Pan American Silver (NYSE:PAAS) Hits New 12-Month High – Here’s Why

Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) shares reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $27.47 and last traded at $26.61, with a volume of 4717198 shares. The stock had previously closed at $26.70.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on PAAS. Scotiabank boosted their target price on Pan American Silver from $28.00 to $28.50 and gave the stock a “sector outperform” rating in a research report on Tuesday, February 25th. Royal Bank of Canada raised their price objective on Pan American Silver from $28.00 to $30.00 and gave the company an “outperform” rating in a research note on Tuesday, February 11th. StockNews.com lowered Pan American Silver from a “buy” rating to a “hold” rating in a research note on Sunday, December 1st. Finally, TD Securities cut Pan American Silver from a “buy” rating to a “hold” rating and decreased their price target for the stock from $28.00 to $27.00 in a research note on Tuesday, March 11th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Pan American Silver currently has an average rating of “Hold” and an average target price of $27.92.

Pan American Silver Stock Down 0.5 %

The company has a 50-day moving average of $23.88 and a two-hundred day moving average of $22.54. The company has a quick ratio of 0.96, a current ratio of 2.50 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $9.56 billion, a P/E ratio of 82.50 and a beta of 1.25.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last released its earnings results on Wednesday, February 19th. The basic materials company reported $0.35 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.35. Pan American Silver had a net margin of 3.98% and a return on equity of 6.14%. The firm had revenue of $815.10 million for the quarter, compared to the consensus estimate of $805.20 million. On average, research analysts predict that Pan American Silver Corp. will post 1.26 EPS for the current year.

Pan American Silver Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, March 3rd were paid a $0.10 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $0.40 annualized dividend and a dividend yield of 1.52%. Pan American Silver’s payout ratio is currently 125.00%.

Institutional Investors Weigh In On Pan American Silver

Several hedge funds have recently added to or reduced their stakes in PAAS. Norges Bank purchased a new stake in shares of Pan American Silver during the fourth quarter valued at $91,916,000. FMR LLC raised its holdings in shares of Pan American Silver by 1,834.8% in the third quarter. FMR LLC now owns 1,344,991 shares of the basic materials company’s stock worth $28,084,000 after buying an additional 1,275,475 shares during the period. Jupiter Asset Management Ltd. bought a new position in shares of Pan American Silver in the fourth quarter worth about $24,083,000. Hsbc Holdings PLC increased its position in shares of Pan American Silver by 661.2% during the fourth quarter. Hsbc Holdings PLC now owns 1,307,617 shares of the basic materials company’s stock worth $26,300,000 after acquiring an additional 1,135,839 shares during the period. Finally, Renaissance Technologies LLC raised its position in Pan American Silver by 110.0% during the 4th quarter. Renaissance Technologies LLC now owns 1,498,246 shares of the basic materials company’s stock valued at $30,295,000 after purchasing an additional 784,906 shares in the last quarter. 55.43% of the stock is owned by 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.