Pan American Silver (NYSE:PAAS) Reaches New 12-Month High - Time to Buy?

Pan American Silver Corp. (NYSE:PAAS - Get Free Report) TSE: PAAS shares hit a new 52-week high during trading on Friday . The stock traded as high as $28.88 and last traded at $28.58, with a volume of 15620199 shares traded. The stock had previously closed at $26.59.

Analysts Set New Price Targets

Several research analysts have recently issued reports on PAAS shares. Royal Bank of Canada boosted their price objective on shares of Pan American Silver from $28.00 to $30.00 and gave the stock an "outperform" rating in a report on Tuesday, February 11th. Wall Street Zen upgraded shares of Pan American Silver from a "buy" rating to a "strong-buy" rating in a report on Thursday, May 15th. TD Securities dropped their price objective on shares of Pan American Silver from $30.00 to $26.00 and set a "hold" rating on the stock in a report on Thursday, May 22nd. CIBC boosted their price objective on shares of Pan American Silver from $38.00 to $42.00 and gave the stock an "outperformer" rating in a report on Thursday, May 8th. Finally, BMO Capital Markets started coverage on shares of Pan American Silver in a report on Wednesday, April 16th. They set a "market perform" rating on the stock. Four equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $30.60.

Pan American Silver Stock Performance

The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.96 and a current ratio of 2.50. The firm's 50-day moving average price is $24.89 and its two-hundred day moving average price is $23.76. The firm has a market capitalization of $10.37 billion, a price-to-earnings ratio of 89.50 and a beta of 0.63.

Pan American Silver (NYSE:PAAS - Get Free Report) TSE: PAAS last issued its earnings results on Wednesday, May 7th. The basic materials company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.23. Pan American Silver had a net margin of 3.98% and a return on equity of 6.14%. The business had revenue of $773.20 million for the quarter, compared to analyst estimates of $696.62 million. During the same period in the previous year, the business earned $0.01 EPS. The firm's revenue was up 28.6% on a year-over-year basis. Sell-side analysts predict that Pan American Silver Corp. will post 1.26 earnings per share for the current year.

Pan American Silver Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Tuesday, May 20th were given a dividend of $0.10 per share. The ex-dividend date was Tuesday, May 20th. This represents a $0.40 annualized dividend and a dividend yield of 1.40%. Pan American Silver's dividend payout ratio (DPR) is currently 45.98%.

Institutional Trading of Pan American Silver

Several institutional investors have recently made changes to their positions in PAAS. Norges Bank acquired a new stake in shares of Pan American Silver during the 4th quarter valued at about $91,916,000. Connor Clark & Lunn Investment Management Ltd. boosted its position in Pan American Silver by 319.1% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,451,864 shares of the basic materials company's stock valued at $115,009,000 after buying an additional 3,389,549 shares in the last quarter. Jupiter Asset Management Ltd. acquired a new position in Pan American Silver in the fourth quarter valued at about $24,083,000. Hsbc Holdings PLC boosted its position in Pan American Silver by 661.2% in the fourth quarter. Hsbc Holdings PLC now owns 1,307,617 shares of the basic materials company's stock valued at $26,300,000 after buying an additional 1,135,839 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Pan American Silver by 11.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,029,241 shares of the basic materials company's stock valued at $233,225,000 after buying an additional 959,859 shares in the last quarter. 55.43% of the stock is currently owned by institutional investors and hedge funds.

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.