Brokerages Set Pan American Silver Corp. (NYSE:PAAS) Target Price at $70.43

Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) has earned a consensus rating of “Moderate Buy” from the eleven ratings firms that are currently covering the company, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $70.4286.

Several brokerages have recently commented on PAAS. Bank of America decreased their price target on Pan American Silver from $77.00 to $69.00 and set a “buy” rating on the stock in a research note on Thursday, July 9th. TD Cowen raised Pan American Silver from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $67.00 to $72.00 in a report on Tuesday, May 12th. Scotiabank reiterated an “outperform” rating on shares of Pan American Silver in a research report on Tuesday, July 14th. Jefferies Financial Group lowered their target price on Pan American Silver from $54.00 to $53.00 and set a “hold” rating on the stock in a report on Monday, July 6th. Finally, BMO Capital Markets restated a “market perform” rating on shares of Pan American Silver in a research report on Thursday, August 13th.

Pan American Silver Stock Performance

Shares of PAAS opened at $52.63 on Monday. The company has a quick ratio of 2.23, a current ratio of 2.94 and a debt-to-equity ratio of 0.11. Pan American Silver has a 52-week low of $32.32 and a 52-week high of $69.99. The company has a 50-day simple moving average of $46.45 and a 200-day simple moving average of $52.70. The company has a market capitalization of $21.95 billion, a PE ratio of 15.90, a P/E/G ratio of 5.01 and a beta of 0.73.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last released its quarterly earnings data on Wednesday, August 12th. The basic materials company reported $0.73 EPS for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.11). Pan American Silver had a return on equity of 20.01% and a net margin of 32.04%.The company had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.16 billion. During the same period in the prior year, the firm posted $0.43 EPS. The firm’s quarterly revenue was up 38.4% on a year-over-year basis. Equities research analysts predict that Pan American Silver will post 4.06 earnings per share for the current fiscal year.

Pan American Silver Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 4th. Investors of record on Monday, August 24th will be paid a $0.184 dividend. This represents a $0.74 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Monday, August 24th. This is a positive change from Pan American Silver’s previous quarterly dividend of $0.18. Pan American Silver’s dividend payout ratio is currently 22.36%.

Hedge Funds Weigh In On Pan American Silver

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. RFG Advisory LLC increased its holdings in shares of Pan American Silver by 2.5% during the first quarter. RFG Advisory LLC now owns 7,731 shares of the basic materials company’s stock valued at $422,000 after purchasing an additional 191 shares during the period. Grand Central Investment Group grew its position in Pan American Silver by 0.5% in the 1st quarter. Grand Central Investment Group now owns 44,801 shares of the basic materials company’s stock valued at $2,447,000 after buying an additional 211 shares in the last quarter. Metis Global Partners LLC grew its position in Pan American Silver by 1.5% in the 4th quarter. Metis Global Partners LLC now owns 16,646 shares of the basic materials company’s stock valued at $863,000 after buying an additional 239 shares in the last quarter. North Star Investment Management Corp. increased its stake in Pan American Silver by 7.8% during the 1st quarter. North Star Investment Management Corp. now owns 3,451 shares of the basic materials company’s stock valued at $189,000 after buying an additional 251 shares during the period. Finally, Ieq Capital LLC increased its stake in Pan American Silver by 2.3% during the 4th quarter. Ieq Capital LLC now owns 11,329 shares of the basic materials company’s stock valued at $587,000 after buying an additional 259 shares during the period. Institutional investors and hedge funds own 55.43% of the company’s stock.

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.