Pan American Silver (NYSE:PAAS) Issues Quarterly Earnings Results

Pan American Silver (NYSE:PAAS) (TSE:PAAS) posted its earnings results on Wednesday. The basic materials company reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.01), Zacks reports. The business had revenue of $854.60 million during the quarter, compared to analyst estimates of $867.76 million. Pan American Silver had a net margin of 16.80% and a return on equity of 11.49%. The firm’s revenue was up 19.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.32 earnings per share.

Pan American Silver Stock Down 1.3%

PAAS traded down $0.52 during midday trading on Friday, hitting $38.53. The company had a trading volume of 6,310,619 shares, compared to its average volume of 5,095,116. The stock’s 50 day moving average price is $37.15 and its 200 day moving average price is $31.39. Pan American Silver has a 52 week low of $19.80 and a 52 week high of $42.57. The company has a market capitalization of $16.26 billion, a price-to-earnings ratio of 26.57, a PEG ratio of 0.44 and a beta of 0.63. The company has a quick ratio of 2.11, a current ratio of 3.05 and a debt-to-equity ratio of 0.15.

Pan American Silver Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 5th. Stockholders of record on Monday, November 24th will be given a dividend of $0.14 per share. This is a positive change from Pan American Silver’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend is Monday, November 24th. This represents a $0.56 annualized dividend and a dividend yield of 1.5%. Pan American Silver’s payout ratio is 33.10%.

Analysts Set New Price Targets

Several brokerages recently issued reports on PAAS. Wall Street Zen upgraded Pan American Silver from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 1st. National Bank Financial upgraded shares of Pan American Silver to a “strong-buy” rating in a research note on Thursday, September 4th. CIBC upped their target price on Pan American Silver from $50.00 to $62.00 and gave the company an “outperformer” rating in a research report on Friday, October 10th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Pan American Silver in a report on Tuesday. Finally, Zacks Research lowered shares of Pan American Silver from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 19th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Pan American Silver currently has a consensus rating of “Moderate Buy” and a consensus price target of $41.25.

Institutional Investors Weigh In On Pan American Silver

Institutional investors have recently bought and sold shares of the stock. Parallel Advisors LLC lifted its holdings in Pan American Silver by 151.8% during the third quarter. Parallel Advisors LLC now owns 642 shares of the basic materials company’s stock worth $25,000 after acquiring an additional 387 shares during the period. Northwestern Mutual Wealth Management Co. raised its stake in shares of Pan American Silver by 53.6% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,703 shares of the basic materials company’s stock worth $48,000 after purchasing an additional 594 shares during the period. NewEdge Advisors LLC boosted its holdings in shares of Pan American Silver by 25.8% in the 2nd quarter. NewEdge Advisors LLC now owns 3,050 shares of the basic materials company’s stock worth $87,000 after buying an additional 625 shares during the last quarter. Entropy Technologies LP boosted its holdings in shares of Pan American Silver by 4.5% in the 3rd quarter. Entropy Technologies LP now owns 33,188 shares of the basic materials company’s stock worth $1,285,000 after buying an additional 1,442 shares during the last quarter. Finally, Vident Advisory LLC grew its position in Pan American Silver by 5.7% during the second quarter. Vident Advisory LLC now owns 39,642 shares of the basic materials company’s stock valued at $1,126,000 after buying an additional 2,130 shares during the period. Institutional investors own 55.43% of the company’s stock.

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.