BlackRock Investment Management has recently announced that it has increased stake in Pan American Silver Corp. (NYSE:PAAS) by 4.98%. After grabbing 9.88 million shares, the institutional investor is now in possession of 0.47 million shares of the Basic Materials Company. The new investment brought the stake of investor firm to 2.71% having worth around $166.71 million. Moreover, The Vanguard Group, Inc. increased its share by 0.13 million to have a control over 9.23 million shares. And Fidelity Investments Canada ULC raised its holdings to 4.26 million shares by acquiring 8.81 million shares or 2.42% of the stake.
Pan American Silver Corp. (PAAS) concluded trading on 09/14/23 at a closing price of $16.21, with 2.34 million shares of worth about $37.98 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -3.40% during that period and on Thursday the price saw a gain of about 2.14%. Currently the company’s common shares owned by public are about 364.44M shares, out of which, 364.18M shares are available for trading.
A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 8 analysts are covering the PAAS stock and their offered price forecasts bring an average price target of $25.17. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $30.00 and could fall to a lowest price of $19.50. The stock’s current price level is 34.19% above of average price target set by the analysts, while a rise to estimated low would result in gain of 16.87% for the stock. However, touching the estimated high of $30.00 would mean a gain of 45.97% for the stock.
VanEck Gold Miners ETF, VanEck Junior Gold Miners ETF, and Global X Silver Miners ETF are the top 3 mutual funds which are holding stakes in Pan American Silver Corp. VanEck Gold Miners ETF is currently holding 19.33 million shares of worth totaling $326.26 million. The company recently came buying 7266.0 shares which brought its stake up to 5.30% of the company’s outstanding shares. Global X Silver Miners ETF, after buying 7.84 million shares, have now control over 2.15% of the stake in the company. It holds 0.0 shares of worth $132.34 million.
Pan American Silver Corp. (NYSE: PAAS) started trading at $15.93, above $0.06 from concluding price of the previous day. However, the stock later moved at a day high price of 16.42, or with a gain of 2.14%. Stock saw a price change of 5.67% in past 5 days and over the past one month there was a price change of 4.99%. Year-to-date (YTD), PAAS shares are showing a performance of -0.80% which increased to 2.27% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $13.40 but also hit the highest price of $19.84 during that period. The average intraday trading volume for Pan American Silver Corp. shares is 3.15 million. The stock is currently trading 2.73% above its 20-day simple moving average (SMA20), while that difference is up 3.13% for SMA50 and it goes to -1.82% lower than SMA200.
BlackRock Investment Management acquired 9.88 million shares of Pan American Silver Corp. having value of about $166.71 million. Data submitted at the U.S SEC by BlackRock Investment Management revealed that the firm now holds 0.47 million shares in the company valued at close to $7600139.55, or have control over 4.98% stake in the company. Pan American Silver Corp. (NYSE: PAAS) currently have 364.44M outstanding shares and institutions hold larger chunk of about 60.90% of that. Holding of mutual funds in the company is about 47.08% while other institutional holders and individual stake holders have control over 9.15% and — of the stake respectively.
The stock has a current market capitalization of $5.87B and its 3Y-monthly beta is at 1.22. It has posted earnings per share of -$1.21 in the same period. It has Quick Ratio of 1.10 while making debt-to-equity ratio of 0.23. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for PAAS, volatility over the week remained 2.36% while standing at 2.87% over the month.
Analysts are in expectations that Pan American Silver Corp. (PAAS) stock would likely to be making an EPS of $0.17 in the current quarter, while forecast for next quarter EPS is $0.19 and it is $0.98 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.06 which is $0.24 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$0.01 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -450.60% while it is estimated to increase by 108.26% in next year.
Analysts at 8 brokerage firms have issued recommendations for the Pan American Silver Corp. (PAAS)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.70. Out of those 8 Wall Street analysts, 8 recommended a “Buy” rating, while 0 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by RBC Capital Mkts on January 11, 2023 offering an Outperform rating for the stock and assigned a target price range of between $19 and $22 to it.