Pan American Silver (PAAS) Outpaces Stock Market Gains: What You Should Know
Pan American Silver (PAAS) closed the most recent trading day at $17.26, moving +0.82% from the previous trading session. This change outpaced the S&P 500's 0.09% gain on the day. Elsewhere, the Dow gained 0.2%, while the tech-heavy Nasdaq lost 4.87%.
Coming into today, shares of the silver mining company had lost 4.94% in the past month. In that same time, the Basic Materials sector gained 1.87%, while the S&P 500 gained 3.31%.
Pan American Silver will be looking to display strength as it nears its next earnings release, which is expected to be May 10, 2023. On that day, Pan American Silver is projected to report earnings of $0.05 per share, which would represent a year-over-year decline of 66.67%. Meanwhile, our latest consensus estimate is calling for revenue of $368.43 million, down 16.24% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $0.74 per share and revenue of $2.37 billion, which would represent changes of +722.22% and +58.43%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Pan American Silver. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 9.49% higher. Pan American Silver currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Pan American Silver currently has a Forward P/E ratio of 23.09. Its industry sports an average Forward P/E of 23.09, so we one might conclude that Pan American Silver is trading at a no noticeable deviation comparatively.
The Mining - Silver industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 72, putting it in the top 29% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Pan American Silver Corp. (PAAS) : Free Stock Analysis Report
