Pan American Silver (NYSE:PAAS) Posts Quarterly Earnings Results, Misses Expectations By $0.11 EPS

Pan American Silver (NYSE:PAAS) (TSE:PAAS) released its earnings results on Wednesday. The basic materials company reported $0.73 earnings per share for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.11), Zacks reports. Pan American Silver had a return on equity of 19.50% and a net margin of 31.66%.During the same period last year, the company earned $0.43 EPS. The firm’s revenue for the quarter was up 38.4% compared to the same quarter last year.

Pan American Silver Stock Up 1.3%

PAAS opened at $52.46 on Thursday. The firm’s 50-day simple moving average is $46.07 and its 200-day simple moving average is $53.35. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.11 and a current ratio of 2.84. Pan American Silver has a twelve month low of $30.59 and a twelve month high of $69.99. The firm has a market cap of $21.88 billion, a price-to-earnings ratio of 16.87, a PEG ratio of 4.48 and a beta of 0.73.

Pan American Silver Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 4th. Stockholders of record on Monday, August 24th will be paid a $0.184 dividend. The ex-dividend date is Monday, August 24th. This represents a $0.74 annualized dividend and a dividend yield of 1.4%. This is a boost from Pan American Silver’s previous quarterly dividend of $0.18. Pan American Silver’s dividend payout ratio is presently 23.15%.

Hedge Funds Weigh In On Pan American Silver

Institutional investors have recently added to or reduced their stakes in the company. Jump Financial LLC acquired a new stake in Pan American Silver during the 4th quarter valued at $200,000. Parkside Financial Bank & Trust boosted its position in Pan American Silver by 100.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,220 shares of the basic materials company’s stock worth $63,000 after purchasing an additional 610 shares during the period. CIBC Private Wealth Group LLC acquired a new position in shares of Pan American Silver in the third quarter valued at $113,000. Wexford Capital LP acquired a new position in shares of Pan American Silver in the third quarter valued at $171,000. Finally, Northwestern Mutual Wealth Management Co. raised its position in shares of Pan American Silver by 82.1% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 3,102 shares of the basic materials company’s stock valued at $120,000 after purchasing an additional 1,399 shares during the period. 55.43% of the stock is owned by institutional investors.

Analyst Ratings Changes

PAAS has been the topic of several analyst reports. Weiss Ratings lowered shares of Pan American Silver from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, July 16th. Wall Street Zen downgraded shares of Pan American Silver from a “strong-buy” rating to a “buy” rating in a report on Sunday, July 12th. Bank of America decreased their target price on shares of Pan American Silver from $77.00 to $69.00 and set a “buy” rating on the stock in a research report on Thursday, July 9th. TD Cowen raised shares of Pan American Silver from a “hold” rating to a “buy” rating and upped their target price for the company from $67.00 to $72.00 in a research note on Tuesday, May 12th. Finally, Scotiabank reissued an “outperform” rating on shares of Pan American Silver in a research report on Tuesday, July 14th. Eight investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $70.43.

Pan American Silver Company Profile

Pan American Silver Corp. (NYSE: PAAS) is a Vancouver-based mining company and one of the world’s largest primary silver producers. The company’s core activities encompass the exploration, development, extraction and processing of silver, with significant by-product production of gold, zinc and lead. Pan American Silver maintains a vertically integrated operating model, covering the full mining value chain from resource discovery through to refined metal production.

With a geographic footprint concentrated across the Americas, Pan American Silver operates multiple mines in Mexico, Peru, Argentina and Bolivia, and is advancing several development and exploration projects in Chile and Ecuador.