Pan American Silver (NYSE:PAAS) Hits New 52-Week High - Time to Buy?

Shares of Pan American Silver Corp. (NYSE:PAAS - Get Free Report) TSE: PAAS reached a new 52-week high on Friday . The company traded as high as $30.33 and last traded at $29.93, with a volume of 1380530 shares. The stock had previously closed at $29.34.

Analysts Set New Price Targets

A number of equities research analysts have commented on PAAS shares. Scotiabank reissued a "sector perform" rating on shares of Pan American Silver in a research note on Monday, April 14th. TD Securities cut their target price on Pan American Silver from $30.00 to $26.00 and set a "hold" rating on the stock in a report on Thursday, May 22nd. National Bankshares restated an "outperform" rating on shares of Pan American Silver in a research note on Wednesday, April 2nd. BMO Capital Markets initiated coverage on shares of Pan American Silver in a report on Wednesday, April 16th. They set a "market perform" rating on the stock. Finally, Wall Street Zen raised shares of Pan American Silver from a "buy" rating to a "strong-buy" rating in a research note on Thursday, May 15th. Four 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 stock. Based on data from MarketBeat, Pan American Silver has a consensus rating of "Moderate Buy" and a consensus target price of $30.60.

Pan American Silver Price Performance

The firm has a market cap of $10.77 billion, a P/E ratio of 34.21, a P/E/G ratio of 0.53 and a beta of 0.67. The company has a fifty day moving average of $26.79 and a 200-day moving average of $25.01. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.93 and a quick ratio of 1.94.

Pan American Silver (NYSE:PAAS - Get Free Report) TSE: PAAS last posted its earnings results on Wednesday, May 7th. The basic materials company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.23. The firm had revenue of $773.20 million during the quarter, compared to analyst estimates of $696.62 million. Pan American Silver had a net margin of 10.45% and a return on equity of 9.25%. The business's revenue was up 28.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.01 EPS. On average, sell-side analysts anticipate that Pan American Silver Corp. will post 1.26 EPS for the current fiscal year.

Pan American Silver Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Tuesday, May 20th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date was Tuesday, May 20th. Pan American Silver's payout ratio is 45.98%.

Hedge Funds Weigh In On Pan American Silver

Several hedge funds have recently modified their holdings of the company. Graybill Wealth Management LTD. purchased a new stake in shares of Pan American Silver during the first quarter valued at approximately $33,000. Farther Finance Advisors LLC grew its stake in Pan American Silver by 164.3% in the 4th quarter. Farther Finance Advisors LLC now owns 1,945 shares of the basic materials company's stock valued at $39,000 after purchasing an additional 1,209 shares during the period. Jones Financial Companies Lllp increased its position in shares of Pan American Silver by 23.4% during the 4th quarter. Jones Financial Companies Lllp now owns 2,892 shares of the basic materials company's stock valued at $58,000 after purchasing an additional 549 shares during the last quarter. Whittier Trust Co. of Nevada Inc. raised its stake in shares of Pan American Silver by 507.3% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 4,500 shares of the basic materials company's stock worth $116,000 after purchasing an additional 3,759 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp purchased a new position in shares of Pan American Silver in the 4th quarter worth about $118,000. Institutional investors 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.