.00 and set a “neutral” rating for the company in a research report on Monday, October 21st. Finally, BidaskClub upgraded Pan American Silver from a “buy” rating to a “strong-buy” rating in a research note on Thursday, November 21st. Three analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $21.64.
The business’s fifty day moving average is $17.81 and its 200-day moving average is $15.58. The stock has a market capitalization of $4.35 billion, a PE ratio of 48.30, a P/E/G ratio of 8.58 and a beta of 0.07. The company has a quick ratio of 1.50, a current ratio of 2.76 and a debt-to-equity ratio of 0.14.
Pan American Silver (NASDAQ:PAAS) (TSE:PAAS) last posted its quarterly earnings results on Wednesday, November 6th. The basic materials company reported $0.35 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.10 by $0.25. The company had revenue of $352.19 million for the quarter, compared to the consensus estimate of $324.87 million. Pan American Silver had a net margin of 2.51% and a return on equity of 4.09%. Pan American Silver’s revenue was up 87.6% on a year-over-year basis. During the same quarter last year, the firm posted ($0.03) earnings per share. As a group, sell-side analysts anticipate that Pan American Silver Corp. will post 0.61 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Monday, November 18th were issued a dividend of $0.035 per share. The ex-dividend date was Friday, November 15th. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.71%. Pan American Silver’s payout ratio is 35.90%.
Hedge funds have recently added to or reduced their stakes in the company. Renaissance Technologies LLC increased its stake in Pan American Silver by 21.1% during the second quarter. Renaissance Technologies LLC now owns 8,805,213 shares of the basic materials company’s stock worth $113,678,000 after acquiring an additional 1,533,595 shares during the last quarter. Vanguard Group Inc. increased its position in Pan American Silver by 10.9% during the 2nd quarter. Vanguard Group Inc. now owns 5,495,778 shares of the basic materials company’s stock worth $70,950,000 after purchasing an additional 538,363 shares in the last quarter. Tocqueville Asset Management L.P. raised its holdings in Pan American Silver by 9.8% in the third quarter. Tocqueville Asset Management L.P. now owns 4,896,126 shares of the basic materials company’s stock valued at $76,771,000 after buying an additional 436,500 shares during the period. Investec Asset Management LTD raised its holdings in Pan American Silver by 22.8% in the second quarter. Investec Asset Management LTD now owns 4,470,052 shares of the basic materials company’s stock valued at $57,708,000 after buying an additional 829,417 shares during the period. Finally, Morgan Stanley lifted its position in Pan American Silver by 15.6% during the second quarter. Morgan Stanley now owns 3,902,979 shares of the basic materials company’s stock valued at $50,387,000 after buying an additional 527,447 shares in the last quarter. Institutional investors and hedge funds own 53.92% of the company’s stock.
About Pan American Silver (NASDAQ:PAAS)
Pan American Silver Corp., together with its subsidiaries, engages in the exploration, development, extraction, processing, refining, and reclamation of silver mines. The company owns and operates mines located in Mexico, Peru, Canada, Argentina, and Bolivia. It also produces and sells gold, zinc, lead, and copper.
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