Pan American Silver (NYSE:PAAS) Sets New 52-Week High – What’s Next?

Shares of Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $25.14 and last traded at $25.14, with a volume of 118782 shares traded. The stock had previously closed at $24.41.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Royal Bank of Canada upped their price target on Pan American Silver from $25.00 to $27.00 and gave the stock an “outperform” rating in a report on Tuesday, September 10th. CIBC upped their target price on Pan American Silver from $30.00 to $35.00 and gave the stock an “outperformer” rating in a research note on Wednesday, July 10th. Scotiabank lifted their price target on shares of Pan American Silver from $23.00 to $26.00 and gave the company a “sector outperform” rating in a research note on Tuesday, July 16th. Finally, Jefferies Financial Group upped their price objective on shares of Pan American Silver from $21.00 to $23.00 and gave the stock a “hold” rating in a research report on Friday, October 4th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Pan American Silver has a consensus rating of “Moderate Buy” and a consensus price target of $24.93.

Pan American Silver Stock Performance

The firm’s 50 day simple moving average is $20.93 and its 200-day simple moving average is $20.62. The company has a market cap of $9.15 billion, a price-to-earnings ratio of -53.07 and a beta of 1.35. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.92 and a current ratio of 2.06.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last announced its quarterly earnings data on Wednesday, August 7th. The basic materials company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.04). Pan American Silver had a negative net margin of 5.54% and a positive return on equity of 0.66%. The business had revenue of $686.30 million for the quarter, compared to analysts’ expectations of $696.08 million. During the same period in the prior year, the company posted $0.04 EPS. The firm’s revenue was up 7.3% on a year-over-year basis. On average, sell-side analysts predict that Pan American Silver Corp. will post 0.64 EPS for the current year.

Pan American Silver Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Monday, August 19th were issued a dividend of $0.10 per share. The ex-dividend date was Monday, August 19th. This represents a $0.40 annualized dividend and a dividend yield of 1.59%. Pan American Silver’s dividend payout ratio is presently -86.96%.

Hedge Funds Weigh In On Pan American Silver

Several institutional investors and hedge funds have recently bought and sold shares of the company. Mark Sheptoff Financial Planning LLC increased its holdings in shares of Pan American Silver by 943.4% during the 2nd quarter. Mark Sheptoff Financial Planning LLC now owns 1,659 shares of the basic materials company’s stock worth $33,000 after buying an additional 1,500 shares during the last quarter. CWM LLC increased its stake in Pan American Silver by 31.6% during the second quarter. CWM LLC now owns 2,124 shares of the basic materials company’s stock worth $42,000 after acquiring an additional 510 shares during the last quarter. Perritt Capital Management Inc. increased 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 during the last quarter. UniSuper Management Pty Ltd lifted its stake in shares of Pan American Silver by 73.3% in the 1st quarter. UniSuper Management Pty Ltd now owns 5,200 shares of the basic materials company’s stock valued at $78,000 after purchasing an additional 2,200 shares during the last quarter. Finally, Signaturefd LLC lifted its stake in shares of Pan American Silver by 11.6% in the 2nd quarter. Signaturefd LLC now owns 7,469 shares of the basic materials company’s stock valued at $148,000 after purchasing an additional 774 shares during the last quarter. 55.43% of the stock is currently owned by institutional investors and hedge funds.

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.