CIBC Raises Pan American Silver (NYSE:PAAS) Price Target to $46.00

by · The Markets Daily

Pan American Silver (NYSE:PAAS – Free Report) (TSE:PAAS) had its target price upped by CIBC from $39.00 to $46.00 in a report issued on Tuesday morning,Benzinga reports. CIBC currently has an outperformer rating on the basic materials company’s stock.

Several other research firms also recently weighed in on PAAS. Wall Street Zen upgraded Pan American Silver from a “buy” rating to a “strong-buy” rating in a research report on Thursday, May 15th. BMO Capital Markets initiated coverage on Pan American Silver in a research report on Wednesday, April 16th. They set a “market perform” rating on the stock. National Bankshares reiterated an “outperform” rating on shares of Pan American Silver in a research report on Wednesday, April 2nd. Scotiabank reiterated a “sector perform” rating on shares of Pan American Silver in a research report on Monday, April 14th. Finally, TD Securities lowered their target price on Pan American Silver from $30.00 to $26.00 and set a “hold” rating on the stock in a research report on Thursday, May 22nd. Four equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $31.40.

Check Out Our Latest Analysis on PAAS

Pan American Silver Stock Performance

PAAS stock opened at $29.70 on Tuesday. The company has a market cap of $10.75 billion, a P/E ratio of 34.13, a price-to-earnings-growth ratio of 0.52 and a beta of 0.67. Pan American Silver has a 1 year low of $17.86 and a 1 year high of $31.03. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.93 and a quick ratio of 1.94. The stock’s fifty day moving average price is $27.00 and its 200-day moving average price is $25.11.

Pan American Silver (NYSE:PAAS – Get Free Report) (TSE:PAAS) last released its quarterly earnings results on Wednesday, May 7th. The basic materials company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.23. The firm had revenue of $773.20 million for the quarter, compared to the consensus estimate of $696.62 million. Pan American Silver had a return on equity of 9.25% and a net margin of 10.45%. The company’s revenue for the quarter was up 28.6% on a year-over-year basis. During the same period last year, the business posted $0.01 EPS. On average, equities analysts forecast that Pan American Silver will post 1.26 earnings per share for the current year.

Pan American Silver Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Tuesday, May 20th were given a $0.10 dividend. The ex-dividend date of this dividend was Tuesday, May 20th. This represents a $0.40 annualized dividend and a dividend yield of 1.35%. Pan American Silver’s payout ratio is 45.98%.

Hedge Funds Weigh In On Pan American Silver

Large investors have recently made changes to their positions in the business. Concurrent Investment Advisors LLC purchased a new stake in shares of Pan American Silver in the first quarter worth about $222,000. D.A. Davidson & CO. bought a new stake in Pan American Silver during the first quarter worth approximately $358,000. Renaissance Technologies LLC increased its stake in Pan American Silver by 110.0% during the fourth quarter. Renaissance Technologies LLC now owns 1,498,246 shares of the basic materials company’s stock worth $30,295,000 after acquiring an additional 784,906 shares during the last quarter. Credit Industriel ET Commercial bought a new stake in Pan American Silver during the fourth quarter worth approximately $8,537,000. Finally, Vanguard Group Inc. increased its stake in Pan American Silver by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 14,008,185 shares of the basic materials company’s stock worth $283,385,000 after acquiring an additional 221,561 shares during the last quarter. 55.43% of the stock is currently owned by hedge funds and other institutional investors.

Pan American Silver Company Profile

(Get Free Report)

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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