Pan American Silver (NYSE:PAAS) Sees Large Volume Increase - Should You Buy?

Key Points

• Trading volume surged 124% to 12.77 million shares, while PAAS traded at $37.60, slightly below its prior close of $37.72.
• Pan American Silver reported quarterly EPS of $0.69, beating estimates by $0.03; revenue rose 17.7% year over year to $1.01 billion, though it fell short of forecasts.
• Analysts’ consensus rating is Moderate Buy, with an average price target of $67.71. The company also raised its quarterly dividend slightly to $0.185 per share.

Pan American Silver Corp. (NYSE:PAAS - Get Free Report) TSE: PAAS shares saw unusually-high trading volume on Friday. 12,770,943 shares changed hands during mid-day trading, an increase of 124% from the average daily volume of 5,705,507 shares. The stock last traded at $37.6040 and had previously closed at $37.72.

Wall Street Analysts Forecast Growth

PAAS has been the topic of several research reports. TD Securities downgraded shares of Pan American Silver from a "strong-buy" rating to a "hold" rating in a research note on Monday. Zacks Research upgraded shares of Pan American Silver from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 18th. BMO Capital Markets reissued a "market perform" rating on shares of Pan American Silver in a research note on Thursday, August 13th. Royal Bank Of Canada decreased their target price on shares of Pan American Silver from $65.00 to $56.00 and set an "outperform" rating on the stock in a research note on Wednesday, September 16th. Finally, TD Cowen cut Pan American Silver from a "buy" rating to a "hold" rating in a report on Monday. Five investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, Pan American Silver currently has a consensus rating of "Moderate Buy" and an average price target of $67.71.

Pan American Silver Stock Performance

The company has a current ratio of 2.72, a quick ratio of 2.03 and a debt-to-equity ratio of 0.11. The firm has a fifty day moving average price of $44.96 and a 200 day moving average price of $50.99. The firm has a market cap of $15.46 billion, a PE ratio of 10.05, a price-to-earnings-growth ratio of 4.42 and a beta of 0.76.

Pan American Silver (NYSE:PAAS - Get Free Report) TSE: PAAS last announced its quarterly earnings data on Wednesday, November 4th. The basic materials company reported $0.69 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.66 by $0.03. Pan American Silver had a net margin of 35.18% and a return on equity of 20.94%. The firm had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the prior year, the firm posted $0.48 earnings per share. Pan American Silver's quarterly revenue was up 17.7% on a year-over-year basis. As a group, equities research analysts expect that Pan American Silver Corp. will post 3.34 earnings per share for the current fiscal year.

Pan American Silver Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 27th. Shareholders of record on Monday, November 16th will be issued a $0.1850 dividend. This represents a $0.74 annualized dividend and a yield of 2.0%. The ex-dividend date is Monday, November 16th. This is a positive change from Pan American Silver's previous quarterly dividend of $0.1840. Pan American Silver's dividend payout ratio (DPR) is presently 19.84%.

Institutional Trading of Pan American Silver

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. acquired a new position in Pan American Silver in the second quarter valued at approximately $375,948,000. The Manufacturers Life Insurance Company acquired a new stake in Pan American Silver during the second quarter worth $145,312,000. Canada Pension Plan Investment Board purchased a new stake in Pan American Silver in the second quarter valued at $138,282,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Pan American Silver in the second quarter valued at $130,636,000. Finally, Amundi raised its position in Pan American Silver by 4.9% in the second quarter. Amundi now owns 2,753,719 shares of the basic materials company's stock valued at $123,339,000 after purchasing an additional 127,712 shares during the period. Institutional investors and hedge funds own 55.43% of the company's stock.

Pan American Silver Company Profile

Pan American Silver Corp. is a mining company focused on the exploration, development and operation of silver and gold mines. Its products also include by-products such as zinc, lead and copper, which are recovered during mining and processing. Founded in 1994 and headquartered in Vancouver, British Columbia, the company operates mines and holds exploration and development interests in Canada and Latin America. Its portfolio has expanded over time through acquisitions, including its 2023 acquisition of Yamana Gold's Canadian assets and interests in several mines in Latin America.

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