Pan American Silver (NYSE:PAAS) Cut to Buy at Wall Street Zen

Wall Street Zen cut shares of Pan American Silver (NYSE:PAAS) (TSE:PAAS) from a strong-buy rating to a buy rating in a research note released on Saturday.

A number of other research firms have also recently weighed in on PAAS. Scotiabank decreased their price objective on Pan American Silver from $36.50 to $36.00 and set an “outperform” rating for the company in a research report on Friday, September 5th. National Bankshares reaffirmed an “outperform” rating on shares of Pan American Silver in a research report on Friday, September 5th. Zacks Research cut Pan American Silver from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 19th. National Bank Financial raised Pan American Silver to a “strong-buy” rating in a research report on Thursday, September 4th. Finally, CIBC increased their price objective on Pan American Silver from $50.00 to $62.00 and gave the stock an “outperformer” rating in a research report on Friday, October 10th. 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’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $38.50.

Pan American Silver Trading Up 2.3%

NYSE:PAAS opened at $39.32 on Friday. The stock’s 50 day moving average price is $36.04 and its 200 day moving average price is $30.14. The company has a market capitalization of $16.59 billion, a PE ratio of 27.12, a P/E/G ratio of 0.48 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 has a 52-week low of $19.80 and a 52-week high of $42.57.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last released its quarterly earnings results on Wednesday, August 6th. The basic materials company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.03. Pan American Silver had a return on equity of 11.49% and a net margin of 16.80%.The firm had revenue of $811.90 million for the quarter, compared to the consensus estimate of $782.12 million. During the same quarter last year, the business posted $0.11 EPS. The firm’s quarterly revenue was up 18.3% compared to the same quarter last year. On average, research analysts anticipate that Pan American Silver will post 1.26 EPS for the current year.

Pan American Silver Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Monday, August 18th were issued a $0.12 dividend. The ex-dividend date of this dividend was Monday, August 18th. This represents a $0.48 annualized dividend and a dividend yield of 1.2%. This is an increase from Pan American Silver’s previous quarterly dividend of $0.10. Pan American Silver’s payout ratio is 33.10%.

Institutional Trading of Pan American Silver

Several hedge funds have recently modified their holdings of the business. Graybill Wealth Management LTD. acquired a new position in Pan American Silver during the first quarter worth $33,000. City State Bank raised its holdings in Pan American Silver by 74.4% during the third quarter. City State Bank now owns 1,020 shares of the basic materials company’s stock worth $40,000 after purchasing an additional 435 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in Pan American Silver by 53.6% during the second 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 last quarter. Mark Sheptoff Financial Planning LLC acquired a new position in Pan American Silver during the second quarter worth $51,000. Finally, Kiker Wealth Management LLC raised its holdings in Pan American Silver by 42.4% during the second quarter. Kiker Wealth Management LLC now owns 2,014 shares of the basic materials company’s stock worth $57,000 after purchasing an additional 600 shares during the last quarter. 55.43% of the stock is owned by institutional investors and hedge funds.

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.