Pan American Silver Corp. (NYSE:PAAS) Receives Consensus Rating of “Moderate Buy” from Brokerages

Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) has earned a consensus rating of “Moderate Buy” from the eleven ratings firms that are presently covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $70.4286.

PAAS has been the subject of a number of research reports. Jefferies Financial Group dropped their price objective on Pan American Silver from $54.00 to $53.00 and set a “hold” rating for the company in a research note on Monday, July 6th. Zacks Research upgraded Pan American Silver from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 18th. Scotiabank reaffirmed an “outperform” rating on shares of Pan American Silver in a research report on Tuesday, July 14th. Bank of America cut their price target on shares of Pan American Silver from $77.00 to $69.00 and set a “buy” rating on the stock in a research note on Thursday, July 9th. Finally, Weiss Ratings cut shares of Pan American Silver from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, July 16th.

Pan American Silver Trading Down 3.4%

NYSE PAAS opened at $53.00 on Monday. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.94 and a quick ratio of 2.23. The stock has a market capitalization of $22.10 billion, a P/E ratio of 16.01, a PEG ratio of 5.12 and a beta of 0.73. The firm’s 50-day moving average is $46.65 and its two-hundred day moving average is $52.70. Pan American Silver has a 12 month low of $32.95 and a 12 month high of $69.99.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last posted its earnings results on Wednesday, August 12th. The basic materials company reported $0.73 earnings per share for the quarter, missing the consensus estimate of $0.84 by ($0.11). The company had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.16 billion. Pan American Silver had a net margin of 32.04% and a return on equity of 20.01%. The firm’s revenue for the quarter was up 38.4% on a year-over-year basis. During the same quarter last year, the business posted $0.43 EPS. On average, sell-side analysts anticipate that Pan American Silver will post 4.02 earnings per share for the current year.

Pan American Silver Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 4th. Investors of record on Monday, August 24th will be paid a dividend of $0.184 per share. This represents a $0.74 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Monday, August 24th. This is an increase from Pan American Silver’s previous quarterly dividend of $0.18. Pan American Silver’s payout ratio is currently 22.36%.

Hedge Funds Weigh In On Pan American Silver

Institutional investors have recently modified their holdings of the business. BlackRock Inc. acquired a new stake in shares of Pan American Silver in the second quarter valued at $375,948,000. Norges Bank acquired a new position in Pan American Silver during the 4th quarter worth $303,611,000. FIL Ltd grew its stake in Pan American Silver by 154.7% during the 4th quarter. FIL Ltd now owns 7,307,777 shares of the basic materials company’s stock worth $378,872,000 after purchasing an additional 4,438,478 shares in the last quarter. Capital International Investors purchased a new stake in Pan American Silver during the 4th quarter worth about $215,484,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in Pan American Silver in the 2nd quarter valued at about $145,312,000. Institutional investors and hedge funds own 55.43% of the company’s stock.

About Pan American Silver

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.