Pan American Silver (NYSE:PAAS) Sets New 52-Week High at $21.44

Shares of Pan American Silver Corp. (NYSE:PAAS - Get Free Report) TSE: PAAS hit a new 52-week high during mid-day trading on Friday . The company traded as high as $21.44 and last traded at $21.44, with a volume of 93841 shares. The stock had previously closed at $20.60.

Wall Street Analysts Forecast Growth

PAAS has been the subject of several research reports. TD Securities reduced their target price on shares of Pan American Silver from $18.50 to $17.50 and set a "buy" rating for the company in a research note on Friday, February 23rd. StockNews.com raised shares of Pan American Silver from a "sell" rating to a "hold" rating in a report on Saturday, May 11th. CIBC decreased their target price on shares of Pan American Silver from $28.00 to $27.50 and set an "outperform" rating on the stock in a research report on Wednesday, February 7th. Jefferies Financial Group raised their price target on shares of Pan American Silver from $14.00 to $17.00 and gave the stock a "hold" rating in a research note on Monday, April 22nd. Finally, BMO Capital Markets dropped their target price on Pan American Silver from $27.00 to $22.00 and set an "outperform" rating for the company in a report on Thursday, January 18th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Pan American Silver presently has an average rating of "Moderate Buy" and a consensus target price of $21.00.

Pan American Silver Price Performance

The stock has a fifty day moving average of $17.46 and a two-hundred day moving average of $15.47. The company has a current ratio of 2.11, a quick ratio of 0.92 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $7.88 billion, a price-to-earnings ratio of -47.20, a PEG ratio of 2.64 and a beta of 1.36.

Pan American Silver (NYSE:PAAS - Get Free Report) TSE: PAAS last announced its earnings results on Wednesday, May 8th. The basic materials company reported $0.01 earnings per share for the quarter, beating analysts' consensus estimates of ($0.06) by $0.07. Pan American Silver had a positive return on equity of 0.13% and a negative net margin of 6.68%. The company had revenue of $601.40 million during the quarter, compared to analyst estimates of $592.58 million. During the same period last year, the company posted $0.10 earnings per share. The firm's quarterly revenue was up 54.1% compared to the same quarter last year. As a group, equities research analysts forecast that Pan American Silver Corp. will post 0.41 earnings per share for the current year.

Pan American Silver Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Tuesday, May 21st will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Monday, May 20th. This represents a $0.40 dividend on an annualized basis and a yield of 1.84%. Pan American Silver's payout ratio is presently -86.96%.

Hedge Funds Weigh In On Pan American Silver

A number of hedge funds and other institutional investors have recently bought and sold shares of PAAS. Tidal Investments LLC boosted its position in shares of Pan American Silver by 15,618.3% during the first quarter. Tidal Investments LLC now owns 3,803,507 shares of the basic materials company's stock worth $57,340,000 after purchasing an additional 3,779,309 shares in the last quarter. Janus Henderson Group PLC grew its stake in Pan American Silver by 121.6% in the first quarter. Janus Henderson Group PLC now owns 45,279 shares of the basic materials company's stock valued at $682,000 after acquiring an additional 24,847 shares during the period. Perritt Capital Management Inc. increased its holdings in shares of Pan American Silver by 76.9% in the first quarter. Perritt Capital Management Inc. now owns 2,300 shares of the basic materials company's stock worth $35,000 after acquiring an additional 1,000 shares in the last quarter. Quadrature Capital Ltd raised its position in shares of Pan American Silver by 21.8% during the first quarter. Quadrature Capital Ltd now owns 100,000 shares of the basic materials company's stock worth $1,503,000 after purchasing an additional 17,900 shares during the period. Finally, Gabelli Funds LLC lifted its holdings in shares of Pan American Silver by 298.3% during the 1st quarter. Gabelli Funds LLC now owns 330,600 shares of the basic materials company's stock valued at $4,985,000 after purchasing an additional 247,600 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.