Pan American Silver Corp. (NASDAQ:PAAS – Get Rating) (TSE:PAAS) – Stock analysts at Edison Inv. Res cut their FY2023 earnings estimates for shares of Pan American Silver in a research note issued to investors on Wednesday, May 18th. Edison Inv. Res analyst A. Litvin now anticipates that the basic materials company will post earnings of $0.81 per share for the year, down from their previous estimate of $0.83.
Pan American Silver (NASDAQ:PAAS – Get Rating) (TSE:PAAS) last released its quarterly earnings data on Wednesday, May 11th. The basic materials company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.07). Pan American Silver had a net margin of 10.70% and a return on equity of 5.90%. During the same period in the prior year, the business posted $0.18 earnings per share.
Several other equities research analysts have also recently issued reports on the company. BMO Capital Markets cut their price target on Pan American Silver from $32.00 to $29.00 in a research note on Thursday, January 20th. Zacks Investment Research upgraded Pan American Silver from a “hold” rating to a “buy” rating and set a $27.00 price objective on the stock in a research report on Wednesday, May 4th. TheStreet upgraded shares of Pan American Silver from a “c+” rating to a “b-” rating in a report on Friday, March 25th. Canaccord Genuity Group raised Pan American Silver from a “hold” rating to a “buy” rating and set a $30.00 target price for the company in a research note on Thursday, May 12th. Finally, Canaccord Genuity Group upgraded shares of Pan American Silver from a “hold” rating to a “buy” rating and set a $30.00 target price on the stock in a research report on Thursday, May 12th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $34.43.
PAAS stock opened at $21.26 on Thursday. The company’s 50-day simple moving average is $26.48 and its 200 day simple moving average is $25.16. Pan American Silver has a 52 week low of $20.59 and a 52 week high of $34.70. The company has a market capitalization of $4.47 billion, a PE ratio of 24.72, a price-to-earnings-growth ratio of 3.03 and a beta of 1.25. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.41 and a current ratio of 2.71.
Large investors have recently modified their holdings of the business. Norges Bank purchased a new position in Pan American Silver during the 4th quarter valued at about $46,616,000. Van ECK Associates Corp increased its holdings in Pan American Silver by 7.1% during the 1st quarter. Van ECK Associates Corp now owns 22,401,326 shares of the basic materials company’s stock worth $611,556,000 after acquiring an additional 1,475,300 shares during the period. Renaissance Technologies LLC lifted its stake in Pan American Silver by 75.9% in the 1st quarter. Renaissance Technologies LLC now owns 2,002,804 shares of the basic materials company’s stock worth $54,681,000 after purchasing an additional 864,300 shares in the last quarter. Contrarius Investment Management Ltd bought a new position in Pan American Silver in the 1st quarter valued at $17,718,000. Finally, Millennium Management LLC grew its position in shares of Pan American Silver by 227.3% during the 3rd quarter. Millennium Management LLC now owns 908,979 shares of the basic materials company’s stock valued at $21,158,000 after purchasing an additional 631,255 shares in the last quarter. Hedge funds and other institutional investors own 44.25% of the company’s stock.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 3rd. Shareholders of record on Tuesday, May 24th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 2.26%. This is a positive change from Pan American Silver’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend is Monday, May 23rd. Pan American Silver’s dividend payout ratio is 55.81%.
Pan American Silver Company Profile (Get Rating)
Pan American Silver Corp., together with its subsidiaries, engages in the exploration, mine development, extraction, processing, refining, and reclamation of silver, gold, zinc, lead, and copper mines in Canada, Mexico, Peru, Argentina, and Bolivia. It holds interests in the La Colorada, Dolores, Huaron, Morococha, Shahuindo, La Arena, Timmins West, Bell Creek, Manantial Espejo, San Vicente, Joaquin, Cap-Oeste Sur Este, and Navidad mines.
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