Pan American Silver (NYSE:PAAS) Upgraded by StockNews.com to “Hold”

StockNews.com upgraded shares of Pan American Silver (NYSE:PAAS) (TSE:PAAS) from a sell rating to a hold rating in a report issued on Wednesday.

Several other equities research analysts have also commented on the company. Scotiabank upped their price target on Pan American Silver from $19.50 to $20.00 and gave the stock a sector outperform rating in a research note on Monday, April 8th. TD Securities cut their price target on shares of Pan American Silver from $18.50 to $17.50 and set a buy rating on the stock in a report on Friday, February 23rd. BMO Capital Markets reduced their price target on shares of Pan American Silver from $27.00 to $22.00 and set an outperform rating on the stock in a research report on Thursday, January 18th. CIBC dropped their price objective on shares of Pan American Silver from $28.00 to $27.50 and set an outperform rating for the company in a research report on Wednesday, February 7th. Finally, Jefferies Financial Group lifted their target price on shares of Pan American Silver from $14.00 to $17.00 and gave the company a hold rating in a report on Monday, April 22nd. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $21.00.

Pan American Silver Trading Down 0.7 %

Shares of PAAS stock opened at $18.25 on Wednesday. Pan American Silver has a 1-year low of $12.16 and a 1-year high of $20.60. The firm’s 50-day simple moving average is $16.05 and its 200-day simple moving average is $15.13. The firm has a market cap of $6.63 billion, a P/E ratio of -60.83, a PEG ratio of 2.49 and a beta of 1.37. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.23 and a quick ratio of 1.09.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last posted its quarterly earnings results on Thursday, February 22nd. The basic materials company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.12). Pan American Silver had a positive return on equity of 0.44% and a negative net margin of 5.24%. The company had revenue of $669.60 million for the quarter, compared to analysts’ expectations of $657.65 million. During the same period in the prior year, the business earned ($0.02) EPS. As a group, equities analysts forecast that Pan American Silver will post 0.38 EPS for the current year.

Pan American Silver Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Monday, March 4th were given a dividend of $0.10 per share. The ex-dividend date was Friday, March 1st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.19%. Pan American Silver’s payout ratio is currently -133.33%.

Institutional Investors Weigh In On Pan American Silver

A number of large investors have recently added to or reduced their stakes in the company. Van ECK Associates Corp lifted its holdings in Pan American Silver by 1.4% in the 1st quarter. Van ECK Associates Corp now owns 46,486,439 shares of the basic materials company’s stock worth $701,016,000 after buying an additional 653,064 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Pan American Silver by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 13,065,572 shares of the basic materials company’s stock worth $213,361,000 after acquiring an additional 176,979 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Pan American Silver by 2.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,166,178 shares of the basic materials company’s stock valued at $118,246,000 after purchasing an additional 197,948 shares during the last quarter. Invesco Ltd. grew its stake in Pan American Silver by 9.7% during the 3rd quarter. Invesco Ltd. now owns 5,895,109 shares of the basic materials company’s stock valued at $85,361,000 after purchasing an additional 520,978 shares in the last quarter. Finally, Norges Bank purchased a new stake in Pan American Silver during the 4th quarter worth approximately $63,066,000. 55.43% of the stock is 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.