CIBC Boosts Pan American Silver (NYSE:PAAS) Price Target to $35.00

Pan American Silver (NYSE:PAAS) (TSE:PAAS) had its price objective boosted by CIBC from $30.00 to $35.00 in a research note published on Wednesday morning, Benzinga reports. They currently have an outperformer rating on the basic materials company’s stock.

Several other equities analysts have also commented on the stock. BMO Capital Markets upped their price target on shares of Pan American Silver from $22.00 to $24.00 in a research report on Tuesday, May 21st. Jefferies Financial Group upped their price target 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. StockNews.com raised shares of Pan American Silver from a sell rating to a hold rating in a research report on Saturday, May 11th. Finally, Scotiabank upped their price target on shares of Pan American Silver from $20.00 to $23.00 and gave the stock a sector outperform rating in a research report on Thursday, May 23rd. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of Moderate Buy and an average target price of $23.92.

Pan American Silver Stock Performance

NYSE:PAAS opened at $23.72 on Wednesday. The firm has a 50 day simple moving average of $20.79 and a 200-day simple moving average of $17.13. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.11 and a quick ratio of 0.92. Pan American Silver has a 1-year low of $12.16 and a 1-year high of $24.14.

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 analysts’ consensus estimates of ($0.06) by $0.07. Pan American Silver had a negative net margin of 6.68% and a positive return on equity of 0.13%. The business had revenue of $601.40 million during the quarter, compared to analyst estimates of $592.58 million. During the same quarter in the previous year, the business posted $0.10 earnings per share. The company’s revenue was up 54.1% on a year-over-year basis. On average, equities research analysts anticipate that Pan American Silver will post 0.59 earnings per share for the current year.

Pan American Silver Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Tuesday, May 21st were given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.69%. The ex-dividend date was Monday, May 20th. Pan American Silver’s payout ratio is currently -86.96%.

Institutional Investors Weigh In On Pan American Silver

Several large investors have recently made changes to their positions in the business. CWM LLC grew its holdings in Pan American Silver by 31.6% during the 2nd quarter. CWM LLC now owns 2,124 shares of the basic materials company’s stock valued at $42,000 after purchasing an additional 510 shares in the last quarter. Cetera Investment Advisers acquired a new stake in Pan American Silver during the 1st quarter valued at $1,565,000. Virtu Financial LLC acquired a new stake in Pan American Silver during the 1st quarter valued at $479,000. Bluefin Capital Management LLC acquired a new stake in Pan American Silver during the 1st quarter valued at $302,000. Finally, Tidal Investments LLC grew its holdings in Pan American Silver by 15,618.3% during the 1st quarter. Tidal Investments LLC now owns 3,803,507 shares of the basic materials company’s stock valued at $57,340,000 after purchasing an additional 3,779,309 shares in the last quarter. Institutional investors and hedge funds 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.