Pan American Silver (NYSE:PAAS) Reaches New 12-Month High – Here’s What Happened

Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) shares reached a new 52-week high during trading on Wednesday . The company traded as high as $48.78 and last traded at $48.3290, with a volume of 17174922 shares changing hands. The stock had previously closed at $43.55.

Analyst Upgrades and Downgrades

Several research firms have issued reports on PAAS. Scotiabank raised their target price on Pan American Silver from $36.00 to $47.00 and gave the stock an “outperform” rating in a research note on Thursday, October 23rd. Wall Street Zen downgraded Pan American Silver from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 15th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $50.00 target price on shares of Pan American Silver in a research report on Sunday. CIBC increased their target price on shares of Pan American Silver from $50.00 to $62.00 and gave the stock an “outperformer” rating in a research note on Friday, October 10th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Pan American Silver in a research note on Monday. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $44.33.

Pan American Silver Stock Performance

The stock has a market capitalization of $20.40 billion, a PE ratio of 27.94, a price-to-earnings-growth ratio of 0.42 and a beta of 0.72. The company has a quick ratio of 1.55, a current ratio of 2.31 and a debt-to-equity ratio of 0.12. The stock has a fifty day moving average of $38.97 and a 200-day moving average of $33.72.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last posted its quarterly earnings results on Wednesday, November 12th. The basic materials company reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.01). The company had revenue of $854.60 million during the quarter, compared to analyst estimates of $867.76 million. Pan American Silver had a net margin of 19.52% and a return on equity of 11.66%. Pan American Silver’s revenue for the quarter was up 19.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.32 EPS. Equities analysts anticipate that Pan American Silver Corp. will post 1.26 earnings per share for the current fiscal year.

Pan American Silver Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 5th. Investors of record on Monday, November 24th were issued a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 1.2%. This is a positive change from Pan American Silver’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Monday, November 24th. Pan American Silver’s dividend payout ratio is 32.37%.

Institutional Investors Weigh In On Pan American Silver

Large investors have recently modified their holdings of the company. Parallel Advisors LLC lifted its position in shares of Pan American Silver by 151.8% during the 3rd quarter. Parallel Advisors LLC now owns 642 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 387 shares during the last quarter. Rothschild Investment LLC purchased a new stake in Pan American Silver during the 3rd quarter worth about $36,000. City State Bank boosted its position in shares of Pan American Silver by 74.4% during the 3rd quarter. City State Bank now owns 1,020 shares of the basic materials company’s stock worth $40,000 after acquiring an additional 435 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Pan American Silver by 93.6% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,028 shares of the basic materials company’s stock worth $40,000 after acquiring an additional 497 shares in the last quarter. Finally, Assetmark Inc. increased its holdings in shares of Pan American Silver by 3,111.4% in the 3rd quarter. Assetmark Inc. now owns 1,124 shares of the basic materials company’s stock valued at $44,000 after acquiring an additional 1,089 shares during the last quarter. 55.43% of the stock is owned by hedge funds and other institutional investors.

About Pan American Silver

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.