Pan American Silver (NYSE:PAAS) Announces Quarterly Earnings Results, Beats Estimates By $0.03 EPS

Pan American Silver (NYSE:PAAS) (TSE:PAAS) released its earnings results on Tuesday. The basic materials company reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.03, Zacks reports. Pan American Silver had a net margin of 27.07% and a return on equity of 16.38%.

Pan American Silver Stock Down 1.1%

Shares of NYSE PAAS traded down $0.57 during trading on Tuesday, hitting $50.54. 3,504,857 shares of the company traded hands, compared to its average volume of 7,591,350. The business’s fifty day moving average is $57.08 and its 200 day moving average is $51.37. Pan American Silver has a fifty-two week low of $22.08 and a fifty-two week high of $69.99. The firm has a market capitalization of $21.30 billion, a price-to-earnings ratio of 20.22, a P/E/G ratio of 0.43 and a beta of 0.65. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.97 and a current ratio of 2.69.

Pan American Silver Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Monday, March 2nd were issued a dividend of $0.18 per share. This is an increase from Pan American Silver’s previous quarterly dividend of $0.14. This represents a $0.72 annualized dividend and a dividend yield of 1.4%. The ex-dividend date was Monday, March 2nd. Pan American Silver’s dividend payout ratio (DPR) is currently 28.80%.

Hedge Funds Weigh In On Pan American Silver

Several institutional investors have recently made changes to their positions in PAAS. Invesco Ltd. raised its holdings in shares of Pan American Silver by 9.8% in the 3rd quarter. Invesco Ltd. now owns 9,898,397 shares of the basic materials company’s stock worth $383,365,000 after acquiring an additional 882,135 shares during the last quarter. FIL Ltd raised its holdings in shares of Pan American Silver by 154.7% in the 4th quarter. FIL Ltd now owns 7,307,777 shares of the basic materials company’s stock worth $378,872,000 after acquiring an additional 4,438,478 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Pan American Silver by 6.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 4,038,617 shares of the basic materials company’s stock worth $114,747,000 after acquiring an additional 226,933 shares during the last quarter. Bank of America Corp DE raised its holdings in shares of Pan American Silver by 148.3% in the 2nd quarter. Bank of America Corp DE now owns 3,368,233 shares of the basic materials company’s stock worth $95,658,000 after acquiring an additional 2,011,862 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of Pan American Silver by 24.0% in 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 during the last quarter. Institutional investors and hedge funds own 55.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on PAAS. Scotiabank boosted their target price on shares of Pan American Silver from $47.00 to $64.00 and gave the company an “outperform” rating in a report on Monday, January 26th. Jefferies Financial Group dropped their target price on shares of Pan American Silver from $58.00 to $54.00 and set a “hold” rating on the stock in a report on Wednesday, January 21st. Zacks Research lowered shares of Pan American Silver from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 22nd. Canadian Imperial Bank of Commerce set a $88.00 price objective on shares of Pan American Silver and gave the company an “outperform” rating in a report on Wednesday, February 4th. Finally, Wall Street Zen upgraded shares of Pan American Silver from a “buy” rating to a “strong-buy” rating in a report on Saturday. Six analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Pan American Silver currently has a consensus rating of “Moderate Buy” and a consensus price target of $59.67.

Pan American Silver Company Profile

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.