Pan American Silver (NYSE:PAAS) Sets New 12-Month High - Here's Why

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 during mid-day trading 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

PAAS has been the topic of a number of recent analyst reports. CIBC reissued an "outperform" rating on shares of Pan American Silver in a report on Tuesday, July 15th. Scotiabank lowered their price target on shares of Pan American Silver from $36.50 to $36.00 and set an "outperform" rating on the stock in a report on Friday, September 5th. Zacks Research downgraded shares of Pan American Silver from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 19th. National Bank Financial raised shares of Pan American Silver to a "strong-buy" rating in a report on Thursday, September 4th. Finally, National Bankshares restated an "outperform" rating on shares of Pan American Silver in a research report on Friday, September 5th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $32.20.

Pan American Silver Price Performance

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's 50-day simple moving average is $31.22 and its two-hundred day simple moving average is $27.68. The company has a market capitalization of $15.50 billion, a price-to-earnings ratio of 25.32, a PEG ratio of 0.46 and a beta of 0.65.

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 earnings per share for the quarter, topping analysts' consensus estimates of $0.40 by $0.03. The company had revenue of $811.90 million during the quarter, compared to analysts' expectations 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 revenue for the quarter was up 18.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.11 earnings per share. Equities research analysts predict that Pan American Silver Corp. will post 1.26 earnings per share for the current year.

Pan American Silver Increases Dividend

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

Institutional Investors Weigh In On Pan American Silver

Hedge funds have recently modified their holdings of the business. Graybill Wealth Management LTD. acquired a new stake in shares of Pan American Silver in the first quarter valued at about $33,000. Northwestern Mutual Wealth Management Co. increased its position in Pan American Silver by 53.6% during the second 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 stake in Pan American Silver during the second quarter worth about $51,000. Kiker Wealth Management LLC increased its position in Pan American Silver by 42.4% during the second quarter. Kiker Wealth Management LLC now owns 2,014 shares of the basic materials company's stock worth $57,000 after purchasing an additional 600 shares during the last quarter. Finally, CWM LLC increased its position in Pan American Silver by 32.1% during the second quarter. CWM LLC now owns 2,264 shares of the basic materials company's stock worth $64,000 after purchasing an additional 550 shares during the last quarter. 55.43% of the stock is currently owned by institutional investors and hedge funds.

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.