Edison Inv. Res Weighs in on Pan American Silver Corp.’s FY2024 Earnings (NYSE:PAAS)

Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) – Equities researchers at Edison Inv. Res decreased their FY2024 earnings per share estimates for shares of Pan American Silver in a report released on Wednesday, August 14th. Edison Inv. Res analyst A. Litvin now expects that the basic materials company will earn $0.22 per share for the year, down from their previous forecast of $0.58. The consensus estimate for Pan American Silver’s current full-year earnings is $0.68 per share.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last announced its earnings results on Wednesday, August 7th. The basic materials company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.04). The business had revenue of $686.30 million for the quarter, compared to analyst estimates of $696.08 million. Pan American Silver had a positive return on equity of 0.66% and a negative net margin of 5.54%. The company’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.04 earnings per share.

Several other brokerages also recently weighed in on PAAS. BMO Capital Markets upped their target price on Pan American Silver from $22.00 to $24.00 in a research note on Tuesday, May 21st. Scotiabank boosted their price target on Pan American Silver from $23.00 to $26.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, July 16th. StockNews.com upgraded Pan American Silver from a “sell” rating to a “hold” rating in a research report on Saturday, May 11th. Jefferies Financial Group boosted their price target on Pan American Silver from $19.00 to $22.00 and gave the stock a “hold” rating in a research report on Friday, July 12th. Finally, CIBC boosted their price target on Pan American Silver from $30.00 to $35.00 and gave the stock an “outperformer” rating in a research report on Wednesday, July 10th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $24.42.

Pan American Silver Trading Up 1.1 %

Shares of PAAS stock opened at $20.33 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.06 and a quick ratio of 0.92. The company has a market cap of $7.38 billion, a price-to-earnings ratio of -43.76 and a beta of 1.31. The stock has a 50 day simple moving average of $21.02 and a 200-day simple moving average of $18.19. Pan American Silver has a 1-year low of $12.16 and a 1-year high of $24.27.

Pan American Silver Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Monday, August 19th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.97%. The ex-dividend date of this dividend is Monday, August 19th. Pan American Silver’s payout ratio is currently -86.96%.

Hedge Funds Weigh In On Pan American Silver

A number of hedge funds have recently modified their holdings of the business. Van ECK Associates Corp grew its holdings in shares of Pan American Silver by 1.4% during the 1st quarter. Van ECK Associates Corp now owns 46,486,439 shares of the basic materials company’s stock worth $701,016,000 after purchasing an additional 653,064 shares during the period. Vanguard Group Inc. grew its holdings in shares of Pan American Silver by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 13,225,480 shares of the basic materials company’s stock worth $199,440,000 after purchasing an additional 159,908 shares during the period. Norges Bank purchased a new position in shares of Pan American Silver during the 4th quarter worth $63,066,000. Tidal Investments LLC grew its holdings in shares of 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 worth $57,340,000 after purchasing an additional 3,779,309 shares during the period. Finally, Mackenzie Financial Corp grew its holdings in shares of Pan American Silver by 51.1% during the 2nd quarter. Mackenzie Financial Corp now owns 3,124,517 shares of the basic materials company’s stock worth $62,107,000 after purchasing an additional 1,056,981 shares during the period. 55.43% of the stock is currently owned by hedge funds and other institutional investors.

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.