Pan American Silver Corp [NYSE: PAAS] surged by $0.54 during the normal trading session on while it closed the day at $18.07. The company report on April 8, 2024 at 1:00 AM that Pan American Silver reports additional high-grade drill results from the La Colorada Skarn project.
Pan American Silver Corp. (NYSE: PAAS) (TSX: PAAS) (“Pan American” or the “Company”) releases results from the ongoing infill and geotechnical drill program at its La Colorada Skarn project in Zacatecas, Mexico (the “La Colorada Skarn”). Eight new drill holes totaling 8,101 metres returned additional wide intercepts from the 902 mineralized zone of the western part of the La Colorada Skarn. Drill hole U-121-22 returned the highest-grade interval to date with 22.50 metres at 1,435 g/t Ag, 31.93% Pb and 20.49% Zn.
“The 902 zone at the La Colorada Skarn continues to return long intercepts in multiple drill holes, with the most recent drill holes returning some of the highest grade intercepts since we discovered the La Colorada Skarn in 2018. Hole U-121-22 contains the highest silver grade intercept in the Skarn, to date, of 22 metres averaging 1,435 g/t Ag, 31.9% Pb and 20.5% Zn within a broader interval of 78 metres of 568 g/t Ag, 12.5% Pb and 9.6% Zn,” said Christopher Emerson, Pan American’s Vice President of Exploration and Geology. “Exploration drilling continues to define the La Colorada Skarn mineral resource, and we look forward to presenting an updated mineral resource estimate in August 2024.”.
Pan American Silver Corp stock has also gained 18.49% of its value over the past 7 days. However, PAAS stock has inclined by 16.73% in the 3 months of the year. Over the past six months meanwhile, it has gained 30.66% and gained 10.66% year-on date.
The market cap for PAAS stock reached $6.59 billion, with 364.66 million shares outstanding and 363.83 million shares in the current float. Compared to the average trading volume of 3.89M shares, PAAS reached a trading volume of 8960743 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to 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 $20.02 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 0.61, with the Price to Sales ratio for PAAS stock in the period of the last 12 months amounting to 2.85. The Price to Book ratio for the last quarter was 1.38, 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 93.39 with Quick ratio for the last quarter at 1.09.
PAAS stock trade performance evaluation
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 18.49. With this latest performance, PAAS shares gained by 28.98% in over the last four-week period, additionally plugging by 30.66% over the last 6 months – not to mention a drop of -4.84% 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 79.29, with the RSI for the last a single of trading hit 85.08, and the three-weeks RSI is set at 73.88 for Pan American Silver Corp [PAAS]. The present Moving Average for the last 50 days of trading for this stock 13.86, while it was recorded at 16.99 for the last single week of trading, and 14.86 for the last 200 days.
Pan American Silver Corp [PAAS]: An insightful look at the core 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 per share (EPS) analysis for Pan American Silver Corp [PAAS] stock
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.
Pan American Silver Corp [PAAS]: Institutional Ownership
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%.
