Pan American Silver (NYSE:PAAS) Price Target Raised to $23.00 at Jefferies Financial Group

Pan American Silver (NYSE:PAAS) (TSE:PAAS) had its price target upped by Jefferies Financial Group from $21.00 to $23.00 in a research report report published on Friday morning, Benzinga reports. They currently have a hold rating on the basic materials company’s stock.

Several other research firms also recently commented on PAAS. Scotiabank boosted their target price on shares of Pan American Silver from $23.00 to $26.00 and gave the stock a sector outperform rating in a research report on Tuesday, July 16th. CIBC upped their price objective on shares of Pan American Silver from $30.00 to $35.00 and gave the stock an outperformer rating in a report on Wednesday, July 10th. Finally, Royal Bank of Canada raised their target price on Pan American Silver from $25.00 to $27.00 and gave the company an outperform rating in a report on Tuesday, September 10th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of $24.93.

Pan American Silver Stock Up 0.7 %

Pan American Silver stock traded up $0.15 during trading hours on Friday, hitting $21.51. The company had a trading volume of 2,514,738 shares, compared to its average volume of 4,120,853. The firm’s fifty day moving average is $20.65 and its 200-day moving average is $20.00. The firm has a market capitalization of $7.81 billion, a P/E ratio of -46.74 and a beta of 1.35. Pan American Silver has a fifty-two week low of $12.16 and a fifty-two week high of $24.27. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.06 and a quick ratio of 0.92.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last released its quarterly earnings data on Wednesday, August 7th. The basic materials company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.04). Pan American Silver had a negative net margin of 5.54% and a positive return on equity of 0.66%. The firm had revenue of $686.30 million for the quarter, compared to analyst estimates of $696.08 million. During the same period in the previous year, the business posted $0.04 EPS. Pan American Silver’s revenue for the quarter was up 7.3% on a year-over-year basis. On average, research analysts forecast that Pan American Silver will post 0.61 earnings per share for the current year.

Pan American Silver Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Monday, August 19th were paid a $0.10 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.86%. Pan American Silver’s payout ratio is presently -86.96%.

Institutional Investors Weigh In On Pan American Silver

Several hedge funds have recently modified their holdings of the business. Mark Sheptoff Financial Planning LLC increased its stake in Pan American Silver by 943.4% during the second quarter. Mark Sheptoff Financial Planning LLC now owns 1,659 shares of the basic materials company’s stock valued at $33,000 after acquiring an additional 1,500 shares during the period. CWM LLC lifted its position in Pan American Silver by 31.6% in the second quarter. CWM LLC now owns 2,124 shares of the basic materials company’s stock worth $42,000 after purchasing an additional 510 shares during the period. Perritt Capital Management Inc. boosted its stake in Pan American Silver by 76.9% during the first quarter. Perritt Capital Management Inc. now owns 2,300 shares of the basic materials company’s stock worth $35,000 after buying an additional 1,000 shares in the last quarter. UniSuper Management Pty Ltd increased its holdings in Pan American Silver by 73.3% in the 1st quarter. UniSuper Management Pty Ltd now owns 5,200 shares of the basic materials company’s stock valued at $78,000 after buying an additional 2,200 shares during the period. Finally, Signaturefd LLC raised its stake in shares of Pan American Silver by 11.6% in the 2nd quarter. Signaturefd LLC now owns 7,469 shares of the basic materials company’s stock valued at $148,000 after buying an additional 774 shares in the last quarter. 55.43% of the stock is owned by 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.