Pan American Silver (NYSE:PAAS) Reaches New 1-Year High – Here’s What Happened

Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS)’s share price reached a new 52-week high during trading on Monday . The company traded as high as $56.54 and last traded at $56.4190, with a volume of 1395846 shares. The stock had previously closed at $54.27.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on PAAS. Weiss Ratings restated a “buy (b)” rating on shares of Pan American Silver in a research note on Monday, December 29th. Zacks Research downgraded shares of Pan American Silver from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 31st. Scotiabank lifted 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. Wall Street Zen lowered shares of Pan American Silver from a “buy” rating to a “hold” rating in a research note on Saturday. Finally, Jefferies Financial Group reissued a “hold” rating and set a $50.00 price target on shares of Pan American Silver in a report on Sunday, December 7th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $44.33.

Pan American Silver Stock Up 3.3%

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 company has a fifty day simple moving average of $45.45 and a 200-day simple moving average of $37.70. The firm has a market cap of $23.67 billion, a P/E ratio of 32.31, a price-to-earnings-growth ratio of 0.33 and a beta of 0.67.

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

Pan American Silver Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 5th. Shareholders of record on Monday, November 24th were given a $0.14 dividend. The ex-dividend date was Monday, November 24th. This is an increase from Pan American Silver’s previous quarterly dividend of $0.12. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.0%. Pan American Silver’s dividend payout ratio (DPR) is currently 32.37%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Parallel Advisors LLC raised its holdings in Pan American Silver by 151.8% during the third quarter. Parallel Advisors LLC now owns 642 shares of the basic materials company’s stock valued at $25,000 after acquiring an additional 387 shares during the period. Rothschild Investment LLC purchased a new stake in shares of Pan American Silver during the third quarter worth about $36,000. City State Bank raised its stake in 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 valued at $40,000 after purchasing an additional 435 shares during the period. EverSource Wealth Advisors LLC raised its stake in 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 valued at $40,000 after purchasing an additional 497 shares during the period. Finally, Assetmark Inc. lifted its holdings in 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 worth $44,000 after purchasing an additional 1,089 shares in the last quarter. Hedge funds and other institutional investors own 55.43% of the company’s stock.

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.