Pan American Silver (NYSE:PAAS) Shares Up 7.8% – Time to Buy?

Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS)’s share price rose 7.8% during trading on Tuesday . The company traded as high as $46.40 and last traded at $46.9670. Approximately 2,374,304 shares were traded during mid-day trading, a decline of 53% from the average daily volume of 5,097,033 shares. The stock had previously closed at $43.55.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. National Bankshares reissued an “outperform” rating on shares of Pan American Silver in a research note on Friday, September 5th. Scotiabank increased their price target on shares of Pan American Silver from $36.00 to $47.00 and gave the stock an “outperform” rating in a research report on Thursday, October 23rd. National Bank Financial raised shares of Pan American Silver to a “strong-buy” rating in a research report on Thursday, September 4th. Weiss Ratings reiterated a “buy (b)” rating on shares of Pan American Silver in a research report on Monday, December 1st. Finally, CIBC boosted their price target on shares of Pan American Silver from $50.00 to $62.00 and gave the company an “outperformer” rating in a report on Friday, October 10th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $44.33.

Pan American Silver Price Performance

The company has a debt-to-equity ratio of 0.12, a current ratio of 2.31 and a quick ratio of 1.55. The stock’s fifty day simple moving average is $38.78 and its 200-day simple moving average is $33.55. The company has a market capitalization of $20.19 billion, a P/E ratio of 27.67, a PEG ratio of 0.43 and a beta of 0.71.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last posted its quarterly earnings data on Wednesday, November 12th. The basic materials company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.01). Pan American Silver had a return on equity of 11.66% and a net margin of 19.52%.The company had revenue of $854.60 million for the quarter, compared to the consensus estimate of $867.76 million. During the same quarter in the previous year, the firm posted $0.32 EPS. The business’s revenue for the quarter was up 19.3% compared to the same quarter last year. On average, equities analysts forecast that Pan American Silver Corp. will post 1.26 earnings per share for the current fiscal year.

Pan American Silver Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 5th. Stockholders of record on Monday, November 24th were issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend was Monday, November 24th. This is a boost from Pan American Silver’s previous quarterly dividend of $0.12. Pan American Silver’s payout ratio is currently 32.37%.

Hedge Funds Weigh In On Pan American Silver

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PAAS. Parallel Advisors LLC lifted its position in shares of 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 purchasing an additional 387 shares in the last quarter. Rothschild Investment LLC bought a new stake in shares of Pan American Silver during the third quarter worth approximately $36,000. City State Bank lifted its holdings in Pan American Silver by 74.4% in the third quarter. City State Bank now owns 1,020 shares of the basic materials company’s stock valued at $40,000 after buying an additional 435 shares during the period. EverSource Wealth Advisors LLC boosted its stake in Pan American Silver by 93.6% in the third quarter. EverSource Wealth Advisors LLC now owns 1,028 shares of the basic materials company’s stock valued at $40,000 after acquiring an additional 497 shares during the last quarter. Finally, Assetmark Inc. grew its stake in shares of Pan American Silver by 3,111.4% during the third quarter. Assetmark Inc. now owns 1,124 shares of the basic materials company’s stock worth $44,000 after purchasing an additional 1,089 shares during the period. 55.43% of the stock is currently 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.