Scotiabank Research Analysts Lower Earnings Estimates for Pan American Silver Corp. (NYSE:PAAS)

Pan American Silver Corp. (NYSE:PAAS – Get Rating) (TSE:PAAS) – Equities researchers at Scotiabank dropped their Q3 2023 earnings per share estimates for shares of Pan American Silver in a research report issued to clients and investors on Tuesday, May 23rd. Scotiabank analyst O. Habib now anticipates that the basic materials company will post earnings of $0.06 per share for the quarter, down from their prior estimate of $0.13. Scotiabank has a “Outperform” rating on the stock. The consensus estimate for Pan American Silver’s current full-year earnings is $0.54 per share. Scotiabank also issued estimates for Pan American Silver’s Q4 2023 earnings at $0.13 EPS, Q1 2024 earnings at $0.22 EPS, Q2 2024 earnings at $0.22 EPS, Q3 2024 earnings at $0.22 EPS, Q4 2024 earnings at $0.16 EPS, FY2024 earnings at $0.83 EPS, Q1 2025 earnings at $0.14 EPS, FY2025 earnings at $0.59 EPS, FY2026 earnings at $0.86 EPS and FY2027 earnings at $1.02 EPS.

Several other research firms also recently commented on PAAS. National Bank Financial reiterated an “outperform spec overweight” rating on shares of Pan American Silver in a research note on Tuesday, February 28th. TD Securities dropped their price objective on Pan American Silver from $23.00 to $22.00 and set a “buy” rating on the stock in a research note on Friday, February 24th. Finally, StockNews.com downgraded Pan American Silver from a “hold” rating to a “sell” rating in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $25.50.

Pan American Silver Price Performance

Pan American Silver stock opened at $14.98 on Thursday. Pan American Silver has a 12 month low of $13.40 and a 12 month high of $24.21. The company has a current ratio of 2.11, a quick ratio of 0.87 and a debt-to-equity ratio of 0.09. The business’s 50 day simple moving average is $17.36 and its 200 day simple moving average is $16.99. The company has a market cap of $3.16 billion, a price-to-earnings ratio of -7.84 and a beta of 1.21.

Pan American Silver (NYSE:PAAS – Get Rating) (TSE:PAAS) last released its earnings results on Thursday, February 23rd. The basic materials company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.04). The business had revenue of $375.43 million during the quarter, compared to the consensus estimate of $409.65 million. Pan American Silver had a negative net margin of 22.82% and a positive return on equity of 0.74%. The business’s revenue was down 11.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.19 earnings per share.

Pan American Silver Dividend Announcement

The company also recently declared a None dividend, which was paid on Friday, May 12th. Investors of record on Friday, April 14th were given a dividend of $0.10 per share. This represents a dividend yield of 2.2%. The ex-dividend date was Thursday, April 13th. Pan American Silver’s dividend payout ratio (DPR) is currently -27.23%.

Institutional Investors Weigh In On Pan American Silver

A number of large investors have recently added to or reduced their stakes in PAAS. Moneta Group Investment Advisors LLC grew its position in Pan American Silver by 94,294.9% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 35,309,364 shares of the basic materials company’s stock worth $576,955,000 after purchasing an additional 35,271,958 shares during the period. Van ECK Associates Corp grew its position in shares of Pan American Silver by 13.6% during the 1st quarter. Van ECK Associates Corp now owns 24,829,558 shares of the basic materials company’s stock valued at $451,896,000 after acquiring an additional 2,965,528 shares during the period. Two Sigma Investments LP grew its position in shares of Pan American Silver by 453.8% during the 4th quarter. Two Sigma Investments LP now owns 3,215,448 shares of the basic materials company’s stock valued at $52,540,000 after acquiring an additional 2,634,795 shares during the period. Norges Bank bought a new stake in shares of Pan American Silver during the 4th quarter valued at $35,988,000. Finally, Millennium Management LLC grew its position in shares of Pan American Silver by 1,104.8% during the 4th quarter. Millennium Management LLC now owns 2,049,031 shares of the basic materials company’s stock valued at $33,481,000 after acquiring an additional 1,878,957 shares during the period. Institutional investors own 44.11% of the company’s stock.

Pan American Silver Company Profile

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Pan American Silver Corp. engages in the operation, development, and exploration of silver and gold producing properties and assets. It operates through the Silver and Gold segments. The company was founded by Ross J. Beaty and John H. Wright on March 17, 1979 and is headquartered in Vancouver, Canada.