Pan American Silver (NYSE:PAAS) Downgraded to Buy Rating by Wall Street Zen

Key Points

• Wall Street Zen has downgraded Pan American Silver (NYSE:PAAS) from a "strong-buy" to a "buy" rating, reflecting changes in analyst sentiment regarding the stock.
• Analysts currently have an average rating of "Moderate Buy" for Pan American Silver, with a target price of $31.40, while other firms have issued varying ratings, including a "hold" rating.
• Pan American Silver reported earnings of $0.43 EPS for the last quarter, exceeding expectations of $0.40, with revenues increasing by 18.3% year-over-year.

Wall Street Zen downgraded shares of Pan American Silver (NYSE:PAAS - Free Report) TSE: PAAS from a strong-buy rating to a buy rating in a research report released on Saturday morning.

A number of other analysts have also recently commented on PAAS. TD Securities dropped their price target on Pan American Silver from $30.00 to $26.00 and set a "hold" rating on the stock in a research report on Thursday, May 22nd. CIBC reaffirmed an "outperform" rating on shares of Pan American Silver in a research report on Tuesday, July 15th. Three analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $31.40.

Pan American Silver Stock Up 2.0%

Shares of PAAS traded up $0.6230 during mid-day trading on Friday, reaching $31.2630. The company had a trading volume of 5,175,567 shares, compared to its average volume of 4,653,758. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.11 and a current ratio of 3.05. The firm has a 50-day moving average price of $29.38 and a 200 day moving average price of $26.55. Pan American Silver has a 52 week low of $18.50 and a 52 week high of $32.50. The company has a market capitalization of $11.31 billion, a price-to-earnings ratio of 21.56, a price-to-earnings-growth ratio of 0.41 and a beta of 0.60.

Pan American Silver (NYSE:PAAS - Get Free Report) TSE: PAAS last issued its quarterly earnings results on Wednesday, August 6th. The basic materials company reported $0.43 EPS for the quarter, topping analysts' consensus estimates 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 firm had revenue of $811.90 million for the quarter, compared to analysts' expectations of $782.12 million. During the same period in the previous year, the firm posted $0.11 EPS. The business's revenue for the quarter was up 18.3% compared to the same quarter last year. On average, sell-side analysts forecast that Pan American Silver will post 1.26 EPS for the current year.

Pan American Silver Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Monday, August 18th will be given a $0.12 dividend. This is a boost from Pan American Silver's previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Monday, August 18th. This represents a $0.48 annualized dividend and a yield of 1.5%. Pan American Silver's payout ratio is currently 33.10%.

Institutional Investors Weigh In On Pan American Silver

A number of hedge funds have recently added to or reduced their stakes in PAAS. Envestnet Asset Management Inc. raised its stake in Pan American Silver by 19.1% during the 4th quarter. Envestnet Asset Management Inc. now owns 32,862 shares of the basic materials company's stock valued at $664,000 after buying an additional 5,276 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Pan American Silver during the 4th quarter valued at $6,834,000. Barclays PLC raised its stake in Pan American Silver by 3.8% during the 4th quarter. Barclays PLC now owns 63,791 shares of the basic materials company's stock valued at $1,290,000 after buying an additional 2,352 shares during the last quarter. Mariner LLC raised its stake in Pan American Silver by 6.0% during the 4th quarter. Mariner LLC now owns 24,865 shares of the basic materials company's stock valued at $503,000 after buying an additional 1,408 shares during the last quarter. Finally, Evergreen Capital Management LLC raised its stake in Pan American Silver by 2.4% during the 4th quarter. Evergreen Capital Management LLC now owns 30,203 shares of the basic materials company's stock valued at $611,000 after buying an additional 715 shares during the last quarter. 55.43% of the stock is currently owned by hedge funds and other institutional investors.

Pan American Silver Company Profile

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.