Pan American Silver (NYSE:PAAS) Issues Earnings Results

Pan American Silver (NYSE:PAAS) (TSE:PAAS) issued its quarterly earnings data on Wednesday. The basic materials company reported $1.11 EPS for the quarter, topping the consensus estimate of $0.90 by $0.21, Zacks reports. Pan American Silver had a return on equity of 11.66% and a net margin of 19.52%.

Pan American Silver Stock Performance

Shares of PAAS stock traded up $2.02 on Wednesday, reaching $58.11. The stock had a trading volume of 7,468,715 shares, compared to its average volume of 9,172,074. The company has a 50 day simple moving average of $55.34 and a 200 day simple moving average of $43.27. The stock has a market cap of $24.51 billion, a P/E ratio of 33.59, a price-to-earnings-growth ratio of 0.58 and a beta of 0.66. Pan American Silver has a 1 year low of $20.55 and a 1 year high of $69.99. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.55 and a current ratio of 2.31.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in PAAS. Invesco Ltd. increased its holdings in Pan American Silver by 9.8% in the 3rd quarter. Invesco Ltd. now owns 9,898,397 shares of the basic materials company’s stock worth $383,365,000 after acquiring an additional 882,135 shares in the last quarter. FIL Ltd lifted its holdings in Pan American Silver by 154.7% during the fourth quarter. FIL Ltd now owns 7,307,777 shares of the basic materials company’s stock valued at $378,872,000 after purchasing an additional 4,438,478 shares in the last quarter. Ameriprise Financial Inc. boosted its position in shares of Pan American Silver by 6.0% in the second quarter. Ameriprise Financial Inc. now owns 4,038,617 shares of the basic materials company’s stock worth $114,747,000 after purchasing an additional 226,933 shares during the period. Bank of America Corp DE increased its stake in shares of Pan American Silver by 148.3% in the second quarter. Bank of America Corp DE now owns 3,368,233 shares of the basic materials company’s stock worth $95,658,000 after purchasing an additional 2,011,862 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in shares of Pan American Silver by 24.0% in the fourth quarter. The Manufacturers Life Insurance Company now owns 2,937,145 shares of the basic materials company’s stock worth $152,430,000 after purchasing an additional 568,452 shares in the last quarter. 55.43% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on PAAS shares. Canadian Imperial Bank of Commerce set a $88.00 target price on Pan American Silver and gave the company an “outperform” rating in a research note on Wednesday, February 4th. Scotiabank upped their price target on shares of Pan American Silver from $47.00 to $64.00 and gave the stock an “outperform” rating in a report on Monday, January 26th. Wall Street Zen raised shares of Pan American Silver from a “hold” rating to a “buy” rating in a report on Saturday. Jefferies Financial Group cut their target price on Pan American Silver from $58.00 to $54.00 and set a “hold” rating for the company in a research note on Wednesday, January 21st. Finally, Zacks Research downgraded Pan American Silver from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 31st. Five research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $56.60.

Pan American Silver Company Profile

Pan American Silver Corp. (NYSE: PAAS) is a Vancouver-based mining company and one of the world’s largest primary silver producers. The company’s core activities encompass the exploration, development, extraction and processing of silver, with significant by-product production of gold, zinc and lead. Pan American Silver maintains a vertically integrated operating model, covering the full mining value chain from resource discovery through to refined metal production.

With a geographic footprint concentrated across the Americas, Pan American Silver operates multiple mines in Mexico, Peru, Argentina and Bolivia, and is advancing several development and exploration projects in Chile and Ecuador.