Pan American Silver (NASDAQ:PAAS) Downgraded by Zacks Investment Research

Zacks Investment Research lowered shares of Pan American Silver (NASDAQ:PAASGet Rating) (TSE:PAAS) from a buy rating to a hold rating in a research note issued to investors on Friday morning, Zacks.com reports.

According to Zacks, “PAN AMER SILVER is a mining company focused exclusively on silver. Pan American Silver Corp. is founded upon a single mission, to become the best vehicle for equity investors wanting to gain real exposure to higher silver prices. To accomplish this they are striving to increase their low-cost silver production, to have the most successful silver exploration programs, to hold the largest silver reserves and resources, and to be the purest of the world’s large silver producers. “

PAAS has been the topic of a number of other reports. Canaccord Genuity Group upgraded shares of Pan American Silver from a hold rating to a buy rating and set a $30.00 target price on the stock in a research note on Thursday, May 12th. TheStreet raised shares of Pan American Silver from a c+ rating to a b- rating in a research report on Friday, March 25th. TD Securities lowered their price target on shares of Pan American Silver from $36.00 to $30.00 and set a buy rating for the company in a research report on Friday, May 13th. Canaccord Genuity Group raised shares of Pan American Silver from a hold rating to a buy rating and set a $30.00 price target for the company in a research report on Thursday, May 12th. Finally, National Bank Financial upped their price target on shares of Pan American Silver from C$41.00 to C$47.00 in a research report on Wednesday, April 20th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of Buy and an average target price of $34.43.

Shares of PAAS stock opened at $22.42 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.71 and a quick ratio of 1.41. The company has a market capitalization of $4.72 billion, a P/E ratio of 26.07, a P/E/G ratio of 3.31 and a beta of 1.25. The company’s 50-day simple moving average is $26.18 and its two-hundred day simple moving average is $25.09. Pan American Silver has a one year low of $20.59 and a one year high of $34.70.

Pan American Silver (NASDAQ:PAASGet Rating) (TSE:PAAS) last issued its earnings results on Wednesday, May 11th. The basic materials company reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.07). Pan American Silver had a return on equity of 5.90% and a net margin of 10.70%. During the same quarter in the prior year, the company earned $0.18 earnings per share. On average, research analysts expect that Pan American Silver will post 0.97 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 3rd. Shareholders of record on Tuesday, May 24th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Monday, May 23rd. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.14%. This is a boost from Pan American Silver’s previous quarterly dividend of $0.09. Pan American Silver’s dividend payout ratio (DPR) is currently 55.81%.

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Evoke Wealth LLC raised its holdings in shares of Pan American Silver by 90.4% in the fourth quarter. Evoke Wealth LLC now owns 990 shares of the basic materials company’s stock worth $25,000 after buying an additional 470 shares during the last quarter. Confluence Investment Management LLC raised its holdings in shares of Pan American Silver by 4.7% in the fourth quarter. Confluence Investment Management LLC now owns 10,719 shares of the basic materials company’s stock worth $268,000 after buying an additional 477 shares during the last quarter. Hollencrest Capital Management raised its holdings in shares of Pan American Silver by 3.0% in the first quarter. Hollencrest Capital Management now owns 17,117 shares of the basic materials company’s stock worth $468,000 after buying an additional 500 shares during the last quarter. Prelude Capital Management LLC raised its holdings in shares of Pan American Silver by 1.6% in the first quarter. Prelude Capital Management LLC now owns 32,602 shares of the basic materials company’s stock worth $890,000 after buying an additional 524 shares during the last quarter. Finally, Retirement Planning Co of New England Inc. raised its holdings in shares of Pan American Silver by 5.0% in the first quarter. Retirement Planning Co of New England Inc. now owns 12,282 shares of the basic materials company’s stock worth $335,000 after buying an additional 586 shares during the last quarter. 44.25% of the stock is owned by institutional investors and hedge funds.

About Pan American Silver (Get Rating)

Pan American Silver Corp., together with its subsidiaries, engages in the exploration, mine development, extraction, processing, refining, and reclamation of silver, gold, zinc, lead, and copper mines in Canada, Mexico, Peru, Argentina, and Bolivia. It holds interests in the La Colorada, Dolores, Huaron, Morococha, Shahuindo, La Arena, Timmins West, Bell Creek, Manantial Espejo, San Vicente, Joaquin, Cap-Oeste Sur Este, and Navidad mines.

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