Pan American Silver (NYSE:PAAS) Hits New 52-Week High – Time to Buy?

Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) hit a new 52-week high on Wednesday . The company traded as high as $27.47 and last traded at $26.61, with a volume of 4717198 shares changing hands. The stock had previously closed at $26.70.

Wall Street Analysts Forecast Growth

PAAS has been the subject of a number of analyst reports. TD Securities downgraded shares of Pan American Silver from a “buy” rating to a “hold” rating and decreased their target price for the company from $28.00 to $27.00 in a research note on Tuesday, March 11th. Scotiabank raised their price target on shares of Pan American Silver from $28.00 to $28.50 and gave the company a “sector outperform” rating in a research report on Tuesday, February 25th. StockNews.com downgraded shares of Pan American Silver from a “buy” rating to a “hold” rating in a research report on Sunday, December 1st. Finally, Royal Bank of Canada raised their price target on shares of Pan American Silver from $28.00 to $30.00 and gave the company an “outperform” rating in a research report on Tuesday, February 11th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Pan American Silver has a consensus rating of “Hold” and an average target price of $27.92.

Pan American Silver Stock Down 0.4 %

The company has a debt-to-equity ratio of 0.16, a current ratio of 2.50 and a quick ratio of 0.96. The company’s 50-day moving average is $23.69 and its two-hundred day moving average is $22.48. The company has a market cap of $9.64 billion, a P/E ratio of 83.15 and a beta of 1.25.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last issued its earnings results on Wednesday, February 19th. The basic materials company reported $0.35 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.35. Pan American Silver had a net margin of 3.98% and a return on equity of 6.14%. The company had revenue of $815.10 million for the quarter, compared to analysts’ expectations of $805.20 million. As a group, equities analysts predict that Pan American Silver Corp. will post 1.26 earnings per share for the current fiscal year.

Pan American Silver Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, March 3rd were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.50%. The ex-dividend date of this dividend was Monday, March 3rd. Pan American Silver’s dividend payout ratio is currently 125.00%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of PAAS. Norges Bank purchased a new position in shares of Pan American Silver during the 4th quarter worth $91,916,000. FMR LLC boosted its stake in shares of Pan American Silver by 1,834.8% during the 3rd quarter. FMR LLC now owns 1,344,991 shares of the basic materials company’s stock worth $28,084,000 after acquiring an additional 1,275,475 shares during the last quarter. Jupiter Asset Management Ltd. purchased a new position in shares of Pan American Silver during the 4th quarter worth $24,083,000. Hsbc Holdings PLC boosted its stake in shares of Pan American Silver by 661.2% during the 4th quarter. Hsbc Holdings PLC now owns 1,307,617 shares of the basic materials company’s stock worth $26,300,000 after acquiring an additional 1,135,839 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its stake in shares of Pan American Silver by 110.0% during the 4th 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. Hedge funds and other institutional investors own 55.43% of the company’s stock.

Pan American Silver Company Profile

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.