Pan American Silver (NYSE:PAAS) Hits New 12-Month High Following Analyst Upgrade

Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) hit a new 52-week high during mid-day trading on Tuesday after Bank of America raised their price target on the stock from $46.00 to $51.00. Bank of America currently has a buy rating on the stock. Pan American Silver traded as high as $46.60 and last traded at $46.09, with a volume of 9820142 shares changing hands. The stock had previously closed at $45.67.

Several other research firms have also recently commented on PAAS. CIBC raised their price target on shares of Pan American Silver from $50.00 to $62.00 and gave the stock an “outperformer” rating in a report on Friday, October 10th. National Bank Financial upgraded shares of Pan American Silver to a “strong-buy” rating in a research report on Thursday, September 4th. Wall Street Zen cut shares of Pan American Silver from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 15th. National Bankshares reaffirmed an “outperform” rating on shares of Pan American Silver in a research note on Friday, September 5th. Finally, Zacks Research upgraded Pan American Silver from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 25th. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Pan American Silver has a consensus rating of “Buy” and an average target price of $43.20.

Institutional Trading of Pan American Silver

A number of institutional investors and hedge funds have recently made changes to their positions in PAAS. Parallel Advisors LLC boosted its stake in shares of Pan American Silver by 151.8% during the 3rd quarter. Parallel Advisors LLC now owns 642 shares of the basic materials company’s stock worth $25,000 after acquiring an additional 387 shares in the last quarter. Rothschild Investment LLC bought a new stake in Pan American Silver during the third quarter worth approximately $36,000. City State Bank boosted its position in Pan American Silver by 74.4% during the third quarter. City State Bank now owns 1,020 shares of the basic materials company’s stock worth $40,000 after purchasing an additional 435 shares during the period. EverSource Wealth Advisors LLC grew its holdings in Pan American Silver by 93.6% during the third quarter. EverSource Wealth Advisors LLC now owns 1,028 shares of the basic materials company’s stock valued at $40,000 after purchasing an additional 497 shares during the last quarter. Finally, Assetmark Inc. raised its position in shares of Pan American Silver by 3,111.4% in the third quarter. Assetmark Inc. now owns 1,124 shares of the basic materials company’s stock valued at $44,000 after purchasing an additional 1,089 shares during the period. Institutional investors and hedge funds own 55.43% of the company’s stock.

Pan American Silver Stock Performance

The stock’s 50-day moving average price is $38.41 and its 200 day moving average price is $33.05. The company has a quick ratio of 1.55, a current ratio of 2.31 and a debt-to-equity ratio of 0.12. The company has a market cap of $18.74 billion, a P/E ratio of 25.67, a price-to-earnings-growth ratio of 0.49 and a beta of 0.72.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last posted its earnings results on Wednesday, November 12th. The basic materials company reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.01). The firm had revenue of $854.60 million during the quarter, compared to analyst estimates of $867.76 million. Pan American Silver had a net margin of 19.52% and a return on equity of 11.66%. The business’s quarterly revenue was up 19.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.32 earnings per share. As a group, research analysts expect that Pan American Silver Corp. will post 1.26 EPS for the current fiscal year.

Pan American Silver Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 5th. Stockholders of record on Monday, November 24th will be paid a $0.14 dividend. The ex-dividend date is Monday, November 24th. This is a boost from Pan American Silver’s previous quarterly dividend of $0.12. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.3%. Pan American Silver’s dividend payout ratio is presently 32.37%.

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.