Pan American Silver (TSE:PAAS) Hits New 1-Year High - Here's What Happened

Key Points

• Pan American Silver shares reached a new 52-week high, trading as high as C$56.28, with a last price of C$55.60 and a volume of 235,052 shares.
• Analysts have issued revised price targets for Pan American Silver, with National Bankshares raising its target to C$62.00 and BMO Capital Markets setting it at C$45.00, contributing to a consensus "Buy" rating.
• The company declared a quarterly dividend of $0.12 per share, reflecting an increase from the previous $0.10 and representing an annualized yield of 0.9%.

Pan American Silver Corp. (TSE:PAAS - Get Free Report) shares hit a new 52-week high on Monday . The stock traded as high as C$56.28 and last traded at C$55.60, with a volume of 235052 shares. The stock had previously closed at C$54.49.

Analysts Set New Price Targets

Several brokerages have issued reports on PAAS. National Bankshares boosted their price objective on shares of Pan American Silver from C$52.50 to C$62.00 and gave the company an "outperform" rating in a research note on Friday, September 5th. BMO Capital Markets raised their price objective on shares of Pan American Silver from C$38.00 to C$45.00 in a research report on Friday, September 5th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of C$53.50.

Pan American Silver Stock Performance

The company has a market capitalization of C$23.68 billion, a price-to-earnings ratio of 38.70, a PEG ratio of 24.57 and a beta of 1.22. The stock has a fifty day moving average price of C$46.54 and a two-hundred day moving average price of C$40.14. The company has a quick ratio of 0.88, a current ratio of 2.06 and a debt-to-equity ratio of 17.60.

Pan American Silver Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 29th were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Monday, August 18th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.9%. This is a boost from Pan American Silver's previous quarterly dividend of $0.10. Pan American Silver's dividend payout ratio is currently 27.59%.

Insider Buying and Selling at Pan American Silver

In related news, Senior Officer Matthew Robert Andrews sold 2,006 shares of the company's stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of C$41.02, for a total transaction of C$82,291.14. Also, Senior Officer Guido Mastropietro sold 1,289 shares of the firm's stock in a transaction that occurred on Thursday, July 10th. The shares were sold at an average price of C$39.62, for a total transaction of C$51,070.18. Insiders sold 10,058 shares of company stock worth $409,901 in the last 90 days. 0.07% of the stock is owned by company insiders.

About Pan American Silver

Pan American Silver Corp is a mining company focused exclusively on the exploration and development of silver mines. It produced roughly 22 million ounces of silver in 2011. The company operates primarily in Central and South America. It also sells the byproducts from its silver mining operations, including zinc, lead, copper, and gold.

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