Pan American Silver (NYSE:PAAS) Sets New 12-Month High - What's Next?

Key Points

• Pan American Silver shares reached a new 12-month high at $38.16 during trading, with a current stock price of $36.92 and a volume of over 1.16 million shares.
• Analysts have mixed ratings on Pan American Silver, with one Strong Buy rating, four Buy ratings, and a consensus price target set at $32.20.
• The company recently announced an increase in its quarterly dividend to $0.12 per share, reflecting confidence in its financial performance and a dividend yield of 1.3%.

Pan American Silver Corp. (NYSE:PAAS - Get Free Report) TSE: PAAS shares hit a new 52-week high during mid-day trading on Monday . The company traded as high as $38.16 and last traded at $36.92, with a volume of 1161380 shares. The stock had previously closed at $36.46.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on PAAS shares. National Bank Financial upgraded shares of Pan American Silver to a "strong-buy" rating in a research note on Thursday, September 4th. CIBC restated an "outperform" rating on shares of Pan American Silver in a research report on Tuesday, July 15th. National Bankshares reissued an "outperform" rating on shares of Pan American Silver in a research report on Friday, September 5th. Scotiabank dropped their target price on shares of Pan American Silver from $36.50 to $36.00 and set an "outperform" rating on the stock in a research report on Friday, September 5th. Finally, Wall Street Zen cut Pan American Silver from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 16th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $32.20.

Pan American Silver Stock Performance

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 stock has a market capitalization of $15.45 billion, a price-to-earnings ratio of 25.31, a PEG ratio of 0.59 and a beta of 0.64. The company's 50-day simple moving average is $31.91 and its 200-day simple moving average is $28.14.

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

Pan American Silver Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Monday, August 18th were issued a dividend of $0.12 per share. The ex-dividend date was Monday, August 18th. This represents a $0.48 annualized dividend and a yield of 1.3%. This is a boost from Pan American Silver's previous quarterly dividend of $0.10. Pan American Silver's dividend payout ratio (DPR) is currently 33.10%.

Institutional Investors Weigh In On Pan American Silver

Institutional investors and hedge funds have recently modified their holdings of the business. Osaic Holdings Inc. grew its position in Pan American Silver by 299.4% during the 2nd quarter. Osaic Holdings Inc. now owns 144,087 shares of the basic materials company's stock worth $4,092,000 after purchasing an additional 108,012 shares during the period. B. Riley Wealth Advisors Inc. acquired a new stake in shares of Pan American Silver in the second quarter valued at approximately $318,000. CANADA LIFE ASSURANCE Co raised its stake in Pan American Silver by 15.0% during the second quarter. CANADA LIFE ASSURANCE Co now owns 616,729 shares of the basic materials company's stock worth $17,432,000 after purchasing an additional 80,350 shares during the period. Tower Research Capital LLC TRC grew its holdings in Pan American Silver by 1,140.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 48,205 shares of the basic materials company's stock worth $1,369,000 after acquiring an additional 44,318 shares in the last quarter. Finally, Captrust Financial Advisors bought a new stake in Pan American Silver in the 2nd quarter valued at about $313,000. 55.43% of the stock is owned by institutional investors.

About Pan American Silver

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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