Pan American Silver (NYSE:PAAS) Trading Up 7.7% After Better-Than-Expected Earnings

Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS)’s stock price shot up 7.7% on Thursday following a stronger than expected earnings report. The company traded as high as $20.06 and last traded at $20.06. 1,580,098 shares traded hands during trading, a decline of 63% from the average session volume of 4,270,614 shares. The stock had previously closed at $18.63.

The basic materials company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.07. The firm had revenue of $601.40 million for the quarter, compared to analysts’ expectations of $592.58 million. Pan American Silver had a positive return on equity of 0.44% and a negative net margin of 5.24%. The company’s quarterly revenue was up 54.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.10 EPS.

Pan American Silver Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Monday, March 4th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date of this dividend was Friday, March 1st. Pan American Silver’s payout ratio is currently -133.33%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on PAAS. Scotiabank raised their price target on Pan American Silver from $19.50 to $20.00 and gave the stock a “sector outperform” rating in a research report on Monday, April 8th. BMO Capital Markets decreased their price target on 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. Jefferies Financial Group raised their price target on Pan American Silver from $14.00 to $17.00 and gave the stock a “hold” rating in a research report on Monday, April 22nd. StockNews.com raised Pan American Silver from a “sell” rating to a “hold” rating in a research note on Wednesday, May 1st. Finally, CIBC reduced their price objective on Pan American Silver from $28.00 to $27.50 and set an “outperform” rating on the stock in a research note on Wednesday, February 7th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $21.00.

Institutional Trading of Pan American Silver

Hedge funds have recently made changes to their positions in the company. Optiver Holding B.V. lifted its stake in shares of Pan American Silver by 90.8% in the third quarter. Optiver Holding B.V. now owns 1,706 shares of the basic materials company’s stock worth $25,000 after acquiring an additional 812 shares during the period. DekaBank Deutsche Girozentrale lifted its stake in shares of Pan American Silver by 0.6% in the third quarter. DekaBank Deutsche Girozentrale now owns 142,845 shares of the basic materials company’s stock worth $2,107,000 after acquiring an additional 857 shares during the period. Mn Services Vermogensbeheer B.V. lifted its stake in shares of Pan American Silver by 0.5% in the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 174,400 shares of the basic materials company’s stock worth $2,861,000 after acquiring an additional 900 shares during the period. Stifel Financial Corp lifted its stake in shares of Pan American Silver by 0.7% in the third quarter. Stifel Financial Corp now owns 146,442 shares of the basic materials company’s stock worth $2,120,000 after acquiring an additional 1,064 shares during the period. Finally, Franklin Resources Inc. increased its holdings in Pan American Silver by 0.5% in the fourth quarter. Franklin Resources Inc. now owns 238,839 shares of the basic materials company’s stock worth $3,899,000 after purchasing an additional 1,169 shares in the last quarter. 55.43% of the stock is owned by institutional investors and hedge funds.

Pan American Silver Stock Performance

The firm has a market capitalization of $7.38 billion, a P/E ratio of -67.13, a P/E/G ratio of 2.49 and a beta of 1.36. The stock has a fifty day simple moving average of $16.43 and a two-hundred day simple moving average of $15.20. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.23 and a quick ratio of 1.09.

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.