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

Key Points

• Pan American Silver shares reached a new 52-week high, trading at $37.59, which reflects an increase from the previous close of $36.68.
• Analysts have mixed ratings on the stock, with one rating it a "Strong Buy" and four rating it a "Buy," while the average target price is set at $32.20.
• The company recently increased its quarterly dividend from $0.10 to $0.12 per share, indicating a positive outlook for returns to shareholders.

Pan American Silver Corp. (NYSE:PAAS - Get Free Report) TSE: PAAS's share price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $37.59 and last traded at $37.53, with a volume of 1851557 shares changing hands. The stock had previously closed at $36.68.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on PAAS shares. Scotiabank dropped their target price on Pan American Silver from $36.50 to $36.00 and set an "outperform" rating for the company in a report on Friday, September 5th. Wall Street Zen downgraded Pan American Silver from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 16th. National Bank Financial raised Pan American Silver to a "strong-buy" rating in a report on Thursday, September 4th. National Bankshares reissued an "outperform" rating on shares of Pan American Silver in a report on Friday, September 5th. Finally, Zacks Research downgraded Pan American Silver from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 19th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have assigned a Hold rating to the stock. According to 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 Performance

The company has a market capitalization of $15.40 billion, a P/E ratio of 25.17, a PEG ratio of 0.57 and a beta of 0.65. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.05 and a quick ratio of 2.11. The company has a fifty day moving average price of $31.91 and a two-hundred day moving average price of $28.10.

Pan American Silver (NYSE:PAAS - Get Free Report) TSE: PAAS last posted its quarterly earnings data on Wednesday, August 6th. The basic materials company reported $0.43 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 return on equity of 11.49% and a net margin of 16.80%.The firm's quarterly revenue was up 18.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.11 earnings per share. 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 disclosed a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Monday, August 18th were paid a $0.12 dividend. This is an increase from Pan American Silver's previous quarterly dividend of $0.10. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend was Monday, August 18th. Pan American Silver's payout ratio is presently 33.10%.

Hedge Funds Weigh In On Pan American Silver

A number of hedge funds and other institutional investors have recently made changes to their positions in PAAS. Signaturefd LLC lifted its stake in Pan American Silver by 5.5% in the second quarter. Signaturefd LLC now owns 9,042 shares of the basic materials company's stock valued at $257,000 after buying an additional 475 shares during the period. CWM LLC lifted 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 during the period. Northwestern Mutual Wealth Management Co. lifted its stake 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 valued at $48,000 after buying an additional 594 shares during the period. Kiker Wealth Management LLC lifted its stake 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 period. Finally, NewEdge Advisors LLC lifted its stake 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 valued at $87,000 after buying an additional 625 shares during the period. 55.43% of the stock is 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.