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

Wall Street Zen cut shares of Pan American Silver (NYSE:PAAS) (TSE:PAAS) from a strong-buy rating to a buy rating in a research note issued to investors on Saturday morning.

PAAS has been the topic of several other research reports. CIBC lifted their price objective on Pan American Silver from $50.00 to $62.00 and gave the company an “outperformer” rating in a report on Friday, October 10th. National Bankshares reiterated an “outperform” rating on shares of Pan American Silver in a report on Friday, September 5th. Scotiabank cut their price objective on Pan American Silver from $36.50 to $36.00 and set an “outperform” rating on the stock in a report on Friday, September 5th. National Bank Financial upgraded Pan American Silver to a “strong-buy” rating in a report on Thursday, September 4th. Finally, Zacks Research cut Pan American Silver from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 19th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $38.50.

Pan American Silver Trading Down 8.5%

NYSE:PAAS opened at $38.47 on Friday. Pan American Silver has a 1-year low of $19.80 and a 1-year high of $42.57. The business’s 50-day moving average price is $35.89 and its two-hundred day moving average price is $29.97. The company has a current ratio of 3.05, a quick ratio of 2.11 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $16.24 billion, a price-to-earnings ratio of 26.53, a PEG ratio of 0.59 and a beta of 0.63.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last released its earnings results on Wednesday, August 6th. The basic materials company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.03. Pan American Silver had a return on equity of 11.49% and a net margin of 16.80%.The firm had revenue of $811.90 million for the quarter, compared to analyst estimates of $782.12 million. During the same quarter in the prior year, the firm posted $0.11 earnings per share. The company’s quarterly revenue was up 18.3% on a year-over-year basis. On average, equities analysts expect that Pan American Silver will post 1.26 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, August 29th. Investors of record on Monday, August 18th were given a $0.12 dividend. The ex-dividend date of this dividend was Monday, August 18th. This represents a $0.48 dividend on an annualized basis and a yield of 1.2%. This is a boost from Pan American Silver’s previous quarterly dividend of $0.10. Pan American Silver’s payout ratio is 33.10%.

Institutional Investors Weigh In On Pan American Silver

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vontobel Holding Ltd. acquired a new stake in Pan American Silver in the 2nd quarter valued at approximately $2,521,000. Concurrent Investment Advisors LLC acquired a new position in shares of Pan American Silver during the 1st quarter worth approximately $222,000. D.A. Davidson & CO. acquired a new position in shares of Pan American Silver during the 1st quarter worth approximately $358,000. Intech Investment Management LLC increased its position in shares of Pan American Silver by 189.0% during the 1st quarter. Intech Investment Management LLC now owns 107,952 shares of the basic materials company’s stock worth $2,788,000 after purchasing an additional 70,593 shares during the last quarter. Finally, Triasima Portfolio Management inc. increased its position in shares of Pan American Silver by 29.1% during the 2nd quarter. Triasima Portfolio Management inc. now owns 211,010 shares of the basic materials company’s stock worth $5,975,000 after purchasing an additional 47,500 shares during the last quarter. Institutional investors and hedge funds own 55.43% of the company’s stock.

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.