Market cap of Pan American Silver Corp [PAAS] reaches 5.76B – now what?

Pan American Silver Corp [NYSE: PAAS] jumped around 0.54 points on Tuesday, while shares priced at $15.79 at the close of the session, up 3.54%. The company report on March 4, 2024 at 6:55 AM that Pan American Silver Announces Normal Course Issuer Bid.

Pan American Silver Corp. (NYSE: PAAS) (TSX: PAAS) (“Pan American” or the “Company”) today announced that the Toronto Stock Exchange (the “TSX”) has accepted the Company’s notice of its intention to make a normal course issuer bid (the “Bid”) to purchase up to 18,232,990 of its common shares, representing up to 5% of Pan American’s issued and outstanding shares as at February 29, 2024. Purchases pursuant to the Bid will be made on the open market through the facilities of the TSX and the New York Stock Exchange (“NYSE”) and alternative trading systems in Canada and the United States. The period of the Bid will begin on March 6, 2024 and will continue until March 5, 2025 or an earlier date should the Company complete its purchases.

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Pan American will pay the market price at the time of acquisition of any common shares in accordance with the rules and policies of the TSX and NYSE and applicable securities laws. All common shares acquired by the Company under the Bid will be cancelled and purchases will be funded out of Pan American’s working capital. Although the Company has a present intention to acquire its common shares pursuant to the Bid, it is not obligated to make any purchases, and the actual number of common shares to be purchased, and the timing of any purchases, will be at the Company’s discretion.

Compared to the average trading volume of 3.54M shares, PAAS reached a trading volume of 7411199 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about 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 $19.55 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 1.22. 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.

Jefferies have made an estimate for Pan American Silver Corp shares, keeping their opinion on the stock as Hold, with their previous recommendation back on February 29, 2024. While these analysts kept the previous recommendation, BMO Capital Markets raised their target price to Outperform. The new note on the price target was released on December 11, 2023, representing the official price target for Pan American Silver Corp stock. Previously, the target price had yet another raise from $19 to $22, while RBC Capital Mkts kept a Outperform rating on PAAS stock.

The Average True Range (ATR) for Pan American Silver Corp is set at 0.51, with the Price to Sales ratio for PAAS stock in the period of the last 12 months amounting to 2.49. The Price to Book ratio for the last quarter was 1.21, with the Price to Cash per share for the same quarter was set at 1.21. Price to Free Cash Flow for PAAS in the course of the last twelve months was 81.60 with Quick ratio for the last quarter at 1.09.

How has PAAS stock performed recently?

Pan American Silver Corp [PAAS] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 12.22. With this latest performance, PAAS shares gained by 22.50% in over the last four-week period, additionally plugging by 9.05% over the last 6 months – not to mention a drop of -14.00% 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 69.83, with the RSI for the last a single of trading hit 76.10, and the three-weeks RSI is set at 64.83 for Pan American Silver Corp [PAAS]. The present Moving Average for the last 50 days of trading for this stock 13.58, while it was recorded at 14.92 for the last single week of trading, and 14.81 for the last 200 days.

Pan American Silver Corp [PAAS]: Deeper insight into the fundamentals

Pan American Silver Corp’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.09 and a Current Ratio set at 2.23.

Earnings analysis for Pan American Silver Corp [PAAS]

With the latest financial reports released by the company, Pan American Silver Corp posted 0.1/share EPS, while the average EPS was predicted by analysts to be reported at 0.03/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 233.30%. 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.

Insider trade positions for Pan American Silver Corp [PAAS]

The top three institutional holders of PAAS stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in PAAS stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in PAAS stock with ownership which is approximately 5.8386%.