Pan American Silver (NYSE:PAAS) Hits New 52-Week High - Here's Why

Key Points

• Pan American Silver Corp. shares reached a new 52-week high at $32.50 before closing at $31.90, with a trading volume of 26,453 shares.
• The company reported $0.43 EPS for the last quarter, surpassing estimates and showing an 18.3% year-over-year revenue increase to $811.90 million.
• Pan American Silver has announced an increase in its quarterly dividend from $0.10 to $0.12 per share, representing a 1.5% yield.

Shares of Pan American Silver Corp. (NYSE:PAAS - Get Free Report) TSE: PAAS reached a new 52-week high on Wednesday . The company traded as high as $32.50 and last traded at $31.90, with a volume of 26453 shares traded. The stock had previously closed at $32.01.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on PAAS shares. CIBC reaffirmed an "outperform" rating on shares of Pan American Silver in a report on Tuesday, July 15th. BMO Capital Markets started coverage on Pan American Silver in a report on Wednesday, April 16th. They issued a "market perform" rating for the company. Wall Street Zen raised Pan American Silver from a "buy" rating to a "strong-buy" rating in a report on Thursday, May 15th. Finally, TD Securities decreased their price objective on Pan American Silver from $30.00 to $26.00 and set a "hold" rating for the company in a report on Thursday, May 22nd. Four research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Pan American Silver currently has a consensus rating of "Moderate Buy" and a consensus target price of $31.40.

Pan American Silver Stock Down 2.2%

The firm has a market capitalization of $11.33 billion, a price-to-earnings ratio of 21.59, a price-to-earnings-growth ratio of 0.42 and a beta of 0.60. 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 firm has a 50 day moving average price of $29.01 and a two-hundred day moving average price of $26.22.

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

Pan American Silver Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Monday, August 18th will be issued a dividend of $0.12 per share. The ex-dividend date is Monday, August 18th. This represents a $0.48 annualized dividend and a yield of 1.5%. This is a boost from Pan American Silver's previous quarterly dividend of $0.10. Pan American Silver's dividend payout ratio (DPR) is presently 33.10%.

Institutional Investors Weigh In On Pan American Silver

A number of institutional investors have recently made changes to their positions in PAAS. Signaturefd LLC grew its stake in Pan American Silver by 5.5% during the 2nd quarter. Signaturefd LLC now owns 9,042 shares of the basic materials company's stock worth $257,000 after buying an additional 475 shares during the last quarter. CWM LLC grew its stake in Pan American Silver by 32.1% during the 2nd quarter. CWM LLC now owns 2,264 shares of the basic materials company's stock worth $64,000 after buying an additional 550 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in Pan American Silver by 53.6% during the 2nd 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 grew its stake in Pan American Silver by 42.4% during the 2nd 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, Evergreen Capital Management LLC grew its stake in Pan American Silver by 2.4% during the 4th quarter. Evergreen Capital Management LLC now owns 30,203 shares of the basic materials company's stock worth $611,000 after buying an additional 715 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.

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