Pan American Silver (NYSE:PAAS) Price Target Raised to $23.00 at Scotiabank

Pan American Silver (NYSE:PAAS - Free Report) TSE: PAAS had its price target increased by Scotiabank from $20.00 to $23.00 in a research report released on Thursday, Benzinga reports. They currently have a sector outperform rating on the basic materials company's stock.

PAAS has been the topic of a number of other reports. StockNews.com upgraded shares of Pan American Silver from a sell rating to a hold rating in a research report on Saturday, May 11th. BMO Capital Markets increased their price target on shares of Pan American Silver from $22.00 to $24.00 in a report on Tuesday. Jefferies Financial Group lifted their price objective on Pan American Silver from $14.00 to $17.00 and gave the company a hold rating in a report on Monday, April 22nd. TD Securities dropped their target price on Pan American Silver from $18.50 to $17.50 and set a buy rating on the stock in a research report on Friday, February 23rd. Finally, CIBC raised their price target on Pan American Silver from $27.50 to $30.00 and gave the company an outperform rating in a report on Wednesday. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Pan American Silver has an average rating of Moderate Buy and an average target price of $22.25.

Pan American Silver Stock Performance

PAAS stock traded down $0.50 on Thursday, hitting $20.83. The company's stock had a trading volume of 5,739,895 shares, compared to its average volume of 4,557,350. The stock has a market cap of $7.56 billion, a price-to-earnings ratio of -45.28, a price-to-earnings-growth ratio of 2.82 and a beta of 1.36. The firm has a 50 day moving average of $18.06 and a two-hundred day moving average of $15.66. The company has a current ratio of 2.11, a quick ratio of 0.92 and a debt-to-equity ratio of 0.16. Pan American Silver has a 1 year low of $12.16 and a 1 year high of $22.68.

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, topping the consensus estimate of ($0.06) by $0.07. The business had revenue of $601.40 million during the quarter, compared to the consensus estimate of $592.58 million. Pan American Silver had a negative net margin of 6.68% and a positive return on equity of 0.13%. The business's quarterly revenue was up 54.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.10 earnings per share. Equities analysts predict that Pan American Silver will post 0.41 EPS for the current fiscal year.

Pan American Silver Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Tuesday, May 21st will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.92%. The ex-dividend date of this dividend is Monday, May 20th. Pan American Silver's dividend payout ratio (DPR) is -86.96%.

Institutional Trading of Pan American Silver

Large investors have recently bought and sold shares of the company. Van ECK Associates Corp increased its holdings in Pan American Silver by 11.8% during the 4th quarter. Van ECK Associates Corp now owns 45,833,375 shares of the basic materials company's stock valued at $748,460,000 after acquiring an additional 4,842,547 shares in the last quarter. Norges Bank acquired a new position in shares of Pan American Silver during the 4th quarter worth approximately $63,066,000. Tidal Investments LLC lifted its stake in Pan American Silver by 15,618.3% in the 1st quarter. Tidal Investments LLC now owns 3,803,507 shares of the basic materials company's stock valued at $57,340,000 after buying an additional 3,779,309 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in Pan American Silver by 71.3% during the 4th quarter. The Manufacturers Life Insurance Company now owns 1,889,808 shares of the basic materials company's stock valued at $30,899,000 after buying an additional 786,525 shares during the last quarter. Finally, American Century Companies Inc. increased its position in Pan American Silver by 104.5% during the third quarter. American Century Companies Inc. now owns 1,207,185 shares of the basic materials company's stock worth $17,479,000 after buying an additional 616,804 shares in the last quarter. Institutional investors and hedge funds own 55.43% of the company's stock.

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.