Pan American Silver (NYSE:PAAS) Issues Quarterly Earnings Results

Pan American Silver (NYSE:PAAS) (TSE:PAAS) issued its quarterly earnings results on Wednesday. The basic materials company reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.01), Zacks reports. Pan American Silver had a return on equity of 11.49% and a net margin of 16.80%.

Pan American Silver Price Performance

Shares of Pan American Silver stock traded up $0.78 during trading on Wednesday, hitting $38.37. 7,885,296 shares of the company’s stock traded hands, compared to its average volume of 5,068,435. The company has a market cap of $16.19 billion, a PE ratio of 26.46, a PEG ratio of 0.44 and a beta of 0.63. The firm’s fifty day moving average price is $36.96 and its 200 day moving average price is $31.28. Pan American Silver has a twelve month low of $19.80 and a twelve month high of $42.57. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.05 and a quick ratio of 2.11.

Institutional Investors Weigh In On Pan American Silver

Several large investors have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Pan American Silver by 53.6% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,703 shares of the basic materials company’s stock worth $48,000 after buying an additional 594 shares in the last quarter. NewEdge Advisors LLC grew its position in Pan American Silver by 25.8% in the second quarter. NewEdge Advisors LLC now owns 3,050 shares of the basic materials company’s stock valued at $87,000 after acquiring an additional 625 shares during the period. Worldquant Millennium Advisors LLC acquired a new position in Pan American Silver during the second quarter worth $271,000. Daiwa Securities Group Inc. acquired a new position in Pan American Silver during the second quarter worth $281,000. Finally, Captrust Financial Advisors bought a new position in shares of Pan American Silver during the second quarter valued at $313,000. 55.43% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

PAAS has been the topic of a number of research reports. Scotiabank boosted their target price on shares of Pan American Silver from $36.00 to $47.00 and gave the stock an “outperform” rating in a research report on Thursday, October 23rd. National Bankshares restated an “outperform” rating on shares of Pan American Silver in a report on Friday, September 5th. Wall Street Zen raised shares of Pan American Silver from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 1st. Weiss Ratings reiterated a “buy (b)” rating on shares of Pan American Silver in a research note on Tuesday. Finally, CIBC boosted their price target on Pan American Silver from $50.00 to $62.00 and gave the company an “outperformer” rating in a research note on Friday, October 10th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $41.25.

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.