Analysts Set Pan American Silver Corp. (NYSE:PAAS) Target Price at $68.00

Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) has earned an average rating of “Moderate Buy” from the ten brokerages that are covering the company, MarketBeat.com reports. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $68.00.

Several equities analysts have recently issued reports on PAAS shares. Canadian Imperial Bank of Commerce set a $88.00 price target on Pan American Silver and gave the company an “outperform” rating in a research note on Wednesday, February 4th. Scotiabank upped their price target on Pan American Silver from $47.00 to $64.00 and gave the company an “outperform” rating in a research note on Monday, January 26th. Jefferies Financial Group cut their price target on Pan American Silver from $58.00 to $54.00 and set a “hold” rating on the stock in a research note on Wednesday, January 21st. Wall Street Zen raised Pan American Silver from a “buy” rating to a “strong-buy” rating in a research note on Monday. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Pan American Silver in a research note on Tuesday, May 12th.

Pan American Silver Trading Down 2.1%

Shares of PAAS opened at $55.19 on Friday. The company has a quick ratio of 2.11, a current ratio of 2.84 and a debt-to-equity ratio of 0.11. Pan American Silver has a 12-month low of $22.69 and a 12-month high of $69.99. The firm has a market capitalization of $23.25 billion, a PE ratio of 17.75, a price-to-earnings-growth ratio of 0.45 and a beta of 0.65. The stock’s fifty day simple moving average is $55.89 and its 200-day simple moving average is $52.86.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last issued its quarterly earnings results on Tuesday, May 5th. The basic materials company reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.03. Pan American Silver had a return on equity of 19.50% and a net margin of 31.66%.The business had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.25 billion. During the same quarter in the prior year, the firm posted $0.42 earnings per share. The firm’s revenue for the quarter was up 49.3% compared to the same quarter last year. As a group, research analysts predict that Pan American Silver will post 4.57 earnings per share for the current year.

Pan American Silver Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Tuesday, May 19th will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Tuesday, May 19th. Pan American Silver’s dividend payout ratio is 23.15%.

Hedge Funds Weigh In On Pan American Silver

Hedge funds have recently added to or reduced their stakes in the stock. Fifth Third Bancorp lifted its stake in Pan American Silver by 1,336.1% in the first quarter. Fifth Third Bancorp now owns 517 shares of the basic materials company’s stock valued at $28,000 after buying an additional 481 shares during the period. Parallel Advisors LLC lifted its stake in Pan American Silver by 151.8% in the third quarter. Parallel Advisors LLC now owns 642 shares of the basic materials company’s stock valued at $25,000 after buying an additional 387 shares during the period. Caitong International Asset Management Co. Ltd acquired a new position in Pan American Silver in the fourth quarter valued at about $34,000. Laurel Wealth Advisors LLC acquired a new position in Pan American Silver during the fourth quarter valued at approximately $41,000. Finally, Harbor Investment Advisory LLC acquired a new position in Pan American Silver during the first quarter valued at approximately $44,000. Institutional investors and hedge funds own 55.43% of the company’s stock.

Pan American Silver Company Profile

Pan American Silver Corp. (NYSE: PAAS) is a Vancouver-based mining company and one of the world’s largest primary silver producers. The company’s core activities encompass the exploration, development, extraction and processing of silver, with significant by-product production of gold, zinc and lead. Pan American Silver maintains a vertically integrated operating model, covering the full mining value chain from resource discovery through to refined metal production.

With a geographic footprint concentrated across the Americas, Pan American Silver operates multiple mines in Mexico, Peru, Argentina and Bolivia, and is advancing several development and exploration projects in Chile and Ecuador.