Pan American Silver (NYSE:PAAS) Reaches New 52-Week High - Here's What Happened

Key Points

• Pan American Silver Corp. (NYSE:PAAS) reached a new 52-week high at $39.60 during trading, closing at $39.10 with a volume of 629,752 shares.
• The company reported earnings per share (EPS) of $0.43 for the last quarter, exceeding analysts' expectations, with revenues up 18.3% year-over-year.
• Pan American Silver recently increased its quarterly dividend to $0.12, resulting in an annualized yield of 1.2% and a payout ratio of 33.10%.

Shares of Pan American Silver Corp. (NYSE:PAAS - Get Free Report) TSE: PAAS reached a new 52-week high during trading on Monday . The stock traded as high as $39.60 and last traded at $39.10, with a volume of 629752 shares changing hands. The stock had previously closed at $38.36.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on PAAS. National Bankshares reiterated an "outperform" rating on shares of Pan American Silver in a research report on Friday, September 5th. Scotiabank cut their price objective on Pan American Silver from $36.50 to $36.00 and set an "outperform" rating for the company in a research report on Friday, September 5th. 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. Zacks Research cut shares of Pan American Silver from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 19th. Finally, CIBC reiterated an "outperform" rating on shares of Pan American Silver in a research report on Tuesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Pan American Silver currently has a consensus rating of "Moderate Buy" and a consensus target price of $32.20.

Pan American Silver Stock Up 1.6%

The company has a quick ratio of 2.11, a current ratio of 3.05 and a debt-to-equity ratio of 0.15. The stock has a market cap of $16.45 billion, a price-to-earnings ratio of 26.88, a PEG ratio of 0.62 and a beta of 0.64. The business's fifty day moving average is $32.74 and its two-hundred day moving average is $28.59.

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

Pan American Silver Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Monday, August 18th were given a $0.12 dividend. The ex-dividend date of this dividend was Monday, August 18th. This represents a $0.48 dividend on an annualized basis and a yield of 1.2%. This is an increase from Pan American Silver's previous quarterly dividend of $0.10. Pan American Silver's dividend payout ratio is 33.10%.

Institutional Trading of Pan American Silver

Large investors have recently made changes to their positions in the company. Graybill Wealth Management LTD. purchased a new position in Pan American Silver in the first quarter worth approximately $33,000. Northwestern Mutual Wealth Management Co. lifted its position in shares of 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 purchasing an additional 594 shares during the last quarter. Mark Sheptoff Financial Planning LLC acquired a new position in shares of Pan American Silver during the second quarter worth $51,000. Kiker Wealth Management LLC increased its holdings 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 valued at $57,000 after buying an additional 600 shares during the last quarter. Finally, CWM LLC raised its stake in Pan American Silver by 32.1% in the second quarter. CWM LLC now owns 2,264 shares of the basic materials company's stock valued at $64,000 after buying an additional 550 shares in the last quarter. 55.43% of the stock is currently owned by hedge funds and other 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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