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

by · The Cerbat Gem

Pan American Silver (NYSE:PAAS – Free Report) (TSE:PAAS) had its price objective increased by Jefferies Financial Group from $21.00 to $23.00 in a research note released on Friday morning, Benzinga reports. They currently have a hold rating on the basic materials company’s stock.

Other equities analysts also recently issued research reports about the stock. Scotiabank upped their price objective on shares of Pan American Silver from $23.00 to $26.00 and gave the company a sector outperform rating in a research note on Tuesday, July 16th. CIBC raised their target price on shares of Pan American Silver from $30.00 to $35.00 and gave the stock an outperformer rating in a research report on Wednesday, July 10th. Finally, Royal Bank of Canada increased their price target on shares of Pan American Silver from $25.00 to $27.00 and gave the stock an outperform rating in a research note on Tuesday, September 10th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Pan American Silver currently has an average rating of Moderate Buy and a consensus target price of $24.93.

View Our Latest Stock Report on PAAS

Pan American Silver Stock Performance

Shares of PAAS stock opened at $21.51 on Friday. The stock has a fifty day moving average price of $20.65 and a 200 day moving average price of $20.09. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.92 and a current ratio of 2.06. The stock has a market cap of $7.81 billion, a PE ratio of -46.76 and a beta of 1.35. Pan American Silver has a 1 year low of $12.16 and a 1 year high of $24.27.

Pan American Silver (NYSE:PAAS – Get Free Report) (TSE:PAAS) last released its quarterly earnings results on Wednesday, August 7th. The basic materials company reported $0.11 EPS for the quarter, missing the consensus estimate 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 business had revenue of $686.30 million during the quarter, compared to analyst estimates of $696.08 million. During the same quarter in the prior year, the company earned $0.04 earnings per share. The firm’s revenue for the quarter was up 7.3% compared to the same quarter last year. Sell-side analysts forecast that Pan American Silver will post 0.62 earnings per share for the current fiscal year.

Pan American Silver Announces Dividend

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

Institutional Trading of Pan American Silver

A number of institutional investors and hedge funds have recently modified their holdings of the business. Cetera Investment Advisers increased its position in Pan American Silver by 83.5% in the 2nd quarter. Cetera Investment Advisers now owns 190,452 shares of the basic materials company’s stock valued at $3,786,000 after acquiring an additional 86,673 shares during the period. Truist Financial Corp bought a new position in Pan American Silver during the 2nd quarter valued at $997,000. B. Riley Wealth Advisors Inc. raised its stake in shares of Pan American Silver by 13.3% in the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 209,234 shares of the basic materials company’s stock worth $4,160,000 after buying an additional 24,572 shares in the last quarter. Creative Planning boosted its stake in Pan American Silver by 45.5% during the second quarter. Creative Planning now owns 29,953 shares of the basic materials company’s stock valued at $595,000 after buying an additional 9,369 shares in the last quarter. Finally, Driehaus Capital Management LLC acquired a new stake in Pan American Silver in the 2nd quarter valued at about $38,116,000. 55.43% of the stock is owned by institutional investors and hedge funds.

Pan American Silver Company Profile

(Get Free Report)

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.

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