Pan American Silver (NYSE:PAAS) Issues Quarterly Earnings Results, Beats Estimates By $0.21 EPS

Pan American Silver (NYSE:PAAS) (TSE:PAAS) released its earnings results on Wednesday. The basic materials company reported $1.11 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.21, Zacks reports. Pan American Silver had a net margin of 19.52% and a return on equity of 11.66%.

Pan American Silver Price Performance

NYSE PAAS traded up $2.02 on Wednesday, reaching $58.11. 7,462,607 shares of the stock traded hands, compared to its average volume of 9,168,845. Pan American Silver has a 12 month low of $20.55 and a 12 month high of $69.99. The company has a market cap of $24.51 billion, a price-to-earnings ratio of 33.59, a P/E/G ratio of 0.58 and a beta of 0.66. The firm’s fifty day simple moving average is $55.34 and its 200 day simple moving average is $43.27. The company has a quick ratio of 1.55, a current ratio of 2.31 and a debt-to-equity ratio of 0.12.

Analyst Ratings Changes

A number of equities analysts have issued reports on PAAS shares. Canadian Imperial Bank of Commerce set a $88.00 target price on shares of Pan American Silver and gave the stock an “outperform” rating in a report on Wednesday, February 4th. Bank of America boosted their price objective on Pan American Silver from $46.00 to $51.00 and gave the company a “buy” rating in a research report on Monday, December 1st. Scotiabank upped their price target on shares of Pan American Silver from $47.00 to $64.00 and gave the stock an “outperform” rating in a research report on Monday, January 26th. Jefferies Financial Group cut their price objective on shares of Pan American Silver from $58.00 to $54.00 and set a “hold” rating on the stock in a research report on Wednesday, January 21st. Finally, Zacks Research lowered shares of Pan American Silver from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 31st. Five investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $56.60.

Institutional Investors Weigh In On Pan American Silver

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Invesco Ltd. boosted its position in shares of Pan American Silver by 9.8% during the 3rd quarter. Invesco Ltd. now owns 9,898,397 shares of the basic materials company’s stock valued at $383,365,000 after purchasing an additional 882,135 shares in the last quarter. FIL Ltd boosted its holdings in Pan American Silver by 154.7% during 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 in the last quarter. Ameriprise Financial Inc. grew its position in Pan American Silver by 6.0% in the second quarter. Ameriprise Financial Inc. now owns 4,038,617 shares of the basic materials company’s stock worth $114,747,000 after buying an additional 226,933 shares during the last quarter. Bank of America Corp DE grew its position in Pan American Silver by 148.3% in the second quarter. Bank of America Corp DE now owns 3,368,233 shares of the basic materials company’s stock worth $95,658,000 after buying an additional 2,011,862 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of Pan American Silver by 24.0% during the 4th quarter. The Manufacturers Life Insurance Company now owns 2,937,145 shares of the basic materials company’s stock worth $152,430,000 after acquiring an additional 568,452 shares in the last quarter. 55.43% of the stock is owned by institutional investors and hedge funds.

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.