Pan American Silver (NYSE:PAAS) Price Target Raised to $24.00 at BMO Capital Markets

Pan American Silver (NYSE:PAAS - Free Report) TSE: PAAS had its target price increased by BMO Capital Markets from $22.00 to $24.00 in a research report report published on Tuesday morning, BayStreet.CA reports.

A number of other equities research analysts also recently issued reports on the stock. StockNews.com raised shares of Pan American Silver from a sell rating to a hold rating in a research note on Saturday, May 11th. Jefferies Financial Group lifted their target price on Pan American Silver from $14.00 to $17.00 and gave the stock a hold rating in a research report on Monday, April 22nd. TD Securities cut their price target on shares of Pan American Silver from $18.50 to $17.50 and set a buy rating on the stock in a report on Friday, February 23rd. Scotiabank lifted their price objective on shares of Pan American Silver from $19.50 to $20.00 and gave the company a sector outperform rating in a report on Monday, April 8th. Finally, CIBC dropped 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 note on Wednesday, February 7th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of $21.33.

Pan American Silver Stock Performance

Shares of NYSE PAAS traded down $0.23 during midday trading on Tuesday, hitting $22.22. 4,981,055 shares of the stock traded hands, compared to its average volume of 4,519,279. Pan American Silver has a one year low of $12.16 and a one year high of $22.68. The firm has a market capitalization of $8.06 billion, a P/E ratio of -48.11, a PEG ratio of 2.76 and a beta of 1.37. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.92 and a current ratio of 2.11. The firm has a 50-day moving average of $17.63 and a two-hundred day moving average of $15.54.

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

Pan American Silver Dividend Announcement

The business 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 annualized dividend and a yield of 1.80%. Pan American Silver's dividend payout ratio (DPR) is presently -86.96%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in PAAS. Virtu Financial LLC acquired a new stake in Pan American Silver during the 1st quarter valued at approximately $479,000. Bluefin Capital Management LLC purchased a new stake in Pan American Silver in the first quarter valued at $302,000. Tidal Investments LLC grew its position in Pan American Silver by 15,618.3% during the 1st 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 during the period. Janus Henderson Group PLC lifted its holdings in shares of Pan American Silver by 121.6% in the 1st quarter. Janus Henderson Group PLC now owns 45,279 shares of the basic materials company's stock valued at $682,000 after buying an additional 24,847 shares during the period. Finally, Perritt Capital Management Inc. boosted its stake 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 buying an additional 1,000 shares during the last quarter. 55.43% of the stock is owned by institutional investors and hedge funds.

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.