Pan American Silver (NYSE:PAAS) Cut to “Hold” at TD Cowen

TD Cowen lowered shares of Pan American Silver (NYSE:PAAS) (TSE:PAAS) from a buy rating to a hold rating in a research note issued to investors on Monday, Marketbeat.com reports.

A number of other research analysts also recently issued reports on PAAS. Zacks Research upgraded shares of Pan American Silver from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 18th. Royal Bank Of Canada cut their price target on Pan American Silver from $65.00 to $56.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 16th. Wall Street Zen downgraded Pan American Silver from a “buy” rating to a “hold” rating in a research report on Saturday, August 15th. Scotiabank reiterated an “outperform” rating on shares of Pan American Silver in a research note on Tuesday, July 14th. Finally, BMO Capital Markets reissued a “market perform” rating on shares of Pan American Silver in a report on Thursday, August 13th. Five investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, Pan American Silver currently has an average rating of “Moderate Buy” and a consensus target price of $67.71.

Pan American Silver Stock Performance

PAAS opened at $39.36 on Monday. Pan American Silver has a 12-month low of $35.82 and a 12-month high of $69.99. The company has a current ratio of 2.72, a quick ratio of 2.03 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $16.23 billion, a PE ratio of 10.55, a P/E/G ratio of 4.48 and a beta of 0.76. The firm has a 50 day moving average of $45.24 and a two-hundred day moving average of $51.12.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last announced its quarterly earnings data on Wednesday, November 4th. The basic materials company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.66 by $0.03. The business had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Pan American Silver had a net margin of 35.18% and a return on equity of 20.94%. The business’s quarterly revenue was up 17.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.48 EPS. On average, analysts anticipate that Pan American Silver will post 3.34 EPS for the current year.

Pan American Silver Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 27th. Stockholders of record on Monday, November 16th will be paid a dividend of $0.1850 per share. This represents a $0.74 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Monday, November 16th. This is a positive change from Pan American Silver’s previous quarterly dividend of $0.1840. Pan American Silver’s dividend payout ratio is 19.84%.

Hedge Funds Weigh In On Pan American Silver

Several institutional investors have recently made changes to their positions in the company. Advisors Asset Management Inc. acquired a new position in shares of Pan American Silver in the third quarter worth about $195,000. Westpac Banking Corp purchased a new stake in shares of Pan American Silver during the 3rd quarter worth about $175,000. Private Advisor Group LLC boosted its stake in shares of Pan American Silver by 15.4% during the 3rd quarter. Private Advisor Group LLC now owns 30,686 shares of the basic materials company’s stock worth $1,396,000 after acquiring an additional 4,092 shares in the last quarter. Boston Partners grew its position in shares of Pan American Silver by 63.7% during the 3rd quarter. Boston Partners now owns 81,679 shares of the basic materials company’s stock valued at $3,717,000 after acquiring an additional 31,791 shares during the period. Finally, Voya Investment Management LLC grew its position in shares of Pan American Silver by 18.3% during the 3rd quarter. Voya Investment Management LLC now owns 6,851 shares of the basic materials company’s stock valued at $312,000 after acquiring an additional 1,061 shares during the period. 55.43% of the stock is owned by hedge funds and other institutional investors.

About Pan American Silver

Pan American Silver Corp. is a mining company focused on the exploration, development and operation of silver and gold mines. Its products also include by-products such as zinc, lead and copper, which are recovered during mining and processing. Founded in 1994 and headquartered in Vancouver, British Columbia, the company operates mines and holds exploration and development interests in Canada and Latin America. Its portfolio has expanded over time through acquisitions, including its 2023 acquisition of Yamana Gold’s Canadian assets and interests in several mines in Latin America.