Pan American Silver (PAAS) Upgraded to “Buy” by Zacks Investment Research
Zacks Investment Research upgraded shares of Pan American Silver (NASDAQ:PAAS) (TSE:PAAS) from a hold rating to a buy rating in a report published on Thursday morning. Zacks Investment Research currently has $17.00 price objective on the basic materials company’s stock.
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. “
Other equities research analysts also recently issued research reports about the company. B. Riley reaffirmed a neutral rating on shares of Pan American Silver in a report on Wednesday, November 1st. TheStreet raised Pan American Silver from a c rating to a b rating in a report on Wednesday, February 21st. Canaccord Genuity reaffirmed a buy rating and set a $19.00 price target on shares of Pan American Silver in a report on Friday, January 12th. BidaskClub raised Pan American Silver from a sell rating to a hold rating in a report on Thursday, February 15th. Finally, Raymond James Financial raised Pan American Silver from a market perform rating to an outperform rating in a report on Tuesday, November 21st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have given a buy rating to the stock. Pan American Silver has an average rating of Buy and an average price target of $21.23.
Pan American Silver (NASDAQ:PAAS) (TSE:PAAS) last announced its quarterly earnings results on Tuesday, February 20th. The basic materials company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.06). Pan American Silver had a net margin of 15.02% and a return on equity of 5.03%. The business had revenue of $226.03 million for the quarter, compared to analyst estimates of $212.17 million. analysts expect that Pan American Silver will post 0.83 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 16th. Shareholders of record on Monday, March 5th will be given a dividend of $0.035 per share. This is a boost from Pan American Silver’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend is Friday, March 2nd. This represents a $0.14 annualized dividend and a yield of 0.92%. Pan American Silver’s dividend payout ratio (DPR) is presently 16.39%.
Hedge funds have recently bought and sold shares of the business. Cerebellum GP LLC bought a new position in Pan American Silver during the 4th quarter worth $126,000. SG Americas Securities LLC bought a new position in shares of Pan American Silver in the fourth quarter worth $131,000. Alliancebernstein L.P. bought a new position in shares of Pan American Silver in the second quarter worth $170,000. Quantbot Technologies LP bought a new position in shares of Pan American Silver in the third quarter worth $177,000. Finally, Virtu Financial LLC bought a new position in shares of Pan American Silver in the third quarter worth $178,000. Hedge funds and other institutional investors own 50.79% of the company’s stock.
Pan American Silver Company Profile
Pan American Silver Corp. is a silver production company. The Company is principally engaged in the operation and development of, and exploration for, silver producing properties. The Company’s segments include Peru, Mexico, Argentina and Bolivia. The Company also produces and sells gold, zinc, lead and copper.
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