Pan American Silver (NYSE:PAAS) Hits New 12-Month High on Analyst Upgrade

Pan American Silver Corp. (NYSE:PAAS - Get Free Report) TSE: PAAS hit a new 52-week high during trading on Tuesday after Bank of America raised their price target on the stock from $46.00 to $51.00. Bank of America currently has a buy rating on the stock. Pan American Silver traded as high as $46.60 and last traded at $46.09, with a volume of 9820142 shares changing hands. The stock had previously closed at $45.67.

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PAAS has been the subject of a number of other research reports. National Bankshares restated an "outperform" rating on shares of Pan American Silver in a research report on Friday, September 5th. Zacks Research upgraded shares of Pan American Silver from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, November 25th. Wall Street Zen cut shares of Pan American Silver from a "strong-buy" rating to a "buy" rating in a research note on Saturday, November 15th. CIBC upped their target price on shares of Pan American Silver from $50.00 to $62.00 and gave the company an "outperformer" rating in a research note on Friday, October 10th. Finally, National Bank Financial upgraded shares of Pan American Silver to a "strong-buy" rating in a research note on Thursday, September 4th. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of "Buy" and a consensus price target of $43.20.

Get Our Latest Analysis on Pan American Silver

Institutional Investors Weigh In On Pan American Silver

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A number of institutional investors and hedge funds have recently modified their holdings of the business. Van ECK Associates Corp grew its position in shares of Pan American Silver by 51.8% during the 3rd quarter. Van ECK Associates Corp now owns 45,142,060 shares of the basic materials company's stock worth $1,748,355,000 after buying an additional 15,405,762 shares during the period. Vanguard Group Inc. boosted its stake in Pan American Silver by 21.2% during the 3rd quarter. Vanguard Group Inc. now owns 17,191,611 shares of the basic materials company's stock worth $666,192,000 after acquiring an additional 3,006,055 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Pan American Silver by 38.7% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,462,912 shares of the basic materials company's stock valued at $560,149,000 after purchasing an additional 4,037,311 shares during the period. Invesco Ltd. increased its stake in Pan American Silver by 9.8% in the third quarter. Invesco Ltd. now owns 9,898,397 shares of the basic materials company's stock valued at $383,365,000 after purchasing an additional 882,135 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its stake in Pan American Silver by 5,674.3% in the second quarter. Arrowstreet Capital Limited Partnership now owns 6,141,108 shares of the basic materials company's stock valued at $174,406,000 after purchasing an additional 6,034,755 shares in the last quarter. 55.43% of the stock is owned by institutional investors.

Pan American Silver Trading Up 0.9%

The company has a market capitalization of $19.45 billion, a price-to-earnings ratio of 31.79, a price-to-earnings-growth ratio of 0.44 and a beta of 0.63. The company has a quick ratio of 2.11, a current ratio of 3.05 and a debt-to-equity ratio of 0.15. The company's fifty day simple moving average is $38.11 and its two-hundred day simple moving average is $32.82.

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Pan American Silver (NYSE:PAAS - Get Free Report) TSE: PAAS last announced its earnings results on Wednesday, November 12th. The basic materials company reported $0.48 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.01). Pan American Silver had a return on equity of 11.49% and a net margin of 16.80%.The company had revenue of $854.60 million for the quarter, compared to analyst estimates of $867.76 million. During the same quarter last year, the business posted $0.32 earnings per share. The business's quarterly revenue was up 19.3% on a year-over-year basis. Research analysts forecast that Pan American Silver Corp. will post 1.26 earnings per share for the current fiscal year.

Pan American Silver Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 5th. Investors of record on Monday, November 24th will be issued a dividend of $0.14 per share. The ex-dividend date is Monday, November 24th. This is a positive change from Pan American Silver's previous quarterly dividend of $0.12. This represents a $0.56 dividend on an annualized basis and a yield of 1.2%. Pan American Silver's dividend payout ratio is presently 32.37%.

About Pan American Silver

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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