Pan American Silver Corp. (NYSE:PAAS) Stock Has Average Target Price of $67.71 According to Brokerages

Key Points

• Analysts are moderately bullish: Seven of the ten firms covering Pan American Silver rate it a buy and three recommend holding; the average 12-month price target is $67.71.
• Quarterly results were mixed: Earnings of $0.69 per share topped estimates, while revenue of $1.01 billion fell short; revenue nevertheless rose 17.7% year over year.
• The company raised its quarterly dividend slightly to $0.185 per share, equivalent to $0.74 annually and a 1.8% yield.

Pan American Silver Corp. (NYSE:PAAS - Get Free Report) TSE: PAAS has been assigned a consensus rating of "Moderate Buy" from the ten ratings firms that are currently covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $67.71.

PAAS has been the topic of several recent analyst reports. Scotiabank reissued an "outperform" rating on shares of Pan American Silver in a research note on Tuesday, July 14th. Zacks Research upgraded shares of Pan American Silver from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 18th. Weiss Ratings downgraded Pan American Silver from a "buy (b)" rating to a "buy (b-)" rating in a research report on Friday, October 30th. BMO Capital Markets reissued a "market perform" rating on shares of Pan American Silver in a report on Thursday, August 13th. Finally, Wall Street Zen lowered shares of Pan American Silver from a "buy" rating to a "hold" rating in a research note on Saturday, August 15th.

Hedge Funds Weigh In On Pan American Silver

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. bought a new position in shares of Pan American Silver in the second quarter worth about $375,948,000. The Manufacturers Life Insurance Company purchased a new stake in Pan American Silver in the second quarter valued at $145,312,000. Canada Pension Plan Investment Board purchased a new position in Pan American Silver during the second quarter worth about $138,282,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Pan American Silver during the 2nd quarter worth approximately $130,636,000. Finally, Legal & General Group Plc acquired a new position in shares of Pan American Silver in the 2nd quarter valued at $106,698,000. 55.43% of the stock is owned by institutional investors.

Pan American Silver Trading Up 1.6%

PAAS opened at $41.22 on Friday. The firm's 50 day moving average is $45.90 and its 200-day moving average is $51.43. Pan American Silver has a 52-week low of $33.62 and a 52-week high of $69.99. The firm has a market capitalization of $17.06 billion, a P/E ratio of 11.05, a P/E/G ratio of 4.37 and a beta of 0.76. The company has a quick ratio of 2.23, a current ratio of 2.94 and a debt-to-equity ratio of 0.11.

Pan American Silver (NYSE:PAAS - Get Free Report) TSE: PAAS last posted its earnings results on Wednesday, November 4th. The basic materials company reported $0.69 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.66 by $0.03. Pan American Silver had a net margin of 32.04% and a return on equity of 20.01%. The firm had revenue of $1.01 billion during the quarter, compared to analysts' expectations of $1.03 billion. During the same period in the previous year, the company earned $0.48 earnings per share. The company's revenue was up 17.7% compared to the same quarter last year. Analysts expect that Pan American Silver will post 3.34 EPS for the current fiscal year.

Pan American Silver Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 27th. Investors of record on Monday, November 16th will be paid a dividend of $0.1850 per share. This represents a $0.74 dividend on an annualized basis and a dividend yield of 1.8%. This is a positive change from Pan American Silver's previous quarterly dividend of $0.1840. The ex-dividend date of this dividend is Monday, November 16th. Pan American Silver's payout ratio is presently 22.36%.

Pan American Silver Company Profile

Pan American Silver Corp. is a Canada-based precious metals mining company that explores, develops and operates mines producing silver, gold, zinc, lead and other mineral concentrates. Its activities include mine development, mineral processing, exploration and related infrastructure and support services.

Founded in 1994, Pan American Silver has built a portfolio of mining operations and projects across the Americas. The company's assets have included operations in Mexico, Peru, Bolivia, Argentina, Brazil and Chile, while certain properties in countries such as Guatemala have been placed on care and maintenance or otherwise reassessed over time.

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