Pan American Silver (PAAS) Lowered to “Hold” at Zacks Investment Research
Zacks Investment Research downgraded shares of Pan American Silver (NASDAQ:PAAS) (TSE:PAAS) from a buy rating to a hold rating in a report published on Thursday.
According to Zacks, “PAN AMER SILVER is a mining company focused exclusively on silver. Pan American Silver Corp. is founded upon a single mission, to become the best vehicle for equity investors wanting to gain real exposure to higher silver prices. To accomplish this they are striving to increase their low-cost silver production, to have the most successful silver exploration programs, to hold the largest silver reserves and resources, and to be the purest of the world’s large silver producers. “
Several other equities research analysts have also issued reports on the company. ValuEngine lowered Pan American Silver from a hold rating to a sell rating in a report on Wednesday, August 15th. TD Securities set a $23.00 price target on Pan American Silver and gave the company a buy rating in a report on Thursday, August 9th. BidaskClub lowered Pan American Silver from a sell rating to a strong sell rating in a report on Tuesday, July 31st. Scotiabank lowered Pan American Silver from an outperform rating to a sector perform rating and set a $18.00 price target for the company. in a report on Monday, July 16th. Finally, Canaccord Genuity reiterated a buy rating and set a $20.00 price target on shares of Pan American Silver in a report on Friday, July 13th. Two analysts have rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the stock. The stock has an average rating of Buy and a consensus price target of $20.44.
Pan American Silver (NASDAQ:PAAS) (TSE:PAAS) last announced its quarterly earnings results on Wednesday, August 8th. The basic materials company reported $0.23 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.16 by $0.07. The business had revenue of $216.46 million during the quarter, compared to analyst estimates of $213.63 million. Pan American Silver had a return on equity of 7.06% and a net margin of 17.95%. sell-side analysts anticipate that Pan American Silver will post 0.65 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 31st. Investors of record on Monday, August 20th were paid a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date was Friday, August 17th. Pan American Silver’s payout ratio is 27.45%.
Several hedge funds have recently modified their holdings of PAAS. Van ECK Associates Corp raised its stake in shares of Pan American Silver by 6.7% in the 2nd quarter. Van ECK Associates Corp now owns 19,339,618 shares of the basic materials company’s stock valued at $346,179,000 after acquiring an additional 1,221,920 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of Pan American Silver by 11.6% in the 2nd quarter. Renaissance Technologies LLC now owns 4,882,905 shares of the basic materials company’s stock valued at $87,404,000 after acquiring an additional 508,305 shares in the last quarter. Alps Advisors Inc. raised its stake in shares of Pan American Silver by 408.2% in the 2nd quarter. Alps Advisors Inc. now owns 544,015 shares of the basic materials company’s stock valued at $8,465,000 after acquiring an additional 436,958 shares in the last quarter. Wells Fargo & Company MN raised its stake in shares of Pan American Silver by 90.3% in the 1st quarter. Wells Fargo & Company MN now owns 853,097 shares of the basic materials company’s stock valued at $13,778,000 after acquiring an additional 404,749 shares in the last quarter. Finally, FMR LLC raised its stake in shares of Pan American Silver by 5.9% in the 2nd quarter. FMR LLC now owns 3,456,637 shares of the basic materials company’s stock valued at $61,874,000 after acquiring an additional 193,900 shares in the last quarter. 48.19% of the stock is currently owned by institutional investors and hedge funds.
About Pan American Silver
Pan American Silver Corp., together with its subsidiaries, engages in exploration, extraction, processing, refining, and reclamation of silver mines. The company owns and operates silver mines located in Peru, Mexico, Argentina, and Bolivia. It also produces and sells gold, zinc, lead, and copper. The company holds interests in the La Colorada, Dolores, Alamo Dorado, Huaron, Morococha, Manantial Espejo, and San Vicente mines.
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