Zacks Investment Research cut shares of Pan American Silver (NASDAQ:PAAS) (TSE:PAAS) from a buy rating to a hold rating in a research note issued to investors on Friday, February 16th.
According to Zacks, “PAN AMER SILVER is a mining company focused exclusively on silver. Pan American Silver Corp. is founded upon a single mission, to become the best vehicle for equity investors wanting to gain real exposure to higher silver prices. To accomplish this they are striving to increase their low-cost silver production, to have the most successful silver exploration programs, to hold the largest silver reserves and resources, and to be the purest of the world’s large silver producers. “
A number of other brokerages have also recently commented on PAAS. BidaskClub upgraded shares of Pan American Silver from a sell rating to a hold rating in a report on Thursday, February 15th. Canaccord Genuity reiterated a buy rating and issued a $19.00 price target on shares of Pan American Silver in a research note on Friday, January 12th. B. Riley reiterated a neutral rating on shares of Pan American Silver in a research note on Wednesday, November 1st. Royal Bank of Canada reiterated an outperform rating and issued a $22.00 price target on shares of Pan American Silver in a research note on Tuesday, January 9th. Finally, Scotiabank set a $21.00 price target on shares of Pan American Silver and gave the stock a buy rating in a research note on Monday, January 8th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have issued a buy rating to the company. Pan American Silver currently has an average rating of Buy and an average price target of $21.23.
Pan American Silver (NASDAQ:PAAS) (TSE:PAAS) last announced its earnings results on Tuesday, February 20th. The basic materials company reported $0.13 EPS for the quarter, missing the Zacks’ consensus estimate of $0.19 by ($0.06). Pan American Silver had a net margin of 15.02% and a return on equity of 5.03%. The business had revenue of $226.03 million for the quarter, compared to the consensus estimate of $212.17 million. sell-side analysts forecast that Pan American Silver will post 0.83 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 16th. Shareholders of record on Monday, March 5th will be given a $0.035 dividend. This is a positive change from Pan American Silver’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend is Friday, March 2nd. This represents a $0.14 dividend on an annualized basis and a yield of 0.89%. Pan American Silver’s payout ratio is 17.72%.
Large investors have recently modified their holdings of the business. Cerebellum GP LLC purchased a new position in Pan American Silver in the 4th quarter worth about $126,000. SG Americas Securities LLC purchased a new position in Pan American Silver in the 4th quarter worth about $131,000. Alliancebernstein L.P. purchased a new position in Pan American Silver in the 2nd quarter worth about $170,000. Quantbot Technologies LP purchased a new position in Pan American Silver in the 3rd quarter worth about $177,000. Finally, Virtu Financial LLC purchased a new position in Pan American Silver in the 3rd quarter worth about $178,000. 51.56% of the stock is owned by institutional investors and hedge funds.
Pan American Silver Company Profile
Pan American Silver Corp. is a silver production company. The Company is principally engaged in the operation and development of, and exploration for, silver producing properties. The Company’s segments include Peru, Mexico, Argentina and Bolivia. The Company also produces and sells gold, zinc, lead and copper.
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