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

Key Points

• Pan American Silver Corp. hit a new 52-week high, trading at $35.75, indicating strong performance with a recent increase in share value.
• Analysts show mixed ratings, with one upgrade to "strong-buy" but also several downgrades, resulting in a consensus rating of "Moderate Buy" with a target price of $32.20.
• The company recently increased its quarterly dividend from $0.10 to $0.12, reflecting a positive outlook for investors with an annualized dividend yield of 1.3%.

Pan American Silver Corp. (NYSE:PAAS - Get Free Report) TSE: PAAS hit a new 52-week high on Monday . The company traded as high as $35.62 and last traded at $35.75, with a volume of 493177 shares. The stock had previously closed at $34.60.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on PAAS shares. Scotiabank lowered their target price on Pan American Silver from $36.50 to $36.00 and set an "outperform" rating on the stock in a research note on Friday. National Bank Financial upgraded Pan American Silver to a "strong-buy" rating in a research note on Thursday. Zacks Research lowered Pan American Silver from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 19th. TD Securities lowered their target price on Pan American Silver from $30.00 to $26.00 and set a "hold" rating on the stock in a research note on Thursday, May 22nd. Finally, Wall Street Zen lowered Pan American Silver from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 16th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Pan American Silver has an average rating of "Moderate Buy" and a consensus target price of $32.20.

Pan American Silver Trading Up 3.3%

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 firm has a market capitalization of $12.94 billion, a P/E ratio of 24.59, a P/E/G ratio of 0.43 and a beta of 0.64. The firm has a 50-day moving average of $30.48 and a two-hundred day moving average of $27.31.

Pan American Silver (NYSE:PAAS - Get Free Report) TSE: PAAS last announced its quarterly earnings data on Wednesday, August 6th. The basic materials company reported $0.43 earnings per share for the quarter, topping 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 business had revenue of $811.90 million during the quarter, compared to the consensus estimate of $782.12 million. During the same period in the prior year, the company earned $0.11 EPS. Pan American Silver's revenue for the quarter was up 18.3% on a year-over-year basis. On average, analysts anticipate that Pan American Silver Corp. will post 1.26 EPS for the current year.

Pan American Silver Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Monday, August 18th were paid a $0.12 dividend. The ex-dividend date of this dividend was Monday, August 18th. This is a positive change from Pan American Silver's previous quarterly dividend of $0.10. This represents a $0.48 annualized dividend and a dividend yield of 1.3%. Pan American Silver's payout ratio is currently 33.10%.

Institutional Investors Weigh In On Pan American Silver

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Concurrent Investment Advisors LLC acquired a new stake in Pan American Silver during the first quarter worth approximately $222,000. D.A. Davidson & CO. acquired a new stake in Pan American Silver during the first quarter worth approximately $358,000. Southland Equity Partners LLC acquired a new stake in Pan American Silver during the first quarter worth approximately $300,000. Northern Trust Corp grew its stake in Pan American Silver by 210.1% during the fourth quarter. Northern Trust Corp now owns 83,871 shares of the basic materials company's stock worth $1,696,000 after purchasing an additional 56,826 shares during the period. Finally, Wellington Management Group LLP grew its stake in Pan American Silver by 191.0% during the fourth quarter. Wellington Management Group LLP now owns 167,847 shares of the basic materials company's stock worth $3,394,000 after purchasing an additional 110,170 shares during the period. Institutional investors and hedge funds own 55.43% of the company's stock.

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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