Pan American Silver (NYSE:PAAS) Reaches New 12-Month High - Here's Why

Key Points

• Pan American Silver Corp. reached a new 52-week high of $33.21, reflecting a positive trend in its stock performance with significant trading volume of 3.46 million shares.
• Multiple analysts have downgraded the company's stock rating, with the current consensus rating being "Hold" and a price target averaging $31.40.
• The company announced an increased quarterly dividend of $0.12, raising its annual yield to 1.5%, and reflecting a payout ratio of 33.10%.

Pan American Silver Corp. (NYSE:PAAS - Get Free Report) TSE: PAAS's share price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $33.21 and last traded at $33.08, with a volume of 3463645 shares. The stock had previously closed at $32.51.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on PAAS. Zacks Research lowered shares of Pan American Silver from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 19th. CIBC reaffirmed an "outperform" rating on shares of Pan American Silver in a report on Tuesday, July 15th. TD Securities cut their price objective on shares of Pan American Silver from $30.00 to $26.00 and set a "hold" rating for the company in a report on Thursday, May 22nd. Finally, Wall Street Zen lowered shares of Pan American Silver from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 16th. Three analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Pan American Silver currently has an average rating of "Hold" and a consensus price target of $31.40.

Pan American Silver Stock Up 3.2%

The company has a current ratio of 3.05, a quick ratio of 2.11 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $12.30 billion, a P/E ratio of 23.44, a P/E/G ratio of 0.46 and a beta of 0.60. The business has a 50-day moving average price of $29.92 and a 200 day moving average price of $26.97.

Pan American Silver (NYSE:PAAS - Get Free Report) TSE: PAAS last posted its earnings results on Wednesday, August 6th. The basic materials company reported $0.43 EPS for the quarter, beating analysts' consensus estimates of $0.40 by $0.03. The firm had revenue of $811.90 million during the quarter, compared to the consensus estimate of $782.12 million. Pan American Silver had a return on equity of 11.49% and a net margin of 16.80%.The company's quarterly revenue was up 18.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.11 EPS. On average, equities analysts expect that Pan American Silver Corp. will post 1.26 EPS for the current fiscal year.

Pan American Silver Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Monday, August 18th were given a dividend of $0.12 per share. The ex-dividend date was Monday, August 18th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.4%. This is an increase from Pan American Silver's previous quarterly dividend of $0.10. Pan American Silver's dividend payout ratio is currently 33.10%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Signaturefd LLC boosted its position in shares of Pan American Silver by 5.5% during the 2nd quarter. Signaturefd LLC now owns 9,042 shares of the basic materials company's stock valued at $257,000 after acquiring an additional 475 shares during the last quarter. CWM LLC boosted its position in shares of Pan American Silver by 32.1% during the 2nd quarter. CWM LLC now owns 2,264 shares of the basic materials company's stock valued at $64,000 after acquiring an additional 550 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in Pan American Silver by 53.6% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,703 shares of the basic materials company's stock worth $48,000 after buying an additional 594 shares during the last quarter. Kiker Wealth Management LLC lifted its position in Pan American Silver by 42.4% in the second quarter. Kiker Wealth Management LLC now owns 2,014 shares of the basic materials company's stock worth $57,000 after buying an additional 600 shares during the last quarter. Finally, NewEdge Advisors LLC lifted its position in Pan American Silver by 25.8% in the second quarter. NewEdge Advisors LLC now owns 3,050 shares of the basic materials company's stock worth $87,000 after buying an additional 625 shares during the last quarter. 55.43% of the stock is currently 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.