Jefferies Financial Group Raises Pan American Silver (NYSE:PAAS) Price Target to $23.00

Pan American Silver (NYSE:PAAS) (TSE:PAAS) had its price objective lifted by Jefferies Financial Group from $21.00 to $23.00 in a research report sent to investors on Friday morning, Benzinga reports. Jefferies Financial Group currently has a hold rating on the basic materials company’s stock.

Several other research analysts have also weighed in on PAAS. CIBC increased their price objective on Pan American Silver from $30.00 to $35.00 and gave the stock an outperformer rating in a research report on Wednesday, July 10th. Royal Bank of Canada raised their price objective on Pan American Silver from $25.00 to $27.00 and gave the stock an outperform rating in a research report on Tuesday, September 10th. Finally, Scotiabank increased their target price on shares of Pan American Silver from $23.00 to $26.00 and gave the stock a sector outperform rating in a research note on Tuesday, July 16th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of Moderate Buy and an average target price of $24.93.

Pan American Silver Stock Up 0.7 %

NYSE PAAS opened at $21.51 on Friday. Pan American Silver has a one year low of $12.16 and a one year high of $24.27. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.92 and a current ratio of 2.06. The business has a fifty day moving average price of $20.65 and a 200 day moving average price of $20.09. The company has a market cap of $7.81 billion, a P/E ratio of -46.76 and a beta of 1.35.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last issued its earnings results on Wednesday, August 7th. The basic materials company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.04). The company had revenue of $686.30 million during the quarter, compared to analysts’ expectations of $696.08 million. Pan American Silver had a negative net margin of 5.54% and a positive return on equity of 0.66%. The firm’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.04 earnings per share. Research analysts anticipate that Pan American Silver will post 0.62 EPS for the current fiscal year.

Pan American Silver Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Monday, August 19th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.86%. The ex-dividend date was Monday, August 19th. Pan American Silver’s payout ratio is -86.96%.

Institutional Trading of Pan American Silver

Several hedge funds have recently modified their holdings of PAAS. Foundry Partners LLC boosted its stake in shares of Pan American Silver by 11.6% in the 1st quarter. Foundry Partners LLC now owns 247,676 shares of the basic materials company’s stock valued at $3,735,000 after buying an additional 25,835 shares during the period. Lighthouse Investment Partners LLC purchased a new stake in shares of Pan American Silver in the 2nd quarter valued at approximately $990,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Pan American Silver in the 2nd quarter valued at $963,000. Cetera Investment Advisers acquired a new position in shares of Pan American Silver during the first quarter worth $1,565,000. Finally, Gamco Investors INC. ET AL acquired a new position in shares of Pan American Silver during the first quarter worth $421,000. 55.43% of the stock is currently owned by institutional investors and hedge funds.

About Pan American Silver

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.