Pan American Silver (NYSE:PAAS) Sees Large Volume Increase – Here’s Why

Shares of Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) saw strong trading volume on Friday . 10,643,483 shares were traded during trading, an increase of 70% from the previous session’s volume of 6,246,955 shares.The stock last traded at $52.64 and had previously closed at $51.92.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Weiss Ratings cut Pan American Silver from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, July 16th. TD Cowen raised Pan American Silver from a “hold” rating to a “buy” rating and increased their price objective for the company from $67.00 to $72.00 in a research note on Tuesday, May 12th. Bank of America cut their target price on shares of Pan American Silver from $77.00 to $69.00 and set a “buy” rating on the stock in a report on Thursday, July 9th. Scotiabank reiterated an “outperform” rating on shares of Pan American Silver in a report on Tuesday, July 14th. Finally, Royal Bank Of Canada reissued an “outperform” rating and set a $75.00 price target on shares of Pan American Silver in a research report on Tuesday, April 28th. Eight research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $70.43.

Pan American Silver Stock Performance

The business has a fifty day moving average of $46.22 and a 200-day moving average of $52.75. The company has a market cap of $21.99 billion, a PE ratio of 15.93, a P/E/G ratio of 4.67 and a beta of 0.73. The company has a current ratio of 2.94, a quick ratio of 2.23 and a debt-to-equity ratio of 0.11.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last released its quarterly earnings data on Wednesday, August 12th. The basic materials company reported $0.73 earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter last year, the business posted $0.43 EPS. The company’s quarterly revenue was up 38.4% compared to the same quarter last year. Equities research analysts anticipate that Pan American Silver Corp. will post 4.03 earnings per share for the current fiscal year.

Pan American Silver Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 4th. Shareholders of record on Monday, August 24th will be issued a $0.184 dividend. This is a boost from Pan American Silver’s previous quarterly dividend of $0.18. The ex-dividend date is Monday, August 24th. This represents a $0.74 annualized dividend and a yield of 1.4%. Pan American Silver’s dividend payout ratio (DPR) is currently 21.75%.

Institutional Investors Weigh In On Pan American Silver

Several institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in shares of Pan American Silver by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 17,465,779 shares of the basic materials company’s stock valued at $905,513,000 after purchasing an additional 274,168 shares in the last quarter. Invesco Ltd. raised its stake in Pan American Silver by 9.8% in the third quarter. Invesco Ltd. now owns 9,898,397 shares of the basic materials company’s stock worth $383,365,000 after buying an additional 882,135 shares in the last quarter. BlackRock Inc. bought a new position in Pan American Silver in the second quarter worth about $375,948,000. FIL Ltd lifted its holdings in Pan American Silver by 154.7% in the fourth quarter. FIL Ltd now owns 7,307,777 shares of the basic materials company’s stock worth $378,872,000 after buying an additional 4,438,478 shares during the period. Finally, Norges Bank purchased a new stake in Pan American Silver in the fourth quarter worth about $303,611,000. 55.43% of the stock is owned by hedge funds and other institutional investors.

About Pan American Silver

Pan American Silver Corp. (NYSE: PAAS) is a Vancouver-based mining company and one of the world’s largest primary silver producers. The company’s core activities encompass the exploration, development, extraction and processing of silver, with significant by-product production of gold, zinc and lead. Pan American Silver maintains a vertically integrated operating model, covering the full mining value chain from resource discovery through to refined metal production.

With a geographic footprint concentrated across the Americas, Pan American Silver operates multiple mines in Mexico, Peru, Argentina and Bolivia, and is advancing several development and exploration projects in Chile and Ecuador.