FY2024 Earnings Forecast for Pan American Silver Corp. Issued By Edison Inv. Res (NYSE:PAAS)

Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) – Research analysts at Edison Inv. Res boosted their FY2024 earnings estimates for shares of Pan American Silver in a note issued to investors on Wednesday, September 18th. Edison Inv. Res analyst A. Litvin now anticipates that the basic materials company will post earnings of $0.41 per share for the year, up from their previous estimate of $0.22. The consensus estimate for Pan American Silver’s current full-year earnings is $0.59 per share.

PAAS has been the topic of several other reports. Scotiabank lifted their price target on shares of Pan American Silver from $23.00 to $26.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, July 16th. Jefferies Financial Group cut their price target on shares of Pan American Silver from $22.00 to $21.00 and set a “hold” rating on the stock in a research note on Friday, September 13th. CIBC lifted their price target on shares of Pan American Silver from $30.00 to $35.00 and gave the stock an “outperformer” rating in a research note on Wednesday, July 10th. Finally, Royal Bank of Canada lifted their price target on shares of Pan American Silver from $25.00 to $27.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 10th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Pan American Silver presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.64.

Pan American Silver Price Performance

Pan American Silver stock opened at $22.21 on Monday. The stock has a market cap of $8.06 billion, a P/E ratio of -48.28 and a beta of 1.35. The company has a fifty day simple moving average of $20.80 and a 200-day simple moving average of $19.71. Pan American Silver has a 12-month low of $12.16 and a 12-month high of $24.27. The company has a current ratio of 2.06, a quick ratio of 0.92 and a debt-to-equity ratio of 0.16.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last released 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). The firm had revenue of $686.30 million for the quarter, compared to analysts’ expectations of $696.08 million. Pan American Silver had a positive return on equity of 0.66% and a negative net margin of 5.54%. Pan American Silver’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same period last year, the firm posted $0.04 earnings per share.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of PAAS. Norges Bank acquired a new position in Pan American Silver in the fourth quarter valued at $63,066,000. Tidal Investments LLC increased its stake in Pan American Silver by 15,618.3% in the first 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 during the period. Driehaus Capital Management LLC acquired a new position in Pan American Silver in the second quarter valued at $38,116,000. Bank of New York Mellon Corp increased its stake in Pan American Silver by 366.9% in the second quarter. Bank of New York Mellon Corp now owns 1,601,137 shares of the basic materials company’s stock valued at $31,831,000 after purchasing an additional 1,258,205 shares during the period. Finally, Mackenzie Financial Corp boosted its holdings in shares of Pan American Silver by 51.1% in the second quarter. Mackenzie Financial Corp now owns 3,124,517 shares of the basic materials company’s stock valued at $62,107,000 after acquiring an additional 1,056,981 shares in the last quarter. 55.43% of the stock is currently owned by institutional investors and hedge funds.

Pan American Silver Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Monday, August 19th were paid a $0.10 dividend. The ex-dividend date was Monday, August 19th. This represents a $0.40 dividend on an annualized basis and a yield of 1.80%. Pan American Silver’s dividend payout ratio is presently -86.96%.

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.