Pan American Silver (NYSE:PAAS) Sets New 1-Year High After Earnings Beat

Shares of Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) hit a new 52-week high during trading on Thursday following a stronger than expected earnings report. The company traded as high as $31.47 and last traded at $30.90, with a volume of 2606123 shares trading hands. The stock had previously closed at $29.35.

The basic materials company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.03. The company had revenue of $811.90 million during the quarter, compared to analyst estimates of $782.12 million. Pan American Silver had a net margin of 16.80% and a return on equity of 11.49%. The company’s revenue was up 18.3% on a year-over-year basis. During the same quarter last year, the business posted $0.11 earnings per share.

Pan American Silver Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Monday, August 18th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Monday, August 18th. This represents a $0.48 annualized dividend and a yield of 1.5%. This is a positive change from Pan American Silver’s previous quarterly dividend of $0.10. Pan American Silver’s dividend payout ratio (DPR) is currently 45.98%.

Analyst Ratings Changes

Several research analysts have issued reports on PAAS shares. Wall Street Zen raised Pan American Silver from a “buy” rating to a “strong-buy” rating in a report on Thursday, May 15th. Scotiabank reaffirmed a “sector perform” rating on shares of Pan American Silver in a report on Monday, April 14th. CIBC reaffirmed an “outperform” rating on shares of Pan American Silver in a report on Tuesday, July 15th. TD Securities reduced their price objective on Pan American Silver from $30.00 to $26.00 and set a “hold” rating on the stock in a report on Thursday, May 22nd. Finally, BMO Capital Markets started coverage on Pan American Silver in a report on Wednesday, April 16th. They set a “market perform” rating on the stock. Four investment analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $31.40.

Institutional Trading of Pan American Silver

Institutional investors have recently bought and sold shares of the business. Graybill Wealth Management LTD. acquired a new stake in Pan American Silver during the 1st quarter worth $33,000. Mark Sheptoff Financial Planning LLC acquired a new stake in Pan American Silver during the 2nd quarter worth $51,000. Kiker Wealth Management LLC grew its holdings in Pan American Silver by 42.4% during the 2nd quarter. Kiker Wealth Management LLC now owns 2,014 shares of the basic materials company’s stock worth $57,000 after acquiring an additional 600 shares during the period. CWM LLC grew its holdings in Pan American Silver by 32.1% during the 2nd quarter. CWM LLC now owns 2,264 shares of the basic materials company’s stock worth $64,000 after acquiring an additional 550 shares during the period. Finally, Farther Finance Advisors LLC grew its holdings in Pan American Silver by 39.8% during the 1st quarter. Farther Finance Advisors LLC now owns 2,720 shares of the basic materials company’s stock worth $70,000 after acquiring an additional 775 shares during the period. Institutional investors and hedge funds own 55.43% of the company’s stock.

Pan American Silver Stock Up 1.6%

The business’s fifty day simple moving average is $28.79 and its 200 day simple moving average is $26.06. The company has a current ratio of 3.05, a quick ratio of 1.94 and a debt-to-equity ratio of 0.15. The stock has a market cap of $11.56 billion, a price-to-earnings ratio of 22.03, a price-to-earnings-growth ratio of 0.42 and a beta of 0.60.

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.