Pan American Silver (NYSE:PAAS) Trading Up 7.7% After Better-Than-Expected Earnings

Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) was up 7.7% on Thursday following a stronger than expected earnings report. The company traded as high as $20.06 and last traded at $20.06. Approximately 1,580,098 shares traded hands during trading, a decline of 63% from the average daily volume of 4,270,614 shares. The stock had previously closed at $18.63.

The basic materials company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.07. Pan American Silver had a negative net margin of 5.24% and a positive return on equity of 0.44%. The company had revenue of $601.40 million for the quarter, compared to the consensus estimate of $592.58 million. During the same period last year, the firm posted $0.10 EPS. Pan American Silver’s revenue for the quarter was up 54.1% on a year-over-year basis.

Pan American Silver Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Monday, March 4th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.97%. The ex-dividend date was Friday, March 1st. Pan American Silver’s payout ratio is currently -133.33%.

Wall Street Analysts Forecast Growth

PAAS has been the topic of several analyst reports. TD Securities lowered their target price on shares of Pan American Silver from $18.50 to $17.50 and set a “buy” rating on the stock in a report on Friday, February 23rd. StockNews.com upgraded shares of Pan American Silver from a “sell” rating to a “hold” rating in a research note on Wednesday, May 1st. Jefferies Financial Group raised their price objective on shares of Pan American Silver from $14.00 to $17.00 and gave the company a “hold” rating in a research note on Monday, April 22nd. Scotiabank raised their price objective on shares of Pan American Silver from $19.50 to $20.00 and gave the company a “sector outperform” rating in a research note on Monday, April 8th. Finally, CIBC reduced their price objective on shares of Pan American Silver from $28.00 to $27.50 and set an “outperform” rating for the company in a research note on Wednesday, February 7th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Pan American Silver currently has a consensus rating of “Moderate Buy” and an average price target of $21.00.

Hedge Funds Weigh In On Pan American Silver

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Optiver Holding B.V. raised its position in Pan American Silver by 90.8% during the third quarter. Optiver Holding B.V. now owns 1,706 shares of the basic materials company’s stock worth $25,000 after acquiring an additional 812 shares during the last quarter. CVA Family Office LLC acquired a new position in shares of Pan American Silver in the fourth quarter valued at approximately $46,000. Annis Gardner Whiting Capital Advisors LLC acquired a new position in shares of Pan American Silver in the third quarter valued at approximately $46,000. Parkside Financial Bank & Trust raised its position in shares of Pan American Silver by 455.9% in the fourth quarter. Parkside Financial Bank & Trust now owns 3,658 shares of the basic materials company’s stock valued at $60,000 after buying an additional 3,000 shares during the last quarter. Finally, Stonehage Fleming Financial Services Holdings Ltd acquired a new position in shares of Pan American Silver in the fourth quarter valued at approximately $103,000. Institutional investors and hedge funds own 55.43% of the company’s stock.

Pan American Silver Trading Up 9.1 %

The business’s 50-day moving average price is $16.43 and its two-hundred day moving average price is $15.20. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.23 and a quick ratio of 1.09. The firm has a market cap of $7.38 billion, a price-to-earnings ratio of -67.13, a price-to-earnings-growth ratio of 2.49 and a beta of 1.36.

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.