Pan American Silver (NYSE:PAAS) Trading 6.3% Higher – Should You Buy?

Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) rose 6.3% during mid-day trading on Friday . The stock traded as high as $23.61 and last traded at $23.48. Approximately 1,783,963 shares changed hands during mid-day trading, a decline of 56% from the average daily volume of 4,026,980 shares. The stock had previously closed at $22.08.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on PAAS. Jefferies Financial Group boosted their price objective on Pan American Silver from $21.00 to $23.00 and gave the company a “hold” rating in a research report on Friday, October 4th. Royal Bank of Canada upped 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 report on Tuesday, September 10th. CIBC lifted their price objective on shares of Pan American Silver from $30.00 to $35.00 and gave the company an “outperformer” rating in a research report on Wednesday, July 10th. Finally, Scotiabank upped their target price on shares of Pan American Silver from $23.00 to $26.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, July 16th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $24.93.

Pan American Silver Stock Up 10.6 %

The stock has a market cap of $8.86 billion, a P/E ratio of -62.59 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 stock’s 50-day moving average is $20.93 and its 200-day moving average is $20.62.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last posted its quarterly earnings data on Wednesday, August 7th. The basic materials company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates 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 negative net margin of 5.54% and a positive return on equity of 0.66%. Pan American Silver’s revenue was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.04 EPS. As a group, research analysts anticipate that Pan American Silver Corp. will post 0.64 earnings per share for the current fiscal year.

Pan American Silver Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors 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 1.64%. Pan American Silver’s dividend payout ratio is currently -102.56%.

Institutional Investors Weigh In On Pan American Silver

Hedge funds and other institutional investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC raised its holdings in shares of Pan American Silver by 8.8% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 439,700 shares of the basic materials company’s stock worth $9,177,000 after purchasing an additional 35,400 shares in the last quarter. Raymond James & Associates grew its position in Pan American Silver by 10.4% in the third quarter. Raymond James & Associates now owns 249,300 shares of the basic materials company’s stock worth $5,203,000 after buying an additional 23,543 shares during the last quarter. Stratos Wealth Advisors LLC increased its holdings in shares of Pan American Silver by 33.4% in the third quarter. Stratos Wealth Advisors LLC now owns 159,268 shares of the basic materials company’s stock valued at $3,324,000 after buying an additional 39,873 shares in the last quarter. Kapitalo Investimentos Ltda boosted its stake in shares of Pan American Silver by 237.2% during the 3rd quarter. Kapitalo Investimentos Ltda now owns 128,872 shares of the basic materials company’s stock worth $2,690,000 after acquiring an additional 90,650 shares in the last quarter. Finally, Creative Planning grew its holdings in shares of Pan American Silver by 10.2% in the 3rd quarter. Creative Planning now owns 33,004 shares of the basic materials company’s stock worth $689,000 after acquiring an additional 3,051 shares during the last quarter. 55.43% of the stock is currently owned by institutional investors.

Pan American Silver Company Profile

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.