CIBC Raises Pan American Silver (NYSE:PAAS) Price Target to $35.00

Pan American Silver (NYSE:PAAS) (TSE:PAAS) had its price objective increased by CIBC from $30.00 to $35.00 in a report published on Wednesday, Benzinga reports. The firm currently has an outperformer rating on the basic materials company’s stock.

PAAS has been the subject of a number of other research reports. StockNews.com upgraded Pan American Silver from a sell rating to a hold rating in a research report on Saturday, May 11th. Jefferies Financial Group raised their price objective on Pan American Silver from $14.00 to $17.00 and gave the company a hold rating in a research report on Monday, April 22nd. Scotiabank raised their price objective on Pan American Silver from $20.00 to $23.00 and gave the company a sector outperform rating in a research report on Thursday, May 23rd. Finally, BMO Capital Markets lifted their price target on Pan American Silver from $22.00 to $24.00 in a research report on Tuesday, May 21st. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Pan American Silver has a consensus rating of Moderate Buy and a consensus target price of $23.92.

Pan American Silver Trading Down 1.1 %

Shares of PAAS stock opened at $23.74 on Wednesday. Pan American Silver has a 52-week low of $12.16 and a 52-week high of $24.14. The company has a current ratio of 2.11, a quick ratio of 0.92 and a debt-to-equity ratio of 0.16. The stock has a fifty day simple moving average of $20.79 and a two-hundred day simple moving average of $17.13.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last issued its quarterly earnings results on Wednesday, May 8th. The basic materials company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.07. Pan American Silver had a positive return on equity of 0.13% and a negative net margin of 6.68%. The business had revenue of $601.40 million during the quarter, compared to analyst estimates of $592.58 million. During the same quarter in the prior year, the business posted $0.10 EPS. Pan American Silver’s revenue for the quarter was up 54.1% compared to the same quarter last year. As a group, analysts forecast that Pan American Silver will post 0.59 earnings per share for the current fiscal year.

Pan American Silver Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Tuesday, May 21st were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.68%. The ex-dividend date was Monday, May 20th. Pan American Silver’s payout ratio is currently -86.96%.

Institutional Trading of Pan American Silver

Several institutional investors have recently added to or reduced their stakes in the company. Van ECK Associates Corp lifted its stake in Pan American Silver by 1.4% in the first quarter. Van ECK Associates Corp now owns 46,486,439 shares of the basic materials company’s stock worth $701,016,000 after purchasing an additional 653,064 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Pan American Silver by 1.2% during the first quarter. Vanguard Group Inc. now owns 13,225,480 shares of the basic materials company’s stock valued at $199,440,000 after acquiring an additional 159,908 shares in the last quarter. Norges Bank purchased a new position in Pan American Silver during the fourth quarter valued at approximately $63,066,000. Tidal Investments LLC increased its holdings in Pan American Silver by 15,618.3% during the first quarter. Tidal Investments LLC now owns 3,803,507 shares of the basic materials company’s stock valued at $57,340,000 after buying an additional 3,779,309 shares during the period. Finally, Ameriprise Financial Inc. increased its holdings in Pan American Silver by 1.0% during the third quarter. Ameriprise Financial Inc. now owns 3,080,846 shares of the basic materials company’s stock valued at $44,636,000 after buying an additional 31,618 shares during the period. Institutional investors own 55.43% of the company’s stock.

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.