Pan American Silver (NYSE:PAAS) Shares Gap Up to $19.90

Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $19.90, but opened at $20.55. Pan American Silver shares last traded at $20.95, with a volume of 675,309 shares.

Wall Street Analysts Forecast Growth

Several research firms have commented on PAAS. Scotiabank boosted their price target on shares of Pan American Silver from $20.00 to $23.00 and gave the stock a “sector outperform” rating in a report on Thursday, May 23rd. BMO Capital Markets increased their target price on Pan American Silver from $22.00 to $24.00 in a report on Tuesday, May 21st. CIBC lifted their price target on Pan American Silver from $27.50 to $30.00 and gave the stock an “outperform” rating in a report on Wednesday, May 22nd. StockNews.com upgraded Pan American Silver from a “sell” rating to a “hold” rating in a report on Saturday, May 11th. Finally, Jefferies Financial Group boosted their target price on Pan American Silver from $14.00 to $17.00 and gave the stock a “hold” rating in a research note on Monday, April 22nd. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $22.25.

Pan American Silver Trading Up 5.1 %

The business has a 50 day moving average of $20.33 and a 200-day moving average of $16.87. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.92 and a current ratio of 2.11.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last announced its earnings results on Wednesday, May 8th. The basic materials company reported $0.01 EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.07. The business had revenue of $601.40 million for the quarter, compared to analysts’ expectations of $592.58 million. Pan American Silver had a negative net margin of 6.68% and a positive return on equity of 0.13%. The company’s quarterly revenue was up 54.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.10 EPS. On average, research analysts expect that Pan American Silver Corp. will post 0.52 EPS for the current fiscal year.

Pan American Silver Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Tuesday, May 21st were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Monday, May 20th. This represents a $0.40 annualized dividend and a dividend yield of 1.91%. Pan American Silver’s payout ratio is currently -86.96%.

Hedge Funds Weigh In On Pan American Silver

A number of large investors have recently made changes to their positions in PAAS. Van ECK Associates Corp grew its position in Pan American Silver by 1.4% during the first quarter. Van ECK Associates Corp now owns 46,486,439 shares of the basic materials company’s stock worth $701,016,000 after buying an additional 653,064 shares during the period. Vanguard Group Inc. grew its holdings in shares of Pan American Silver by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 13,225,480 shares of the basic materials company’s stock worth $199,440,000 after acquiring an additional 159,908 shares during the period. Norges Bank purchased a new position in Pan American Silver in the 4th quarter valued at approximately $63,066,000. Tidal Investments LLC raised its holdings in Pan American Silver by 15,618.3% during the first quarter. Tidal Investments LLC now owns 3,803,507 shares of the basic materials company’s stock worth $57,340,000 after purchasing an additional 3,779,309 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its position in Pan American Silver by 1.0% during the third quarter. Ameriprise Financial Inc. now owns 3,080,846 shares of the basic materials company’s stock worth $44,636,000 after purchasing an additional 31,618 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.