Zacks Investment Research upgraded shares of Pan American Silver (NASDAQ:PAAS) (TSE:PAAS) from a hold rating to a buy rating in a report issued on Tuesday, Zacks.com reports. The firm currently has $20.00 price target on the basic materials company’s stock.
According to Zacks, “PAN AMER SILVER is a mining company focused exclusively on silver. Pan American Silver Corp. is founded upon a single mission, to become the best vehicle for equity investors wanting to gain real exposure to higher silver prices. To accomplish this they are striving to increase their low-cost silver production, to have the most successful silver exploration programs, to hold the largest silver reserves and resources, and to be the purest of the world’s large silver producers. “
Other research analysts have also issued reports about the company. Royal Bank of Canada upgraded Pan American Silver from a sector perform rating to an outperform rating and raised their price target for the stock from $17.00 to $23.00 in a research report on Thursday, September 5th. BidaskClub lowered Pan American Silver from a buy rating to a hold rating in a research report on Friday, November 8th. National Bank Financial upgraded Pan American Silver from a sector perform rating to an outperform rating and set a $31.00 price target for the company in a research report on Friday, August 30th. B. Riley lowered their price target on Pan American Silver from $23.20 to $19.00 and set a neutral rating for the company in a research report on Monday, October 21st. Finally, TD Securities raised their price target on Pan American Silver from $20.00 to $22.00 and gave the stock a buy rating in a research report on Friday, August 9th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company’s stock. Pan American Silver currently has an average rating of Hold and a consensus price target of $20.53.
Pan American Silver (NASDAQ:PAAS) (TSE:PAAS) last released its quarterly earnings results on Wednesday, November 6th. The basic materials company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.10 by $0.25. Pan American Silver had a return on equity of 4.09% and a net margin of 2.51%. The business had revenue of $352.19 million during the quarter, compared to analyst estimates of $324.87 million. During the same period last year, the business posted ($0.03) earnings per share. The company’s quarterly revenue was up 87.6% on a year-over-year basis. On average, equities research analysts expect that Pan American Silver will post 0.41 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Monday, November 18th will be issued a $0.035 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.14 dividend on an annualized basis and a yield of 0.76%. Pan American Silver’s dividend payout ratio (DPR) is presently 35.90%.
A number of large investors have recently added to or reduced their stakes in PAAS. Amundi Pioneer Asset Management Inc. boosted its holdings in Pan American Silver by 105.9% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 765,988 shares of the basic materials company’s stock valued at $10,150,000 after purchasing an additional 393,988 shares during the period. Ingalls & Snyder LLC purchased a new position in Pan American Silver in the second quarter valued at $3,762,000. Exane Derivatives boosted its holdings in Pan American Silver by 9.7% in the second quarter. Exane Derivatives now owns 23,528 shares of the basic materials company’s stock valued at $304,000 after purchasing an additional 2,081 shares during the period. NEXT Financial Group Inc purchased a new position in Pan American Silver in the second quarter valued at $194,000. Finally, Foundry Partners LLC boosted its holdings in Pan American Silver by 7.4% in the second quarter. Foundry Partners LLC now owns 764,429 shares of the basic materials company’s stock valued at $9,869,000 after purchasing an additional 52,913 shares during the period. Hedge funds and other institutional investors own 51.44% of the company’s stock.
Pan American Silver Company Profile
Pan American Silver Corp., together with its subsidiaries, engages in the exploration, development, extraction, processing, refining, and reclamation of silver mines. The company owns and operates mines located in Mexico, Peru, Canada, Argentina, and Bolivia. It also produces and sells gold, zinc, lead, and copper.
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