Scotiabank Comments on Pan American Silver Corp.’s Q2 2023 Earnings (NYSE:PAAS)

Posted by Logan Wallace on May 26th, 2023

Pan American Silver Corp. (NYSE:PAAS – Get Rating) (TSE:PAAS) – Analysts at Scotiabank dropped their Q2 2023 earnings per share estimates for shares of Pan American Silver in a research note issued to investors on Tuesday, May 23rd. Scotiabank analyst O. Habib now anticipates that the basic materials company will post earnings of $0.05 per share for the quarter, down from their previous estimate of $0.18. Scotiabank currently 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 FY2023 earnings at $0.29 EPS.

Pan American Silver (NYSE:PAAS – Get Rating) (TSE:PAAS) last released its quarterly earnings results on Thursday, February 23rd. The basic materials company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.04). The company 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 firm’s revenue was down 11.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.19 earnings per share.

A number of other research firms also recently issued reports on PAAS. National Bank Financial reissued an “outperform spec overweight” rating on shares of Pan American Silver in a report on Tuesday, February 28th. StockNews.com cut Pan American Silver from a “hold” rating to a “sell” rating in a research note on Tuesday. Finally, TD Securities lowered 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. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $25.50.

Pan American Silver Stock Down 2.3 %

PAAS opened at $14.98 on Friday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.87 and a current ratio of 2.11. The stock has a fifty day moving average of $17.36 and a 200-day moving average of $16.99. Pan American Silver has a fifty-two week low of $13.40 and a fifty-two week high of $24.21. The company has a market capitalization of $3.16 billion, a P/E ratio of -7.84 and a beta of 1.21.

Institutional Investors Weigh In On Pan American Silver

A number of large investors have recently modified their holdings of PAAS. Moneta Group Investment Advisors LLC boosted its stake in Pan American Silver by 94,294.9% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 35,309,364 shares of the basic materials company’s stock valued at $576,955,000 after buying an additional 35,271,958 shares in the last quarter. Van ECK Associates Corp lifted its stake in Pan American Silver by 13.6% in 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 purchasing an additional 2,965,528 shares during the last quarter. Two Sigma Investments LP boosted its position in Pan American Silver by 453.8% in the fourth quarter. Two Sigma Investments LP now owns 3,215,448 shares of the basic materials company’s stock valued at $52,540,000 after buying an additional 2,634,795 shares in the last quarter. Norges Bank bought a new stake in shares of Pan American Silver during the fourth quarter worth $35,988,000. Finally, Millennium Management LLC increased its holdings in shares of Pan American Silver by 1,104.8% during the fourth quarter. Millennium Management LLC now owns 2,049,031 shares of the basic materials company’s stock worth $33,481,000 after buying an additional 1,878,957 shares in the last quarter. Institutional investors and hedge funds own 44.11% of the company’s stock.

Pan American Silver Dividend Announcement

The firm also recently announced a None dividend, which was paid on Friday, May 12th. Shareholders of record on Friday, April 14th were paid a dividend of $0.10 per share. This represents a yield of 2.2%. The ex-dividend date was Thursday, April 13th. Pan American Silver’s payout ratio is presently -27.23%.

About Pan American Silver

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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.