Pan American Silver (NYSE:PAAS) Trading 9.1% Higher – Should You Buy?

Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) shares shot up 9.1% during trading on Monday . The stock traded as high as $24.33 and last traded at $24.19. 1,631,996 shares traded hands during trading, a decline of 59% from the average session volume of 4,020,900 shares. The stock had previously closed at $22.17.

Analyst Ratings Changes

Several brokerages have weighed in on PAAS. Jefferies Financial Group upped their target price on Pan American Silver from $21.00 to $23.00 and gave the stock a “hold” rating in a report on Friday, October 4th. StockNews.com cut Pan American Silver from a “buy” rating to a “hold” rating in a research report on Sunday, December 1st. Finally, Royal Bank of Canada upped their target price on Pan American Silver from $25.00 to $27.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 10th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $25.42.

Pan American Silver Price Performance

The firm has a market capitalization of $8.59 billion, a P/E ratio of -141.99 and a beta of 1.28. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.96 and a current ratio of 2.06. The business has a fifty day moving average of $22.60 and a 200-day moving average of $21.52.

Pan American Silver Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Monday, November 18th were paid a dividend of $0.10 per share. The ex-dividend date was Monday, November 18th. This represents a $0.40 annualized dividend and a yield of 1.69%. Pan American Silver’s payout ratio is -235.28%.

Institutional Investors Weigh In On Pan American Silver

A number of institutional investors have recently added to or reduced their stakes in PAAS. Eastern Bank bought a new stake in shares of Pan American Silver in the 3rd quarter valued at about $28,000. Wilmington Savings Fund Society FSB acquired a new stake in Pan American Silver in the third quarter valued at about $32,000. Mark Sheptoff Financial Planning LLC increased its holdings in shares of Pan American Silver by 943.4% during the second quarter. Mark Sheptoff Financial Planning LLC now owns 1,659 shares of the basic materials company’s stock worth $33,000 after buying an additional 1,500 shares in the last quarter. CWM LLC lifted its stake in shares of Pan American Silver by 31.6% in the 2nd quarter. CWM LLC now owns 2,124 shares of the basic materials company’s stock valued at $42,000 after acquiring an additional 510 shares during the last quarter. Finally, US Bancorp DE lifted its holdings in shares of Pan American Silver by 13.4% during the third quarter. US Bancorp DE now owns 5,600 shares of the basic materials company’s stock worth $117,000 after purchasing an additional 660 shares during the period. 55.43% of the stock is owned by institutional investors and hedge funds.

About Pan American Silver

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.