Pan American Silver (NYSE:PAAS) Sees Strong Trading Volume – Here’s What Happened

Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) shares saw unusually-strong trading volume on Friday. 12,770,943 shares were traded during trading, an increase of 124% from the average daily volume of 5,705,507 shares. The stock last traded at $37.6040 and had previously closed at $37.72.

Wall Street Analyst Weigh In

Several analysts recently issued reports on PAAS shares. Royal Bank Of Canada reduced their price objective on shares of Pan American Silver from $65.00 to $56.00 and set an “outperform” rating on the stock in a report on Wednesday, September 16th. Weiss Ratings lowered shares of Pan American Silver from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, October 30th. TD Securities cut shares of Pan American Silver from a “strong-buy” rating to a “hold” rating in a research report on Monday. Wall Street Zen cut shares of Pan American Silver from a “buy” rating to a “hold” rating in a research report on Saturday, August 15th. Finally, BMO Capital Markets reissued a “market perform” rating on shares of Pan American Silver in a research note on Thursday, August 13th. Five analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $67.71.

Pan American Silver Price Performance

The company has a current ratio of 2.72, a quick ratio of 2.03 and a debt-to-equity ratio of 0.11. The stock has a market cap of $15.46 billion, a PE ratio of 10.05, a P/E/G ratio of 4.42 and a beta of 0.76. The company has a fifty day moving average of $44.96 and a 200-day moving average of $50.99.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last posted its earnings results on Wednesday, November 4th. The basic materials company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.03. Pan American Silver had a return on equity of 20.94% and a net margin of 35.18%. The firm had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the prior year, the company earned $0.48 EPS. Pan American Silver’s revenue was up 17.7% on a year-over-year basis. Sell-side analysts expect that Pan American Silver Corp. will post 3.34 EPS for the current fiscal year.

Pan American Silver Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 27th. Shareholders of record on Monday, November 16th will be paid a dividend of $0.1850 per share. This represents a $0.74 dividend on an annualized basis and a yield of 2.0%. This is a boost from Pan American Silver’s previous quarterly dividend of $0.1840. The ex-dividend date is Monday, November 16th. Pan American Silver’s payout ratio is currently 19.84%.

Institutional Trading of Pan American Silver

Several hedge funds have recently made changes to their positions in the business. BlackRock Inc. purchased a new position in shares of Pan American Silver in the second quarter valued at approximately $375,948,000. The Manufacturers Life Insurance Company purchased a new stake in Pan American Silver during the 2nd quarter worth approximately $145,312,000. Canada Pension Plan Investment Board purchased a new stake in Pan American Silver during the 2nd quarter worth approximately $138,282,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Pan American Silver during the 2nd quarter worth approximately $130,636,000. Finally, Amundi lifted its holdings in Pan American Silver by 4.9% during the 2nd quarter. Amundi now owns 2,753,719 shares of the basic materials company’s stock worth $123,339,000 after buying an additional 127,712 shares in the last quarter. Institutional investors and hedge funds own 55.43% of the company’s stock.

Pan American Silver Company Profile

Pan American Silver Corp. is a mining company focused on the exploration, development and operation of silver and gold mines. Its products also include by-products such as zinc, lead and copper, which are recovered during mining and processing. Founded in 1994 and headquartered in Vancouver, British Columbia, the company operates mines and holds exploration and development interests in Canada and Latin America. Its portfolio has expanded over time through acquisitions, including its 2023 acquisition of Yamana Gold’s Canadian assets and interests in several mines in Latin America.