Pan American Silver (NYSE:PAAS) Trading Down 8.2% – Here’s Why

Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS)’s stock price fell 8.2% during trading on Thursday . The stock traded as low as $45.94 and last traded at $47.5380. 8,171,787 shares were traded during trading, a decline of 5% from the average session volume of 8,585,568 shares. The stock had previously closed at $51.79.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Jefferies Financial Group lowered their price target on Pan American Silver from $58.00 to $54.00 and set a “hold” rating on the stock in a research report on Wednesday, January 21st. Bank of America raised their target price on Pan American Silver from $46.00 to $51.00 and gave the company a “buy” rating in a research note on Monday, December 1st. Scotiabank lifted their target price on Pan American Silver from $47.00 to $64.00 and gave the stock an “outperform” rating in a report on Monday, January 26th. Canadian Imperial Bank of Commerce set a $88.00 price objective on Pan American Silver and gave the stock an “outperform” rating in a research note on Wednesday, February 4th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Pan American Silver in a research note on Monday, December 29th. Five equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $56.60.

Pan American Silver Trading Down 8.0%

The firm has a market capitalization of $20.10 billion, a PE ratio of 19.08, a price-to-earnings-growth ratio of 0.51 and a beta of 0.62. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.69 and a quick ratio of 1.97. The company has a fifty day moving average of $59.28 and a 200-day moving average of $47.55.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last issued its earnings results on Wednesday, February 18th. The basic materials company reported $1.11 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.21. The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.11 billion. Pan American Silver had a return on equity of 16.38% and a net margin of 27.07%.The business’s revenue was up 44.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.35 EPS. On average, sell-side analysts anticipate that Pan American Silver Corp. will post 1.26 earnings per share for the current fiscal year.

Pan American Silver Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Monday, March 2nd were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.5%. This is a boost from Pan American Silver’s previous quarterly dividend of $0.14. The ex-dividend date was Monday, March 2nd. Pan American Silver’s dividend payout ratio is presently 28.80%.

Institutional Investors Weigh In On Pan American Silver

Several institutional investors and hedge funds have recently modified their holdings of PAAS. XTX Topco Ltd grew its stake in Pan American Silver by 123.9% during the second quarter. XTX Topco Ltd now owns 52,331 shares of the basic materials company’s stock worth $1,486,000 after buying an additional 28,963 shares during the last quarter. Knights of Columbus Asset Advisors LLC raised its stake in shares of Pan American Silver by 176.9% in the third quarter. Knights of Columbus Asset Advisors LLC now owns 114,780 shares of the basic materials company’s stock valued at $4,445,000 after acquiring an additional 73,326 shares during the last quarter. J. Safra Sarasin Holding AG boosted its holdings in shares of Pan American Silver by 117.9% in the 3rd quarter. J. Safra Sarasin Holding AG now owns 43,946 shares of the basic materials company’s stock worth $1,702,000 after acquiring an additional 23,780 shares in the last quarter. Hollencrest Capital Management grew its position in Pan American Silver by 214.3% during the 3rd quarter. Hollencrest Capital Management now owns 121,633 shares of the basic materials company’s stock worth $4,711,000 after acquiring an additional 82,932 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC increased its holdings in Pan American Silver by 363.2% during the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 151,801 shares of the basic materials company’s stock valued at $5,879,000 after purchasing an additional 119,028 shares in the last quarter. Institutional investors and hedge funds own 55.43% of the company’s stock.

About Pan American Silver

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.