Pan American Silver (NYSE:PAAS) Price Target Raised to $42.00

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

A number of other research analysts have also recently commented on PAAS. Scotiabank reaffirmed a “sector perform” rating on shares of Pan American Silver in a research note on Monday, April 14th. Royal Bank of Canada upped their target price on Pan American Silver from $28.00 to $30.00 and gave the stock an “outperform” rating in a report on Tuesday, February 11th. National Bankshares restated an “outperform” rating on shares of Pan American Silver in a research note on Wednesday, April 2nd. TD Securities cut shares of Pan American Silver from a “buy” rating to a “hold” rating and dropped their target price for the stock from $28.00 to $27.00 in a report on Tuesday, March 11th. Finally, BMO Capital Markets assumed coverage on shares of Pan American Silver in a report on Wednesday, April 16th. They issued a “market perform” rating for the company. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Pan American Silver has a consensus rating of “Hold” and an average price target of $29.67.

Pan American Silver Price Performance

Shares of Pan American Silver stock opened at $27.20 on Thursday. Pan American Silver has a one year low of $17.86 and a one year high of $28.60. The stock has a market cap of $9.85 billion, a P/E ratio of 85.00 and a beta of 0.75. The stock’s fifty day moving average is $25.31 and its 200 day moving average is $23.56. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.96 and a current ratio of 2.50.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last issued its earnings results on Wednesday, May 7th. The basic materials company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.23. The firm had revenue of $773.20 million during the quarter, compared to analyst estimates of $696.62 million. Pan American Silver had a net margin of 3.98% and a return on equity of 6.14%. Pan American Silver’s revenue for the quarter was up 28.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.01 earnings per share. Sell-side analysts anticipate that Pan American Silver will post 1.26 earnings per share for the current year.

Pan American Silver Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Tuesday, May 20th will be given a dividend of $0.10 per share. The ex-dividend date is Tuesday, May 20th. This represents a $0.40 dividend on an annualized basis and a yield of 1.47%. Pan American Silver’s payout ratio is 125.00%.

Hedge Funds Weigh In On Pan American Silver

Several institutional investors and hedge funds have recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Pan American Silver in the 4th quarter worth $91,916,000. Jupiter Asset Management Ltd. acquired a new stake in Pan American Silver in the fourth quarter worth about $24,083,000. Hsbc Holdings PLC grew its stake in shares of Pan American Silver by 661.2% during the fourth quarter. Hsbc Holdings PLC now owns 1,307,617 shares of the basic materials company’s stock worth $26,300,000 after acquiring an additional 1,135,839 shares during the last quarter. TD Asset Management Inc increased its holdings in shares of Pan American Silver by 71.7% during the first quarter. TD Asset Management Inc now owns 1,971,544 shares of the basic materials company’s stock valued at $50,917,000 after acquiring an additional 823,390 shares in the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of Pan American Silver by 110.0% in the 4th quarter. Renaissance Technologies LLC now owns 1,498,246 shares of the basic materials company’s stock valued at $30,295,000 after purchasing an additional 784,906 shares during the last quarter. 55.43% of the stock is owned by hedge funds and other institutional investors.

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.