CIBC Boosts Pan American Silver (NYSE:PAAS) Price Target to $30.00

Pan American Silver (NYSE:PAAS) (TSE:PAAS) had its price target hoisted by CIBC from $27.50 to $30.00 in a report released on Wednesday, Marketbeat reports. CIBC currently has an outperform rating on the basic materials company’s stock.

Several other analysts have also recently weighed in on the stock. BMO Capital Markets raised their price objective on shares of Pan American Silver from $22.00 to $24.00 in a research report on Tuesday. Jefferies Financial Group lifted their target price on shares of Pan American Silver from $14.00 to $17.00 and gave the stock a hold rating in a research report on Monday, April 22nd. TD Securities decreased 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 research report on Friday, February 23rd. StockNews.com upgraded shares of Pan American Silver from a sell rating to a hold rating in a research report on Saturday, May 11th. Finally, Scotiabank lifted their target price on shares of Pan American Silver from $19.50 to $20.00 and gave the stock a sector outperform rating in a research report on Monday, April 8th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price of $22.25.

Pan American Silver Stock Performance

NYSE PAAS opened at $21.03 on Wednesday. The company’s 50 day simple moving average is $18.20 and its two-hundred day simple moving average is $15.71. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.11 and a quick ratio of 0.92. The stock has a market capitalization of $7.63 billion, a PE ratio of -45.72, a P/E/G ratio of 2.64 and a beta of 1.36. Pan American Silver has a 1 year low of $12.16 and a 1 year high of $22.68.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last posted its quarterly earnings data on Wednesday, May 8th. The basic materials company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.07. The firm had revenue of $601.40 million for the quarter, compared to analysts’ expectations of $592.58 million. Pan American Silver had a negative net margin of 6.68% and a positive return on equity of 0.13%. The business’s quarterly revenue was up 54.1% on a year-over-year basis. During the same quarter last year, the company posted $0.10 EPS. Analysts predict that Pan American Silver will post 0.41 earnings per share for the current fiscal year.

Pan American Silver Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Tuesday, May 21st will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date is Monday, May 20th. Pan American Silver’s payout ratio is -86.96%.

Institutional Investors Weigh In On Pan American Silver

A number of large investors have recently modified their holdings of the stock. Optiver Holding B.V. boosted its stake 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 in the last quarter. Perritt Capital Management Inc. boosted its stake in Pan American Silver by 76.9% during the first quarter. Perritt Capital Management Inc. now owns 2,300 shares of the basic materials company’s stock worth $35,000 after acquiring an additional 1,000 shares in the last quarter. CVA Family Office LLC bought a new stake in Pan American Silver during the fourth quarter worth about $46,000. Annis Gardner Whiting Capital Advisors LLC bought a new stake in Pan American Silver during the third quarter worth about $46,000. Finally, Parkside Financial Bank & Trust raised its holdings in 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 worth $60,000 after buying an additional 3,000 shares during the last quarter. Institutional investors own 55.43% of the company’s stock.

About Pan American Silver

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.