CIBC Forecasts Strong Price Appreciation for Pan American Silver (NYSE:PAAS) Stock

Pan American Silver (NYSE:PAAS) (TSE:PAAS) had its price objective raised by CIBC from $38.00 to $42.00 in a research report released on Thursday morning,Benzinga reports. The brokerage currently has an outperformer rating on the basic materials company’s stock.

PAAS has been the subject of several other research reports. National Bankshares reissued an “outperform” rating on shares of Pan American Silver in a report on Wednesday, April 2nd. TD Securities lowered shares of Pan American Silver from a “buy” rating to a “hold” rating and cut their price target for the stock from $28.00 to $27.00 in a report on Tuesday, March 11th. Scotiabank reissued a “sector perform” rating on shares of Pan American Silver in a report on Monday, April 14th. Royal Bank of Canada raised their price target on shares of Pan American Silver from $28.00 to $30.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 11th. Finally, StockNews.com lowered shares of Pan American Silver from a “buy” rating to a “hold” rating in a report on Wednesday, April 2nd. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $29.67.

Pan American Silver Trading Up 6.5 %

Pan American Silver stock opened at $27.20 on Thursday. Pan American Silver has a 52 week low of $17.86 and a 52 week high of $28.60. The stock has a 50-day moving average price of $25.31 and a 200 day moving average price of $23.56. The company has a quick ratio of 0.96, a current ratio of 2.50 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $9.85 billion, a price-to-earnings ratio of 85.00 and a beta of 0.75.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last announced its quarterly earnings data on Wednesday, May 7th. The basic materials company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.19 by $0.23. The business had revenue of $773.20 million during the quarter, compared to analysts’ expectations of $696.62 million. Pan American Silver had a net margin of 3.98% and a return on equity of 6.14%. The business’s quarterly revenue was up 28.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.01 EPS. Sell-side analysts anticipate that Pan American Silver will post 1.26 EPS for the current year.

Pan American Silver Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Tuesday, May 20th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date of this dividend is Tuesday, May 20th. Pan American Silver’s dividend payout ratio (DPR) is currently 125.00%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Barclays PLC lifted its position in Pan American Silver by 156.4% in the third quarter. Barclays PLC now owns 61,439 shares of the basic materials company’s stock valued at $1,282,000 after acquiring an additional 37,480 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in Pan American Silver in the 3rd quarter valued at about $32,000. Laurel Wealth Advisors LLC purchased a new stake in shares of Pan American Silver during the fourth quarter worth approximately $30,000. Builder Investment Group Inc. ADV lifted its stake in shares of Pan American Silver by 0.7% in the 4th quarter. Builder Investment Group Inc. ADV now owns 259,074 shares of the basic materials company’s stock worth $5,238,000 after acquiring an additional 1,700 shares during the period. Finally, Decker Retirement Planning Inc. acquired a new stake in Pan American Silver in the fourth quarter valued at about $32,000. 55.43% of the stock is owned by institutional investors and hedge funds.

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.