Pan American Silver Corp [NYSE: PAAS] stock went on a downward path that fall over -6.77% on Tuesday, amounting to a one-week price decrease of less than -8.10%. The company report on January 17, 2024 at 6:00 AM that Pan American Silver Announces Preliminary 2023 Production Results and Guidance for 2024.
All amounts are expressed in US$ unless otherwise indicated. Results are preliminary and unaudited and could be adjusted based on final results. This news release contains forward-looking information about expected future events and operating performance of Pan American Silver. Readers should refer to the risks and assumptions set out in the “Cautionary Note Regarding Forward-Looking Statements and Information” at the end of this news release.
Pan American Silver Corp. (NYSE: PAAS) (TSX: PAAS) (“Pan American”) announces its preliminary production results for 2023 and its guidance for 2024. The 2023 production results reflect the addition of four producing mines following Pan American’s acquisition of Yamana Gold Inc. (“Yamana”), which was completed on March 31, 2023; accordingly, annual consolidated production results and individual production results from Jacobina, El Peñon, Minera Florida and Cerro Moro (the “Acquired Operations”) reflect production from the Acquired Operations during the nine-month period from March 31, 2023 to December 31, 2023, unless otherwise expressly stated. Production for the original Pan American operations reflects the full 12-month period of 2023.
Over the last 12 months, PAAS stock dropped by -25.61%. The one-year Pan American Silver Corp stock forecast points to a potential upside of 40.66. The average equity rating for PAAS stock is currently 1.00, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $4.47 billion, with 364.44 million shares outstanding and 363.64 million shares in the current float. Compared to the average trading volume of 3.13M shares, PAAS stock reached a trading volume of 5328928 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on Pan American Silver Corp [PAAS]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for PAAS shares is $20.66 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on PAAS stock is a recommendation set at 1.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
BMO Capital Markets have made an estimate for Pan American Silver Corp shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on December 11, 2023.
The Average True Range (ATR) for Pan American Silver Corp is set at 0.49, with the Price to Sales ratio for PAAS stock in the period of the last 12 months amounting to 2.21. The Price to Book ratio for the last quarter was 0.92, with the Price to Cash per share for the same quarter was set at 1.06.
PAAS Stock Performance Analysis:
Pan American Silver Corp [PAAS] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -8.10. With this latest performance, PAAS shares dropped by -20.85% in over the last four-week period, additionally sinking by -22.31% over the last 6 months – not to mention a drop of -25.61% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for PAAS stock in for the last two-week period is set at 30.06, with the RSI for the last a single of trading hit 25.35, and the three-weeks RSI is set at 33.86 for Pan American Silver Corp [PAAS]. The present Moving Average for the last 50 days of trading for this stock 14.78, while it was recorded at 12.95 for the last single week of trading, and 15.24 for the last 200 days.
Insight into Pan American Silver Corp Fundamentals:
Pan American Silver Corp’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.20 and a Current Ratio set at 2.29.
PAAS Stock EPS
With the latest financial reports released by the company, Pan American Silver Corp posted -0.02/share EPS, while the average EPS was predicted by analysts to be reported at 0.04/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -150.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for PAAS.
Pan American Silver Corp [PAAS] Institutonal Ownership Details
The top three institutional holders of PAAS stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in PAAS stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in PAAS stock with ownership which is approximately 5.8325%.
