Pan American Silver (NYSE:PAAS) Sets New 12-Month High – Here’s Why

Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $42.60 and last traded at $42.5690, with a volume of 7402604 shares trading hands. The stock had previously closed at $39.49.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on PAAS shares. Wall Street Zen downgraded Pan American Silver from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 15th. Zacks Research downgraded Pan American Silver from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 19th. CIBC lifted their target price on Pan American Silver from $50.00 to $62.00 and gave the stock an “outperformer” rating in a research report on Friday, October 10th. Weiss Ratings reissued a “buy (b)” rating on shares of Pan American Silver in a research note on Monday. Finally, Scotiabank upped their price target on shares of Pan American Silver from $36.00 to $47.00 and gave the stock an “outperform” rating in a report on Thursday, October 23rd. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, Pan American Silver has an average rating of “Moderate Buy” and an average target price of $41.25.

Pan American Silver Stock Performance

The company has a quick ratio of 2.11, a current ratio of 3.05 and a debt-to-equity ratio of 0.15. The firm has a 50 day moving average price of $37.47 and a 200 day moving average price of $32.22. The stock has a market cap of $17.97 billion, a PE ratio of 29.36, a price-to-earnings-growth ratio of 0.44 and a beta of 0.63.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last issued its earnings results on Wednesday, November 12th. The basic materials company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.01). The business had revenue of $854.60 million for the quarter, compared to the consensus estimate of $867.76 million. Pan American Silver had a return on equity of 11.49% and a net margin of 16.80%.The firm’s revenue was up 19.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.32 earnings per share. As a group, research analysts forecast that Pan American Silver Corp. will post 1.26 earnings per share for the current year.

Pan American Silver Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 5th. Investors of record on Monday, November 24th will be issued a dividend of $0.14 per share. The ex-dividend date of this dividend is Monday, November 24th. This is a positive change from Pan American Silver’s previous quarterly dividend of $0.12. This represents a $0.56 annualized dividend and a yield of 1.3%. Pan American Silver’s dividend payout ratio is 32.37%.

Institutional Trading of Pan American Silver

A number of hedge funds have recently bought and sold shares of the stock. Harvest Portfolios Group Inc. raised its holdings in Pan American Silver by 0.9% in the 3rd quarter. Harvest Portfolios Group Inc. now owns 36,240 shares of the basic materials company’s stock valued at $1,404,000 after acquiring an additional 318 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its position in shares of Pan American Silver by 18.1% in the third quarter. MassMutual Private Wealth & Trust FSB now owns 2,373 shares of the basic materials company’s stock valued at $92,000 after purchasing an additional 364 shares in the last quarter. Parallel Advisors LLC increased its holdings in shares of Pan American Silver by 151.8% in the third quarter. Parallel Advisors LLC now owns 642 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 387 shares during the last quarter. City State Bank increased its holdings in shares of Pan American Silver by 74.4% in the third 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 last quarter. Finally, Truist Financial Corp lifted its position in Pan American Silver by 0.9% during the third quarter. Truist Financial Corp now owns 50,796 shares of the basic materials company’s stock worth $1,967,000 after buying an additional 436 shares in the last quarter. Hedge funds and other institutional investors own 55.43% of the company’s stock.

Pan American Silver Company Profile

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.