Pan American Silver (NYSE:PAAS) Sees Strong Trading Volume – What’s Next?

Shares of Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) saw unusually-high trading volume on Friday . 10,643,483 shares traded hands during mid-day trading, an increase of 70% from the previous session’s volume of 6,246,955 shares.The stock last traded at $52.64 and had previously closed at $51.92.

Wall Street Analyst Weigh In

PAAS has been the topic of a number of recent analyst reports. Weiss Ratings lowered shares of Pan American Silver from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, July 16th. Zacks Research upgraded Pan American Silver from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 18th. Bank of America lowered their price objective on Pan American Silver from $77.00 to $69.00 and set a “buy” rating for the company in a report on Thursday, July 9th. BMO Capital Markets restated a “market perform” rating on shares of Pan American Silver in a research note on Thursday, August 13th. Finally, TD Cowen raised Pan American Silver from a “hold” rating to a “buy” rating and increased their target price for the stock from $67.00 to $72.00 in a report on Tuesday, May 12th. Eight research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $70.43.

Pan American Silver Trading Up 2.3%

The company has a quick ratio of 2.23, a current ratio of 2.94 and a debt-to-equity ratio of 0.11. The firm’s 50 day simple moving average is $46.31 and its two-hundred day simple moving average is $52.75. The stock has a market cap of $22.15 billion, a P/E ratio of 16.05, a price-to-earnings-growth ratio of 4.93 and a beta of 0.73.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last issued its earnings results on Wednesday, August 12th. The basic materials company reported $0.73 earnings per share for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.11). Pan American Silver had a return on equity of 20.01% and a net margin of 32.04%.The business had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same period last year, the company posted $0.43 earnings per share. The firm’s revenue for the quarter was up 38.4% on a year-over-year basis. As a group, equities research analysts predict that Pan American Silver Corp. will post 4.06 earnings per share for the current fiscal year.

Pan American Silver Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 4th. Investors of record on Monday, August 24th will be given a dividend of $0.184 per share. The ex-dividend date of this dividend is Monday, August 24th. This represents a $0.74 dividend on an annualized basis and a dividend yield of 1.4%. This is a boost from Pan American Silver’s previous quarterly dividend of $0.18. Pan American Silver’s payout ratio is currently 21.75%.

Hedge Funds Weigh In On Pan American Silver

Large investors have recently bought and sold shares of the business. AQR Capital Management LLC lifted its holdings in shares of Pan American Silver by 48.6% in the 1st quarter. AQR Capital Management LLC now owns 19,529 shares of the basic materials company’s stock worth $504,000 after purchasing an additional 6,391 shares during the last quarter. Jones Financial Companies Lllp boosted its position in Pan American Silver by 574.9% during the 1st quarter. Jones Financial Companies Lllp now owns 19,518 shares of the basic materials company’s stock valued at $504,000 after purchasing an additional 16,626 shares during the period. Goldman Sachs Group Inc. grew its stake in Pan American Silver by 31.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,499,343 shares of the basic materials company’s stock worth $38,728,000 after buying an additional 360,283 shares during the last quarter. Empowered Funds LLC bought a new position in Pan American Silver during the 1st quarter worth $1,272,000. Finally, Northwestern Mutual Wealth Management Co. increased its position in Pan American Silver by 53.6% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,703 shares of the basic materials company’s stock worth $48,000 after buying an additional 594 shares during the period. Institutional investors own 55.43% of the company’s stock.

Pan American Silver Company Profile

Pan American Silver Corp. (NYSE: PAAS) is a Vancouver-based mining company and one of the world’s largest primary silver producers. The company’s core activities encompass the exploration, development, extraction and processing of silver, with significant by-product production of gold, zinc and lead. Pan American Silver maintains a vertically integrated operating model, covering the full mining value chain from resource discovery through to refined metal production.

With a geographic footprint concentrated across the Americas, Pan American Silver operates multiple mines in Mexico, Peru, Argentina and Bolivia, and is advancing several development and exploration projects in Chile and Ecuador.