Pan American Silver (NYSE:PAAS) Shares Gap Up to $19.29

Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) gapped up before the market opened on Thursday . The stock had previously closed at $19.29, but opened at $19.78. Pan American Silver shares last traded at $20.07, with a volume of 582,236 shares traded.

Analyst Ratings Changes

A number of brokerages have recently issued reports on PAAS. Jefferies Financial Group upped their price target on Pan American Silver from $19.00 to $22.00 and gave the stock a “hold” rating in a research report on Friday, July 12th. CIBC upped their target price on Pan American Silver from $30.00 to $35.00 and gave the company an “outperformer” rating in a research report on Wednesday, July 10th. BMO Capital Markets increased their price target on Pan American Silver from $22.00 to $24.00 in a research report on Tuesday, May 21st. Royal Bank of Canada raised their target price on Pan American Silver from $25.00 to $27.00 and gave the stock an “outperform” rating in a report on Tuesday. Finally, Scotiabank lifted their target price on shares of Pan American Silver from $23.00 to $26.00 and gave the company a “sector outperform” rating in a report on Tuesday, July 16th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $24.79.

Pan American Silver Stock Performance

The stock has a 50 day simple moving average of $21.07 and a two-hundred day simple moving average of $19.16. The company has a market cap of $7.47 billion, a PE ratio of -44.07 and a beta of 1.35. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.06 and a quick ratio of 0.92.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last posted its quarterly earnings data on Wednesday, August 7th. The basic materials company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.04). The company had revenue of $686.30 million for the quarter, compared to analyst estimates of $696.08 million. Pan American Silver had a positive return on equity of 0.66% and a negative net margin of 5.54%. The firm’s revenue was up 7.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.04 earnings per share. Equities analysts predict that Pan American Silver Corp. will post 0.59 EPS for the current year.

Pan American Silver Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Monday, August 19th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date of this dividend was Monday, August 19th. Pan American Silver’s dividend payout ratio (DPR) is -86.96%.

Hedge Funds Weigh In On Pan American Silver

Large investors have recently made changes to their positions in the stock. Foundry Partners LLC boosted its stake in shares of Pan American Silver by 11.6% during the 1st quarter. Foundry Partners LLC now owns 247,676 shares of the basic materials company’s stock worth $3,735,000 after acquiring an additional 25,835 shares in the last quarter. Cetera Investment Advisers purchased a new position in shares of Pan American Silver in the 1st quarter worth $1,565,000. Norges Bank purchased a new stake in Pan American Silver during the fourth quarter worth approximately $63,066,000. Gamco Investors INC. ET AL acquired a new stake in Pan American Silver in the 1st quarter valued at $421,000. Finally, BNP Paribas Financial Markets grew its stake in shares of Pan American Silver by 97.7% in the fourth quarter. BNP Paribas Financial Markets now owns 146,950 shares of the basic materials company’s stock valued at $2,400,000 after buying an additional 72,607 shares in the last quarter. Hedge funds and other institutional investors own 55.43% of the company’s stock.

Pan American Silver Company Profile

Pan American Silver Corp. engages in the exploration, mine development, extraction, processing, refining, and reclamation of silver, gold, zinc, lead, and copper mines in Canada, Mexico, Peru, Bolivia, Argentina, Chile, and Brazil. The company was formerly known as Pan American Minerals Corp. and changed its name to Pan American Silver Corp.