Edison Inv. Res Analysts Raise Earnings Estimates for Pan American Silver Corp. (NYSE:PAAS)

Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) – Equities research analysts at Edison Inv. Res lifted their FY2024 earnings per share estimates for Pan American Silver in a research note issued on Wednesday, September 18th. Edison Inv. Res analyst A. Litvin now forecasts that the basic materials company will post earnings of $0.41 per share for the year, up from their prior forecast of $0.22. The consensus estimate for Pan American Silver’s current full-year earnings is $0.59 per share.

Other analysts also recently issued reports about the company. Jefferies Financial Group lowered their target price on Pan American Silver from $22.00 to $21.00 and set a “hold” rating for the company in a research note on Friday, September 13th. Scotiabank upped their target price on Pan American Silver from $23.00 to $26.00 and gave the company a “sector outperform” rating in a research report on Tuesday, July 16th. CIBC raised their price target on shares of Pan American Silver from $30.00 to $35.00 and gave the stock an “outperformer” rating in a research report on Wednesday, July 10th. Finally, Royal Bank of Canada lifted their price target on shares of Pan American Silver from $25.00 to $27.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 10th. 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, Pan American Silver presently has a consensus rating of “Moderate Buy” and a consensus target price of $24.64.

Pan American Silver Price Performance

PAAS opened at $21.35 on Monday. Pan American Silver has a twelve month low of $12.16 and a twelve month high of $24.27. The firm has a market cap of $7.75 billion, a price-to-earnings ratio of -46.41 and a beta of 1.35. The company has a current ratio of 2.06, a quick ratio of 0.92 and a debt-to-equity ratio of 0.16. The company has a fifty day simple moving average of $20.89 and a 200 day simple moving average of $19.61.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last released its quarterly earnings results on Wednesday, August 7th. The basic materials company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.04). The company had revenue of $686.30 million for the quarter, compared to analyst estimates of $696.08 million. Pan American Silver had a positive return on equity of 0.66% and a negative net margin of 5.54%. The business’s revenue was up 7.3% on a year-over-year basis. During the same period last year, the firm posted $0.04 earnings per share.

Pan American Silver Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Monday, August 19th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Monday, August 19th. This represents a $0.40 annualized dividend and a yield of 1.87%. Pan American Silver’s payout ratio is -86.96%.

Hedge Funds Weigh In On Pan American Silver

A number of hedge funds and other institutional investors have recently bought and sold shares of PAAS. SCP Investment LP bought a new stake in Pan American Silver in the 4th quarter valued at about $307,000. Jump Financial LLC acquired a new position in shares of Pan American Silver during the fourth quarter worth approximately $235,000. Dimensional Fund Advisors LP grew its holdings in Pan American Silver by 5.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,139,812 shares of the basic materials company’s stock worth $34,944,000 after buying an additional 111,089 shares in the last quarter. Avantax Advisory Services Inc. increased its position in Pan American Silver by 20.0% in the 4th quarter. Avantax Advisory Services Inc. now owns 13,776 shares of the basic materials company’s stock valued at $225,000 after acquiring an additional 2,293 shares during the period. Finally, Norges Bank acquired a new position in Pan American Silver during the 4th quarter worth $63,066,000. 55.43% of the stock is currently 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.