Pan American Silver (NYSE:PAAS) Given New $30.00 Price Target at CIBC

Pan American Silver (NYSE:PAAS) (TSE:PAAS) had its price target upped by CIBC from $27.50 to $30.00 in a research note issued to investors on Wednesday, Marketbeat.com reports. CIBC currently has an outperform rating on the basic materials company’s stock.

PAAS has been the subject of a number of other reports. StockNews.com upgraded Pan American Silver from a sell rating to a hold rating in a report on Saturday, May 11th. Scotiabank upped their price objective on Pan American Silver from $19.50 to $20.00 and gave the stock a sector outperform rating in a research report on Monday, April 8th. TD Securities lowered their price objective on Pan American Silver from $18.50 to $17.50 and set a buy rating for the company in a research report on Friday, February 23rd. BMO Capital Markets upped their price objective on Pan American Silver from $22.00 to $24.00 in a research report on Tuesday. Finally, Jefferies Financial Group upped their price objective on Pan American Silver from $14.00 to $17.00 and gave the stock a hold rating in a research report on Monday, April 22nd. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Pan American Silver has a consensus rating of Moderate Buy and an average price target of $21.75.

Pan American Silver Price Performance

PAAS stock opened at $21.33 on Wednesday. The business has a fifty day moving average of $17.93 and a two-hundred day moving average of $15.63. The company has a quick ratio of 0.92, a current ratio of 2.11 and a debt-to-equity ratio of 0.16. The stock has a market cap of $7.74 billion, a price-to-earnings ratio of -46.37, a price-to-earnings-growth ratio of 2.85 and a beta of 1.36. Pan American Silver has a 52-week low of $12.16 and a 52-week high of $22.68.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last issued its quarterly earnings data on Wednesday, May 8th. The basic materials company reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.07. Pan American Silver had a positive return on equity of 0.13% and a negative net margin of 6.68%. The business had revenue of $601.40 million during the quarter, compared to analysts’ expectations of $592.58 million. During the same period in the previous year, the firm posted $0.10 earnings per share. The company’s revenue was up 54.1% on a year-over-year basis. As a group, research analysts anticipate that Pan American Silver will post 0.41 earnings per share for the current year.

Pan American Silver Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Tuesday, May 21st will be given a $0.10 dividend. The ex-dividend date is Monday, May 20th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.88%. Pan American Silver’s dividend payout ratio (DPR) is presently -86.96%.

Institutional Trading of Pan American Silver

Several institutional investors and hedge funds have recently added to or reduced their stakes in PAAS. Virtu Financial LLC purchased a new position in shares of Pan American Silver during the 1st quarter worth approximately $479,000. Bluefin Capital Management LLC purchased a new position in Pan American Silver in the 1st quarter valued at approximately $302,000. Tidal Investments LLC increased its stake in Pan American Silver by 15,618.3% in the 1st quarter. Tidal Investments LLC now owns 3,803,507 shares of the basic materials company’s stock valued at $57,340,000 after purchasing an additional 3,779,309 shares in the last quarter. Janus Henderson Group PLC increased its stake in Pan American Silver by 121.6% in the 1st quarter. Janus Henderson Group PLC now owns 45,279 shares of the basic materials company’s stock valued at $682,000 after purchasing an additional 24,847 shares in the last quarter. Finally, Perritt Capital Management Inc. increased its stake in Pan American Silver by 76.9% in the 1st quarter. Perritt Capital Management Inc. now owns 2,300 shares of the basic materials company’s stock valued at $35,000 after purchasing an additional 1,000 shares in the last quarter. 55.43% of the stock is owned by hedge funds and other institutional investors.

Pan American Silver Company Profile

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.