Pan American Silver (NYSE:PAAS) Shares Gap Up to $20.42

Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) gapped up before the market opened on Thursday . The stock had previously closed at $20.42, but opened at $21.57. Pan American Silver shares last traded at $21.02, with a volume of 738,873 shares trading hands.

Analysts Set New Price Targets

A number of research analysts have recently commented on PAAS shares. Scotiabank raised their target price on Pan American Silver from $23.00 to $26.00 and gave the company a “sector outperform” rating in a research note on Tuesday, July 16th. Royal Bank of Canada upped their price objective on shares of Pan American Silver from $25.00 to $27.00 and gave the stock an “outperform” rating in a report on Tuesday, September 10th. Jefferies Financial Group lowered their target price on shares of Pan American Silver from $22.00 to $21.00 and set a “hold” rating for the company in a report on Friday, September 13th. Finally, CIBC upped their price target on Pan American Silver from $30.00 to $35.00 and gave the stock an “outperformer” rating in a research note on Wednesday, July 10th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $24.64.

Pan American Silver Trading Up 3.4 %

The company has a current ratio of 2.06, a quick ratio of 0.92 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $7.67 billion, a P/E ratio of -44.41 and a beta of 1.35. The stock has a 50 day moving average of $21.04 and a 200-day moving average of $19.45.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last announced its quarterly earnings data on Wednesday, August 7th. The basic materials company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.04). Pan American Silver had a negative net margin of 5.54% and a positive return on equity of 0.66%. The firm had revenue of $686.30 million for the quarter, compared to the consensus estimate of $696.08 million. During the same quarter in the previous year, the business earned $0.04 earnings per share. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. On average, research 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. Investors of record on Monday, August 19th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.89%. The ex-dividend date of this dividend was Monday, August 19th. Pan American Silver’s dividend payout ratio is currently -86.96%.

Institutional Trading of Pan American Silver

Several hedge funds have recently bought and sold shares of PAAS. SCP Investment LP bought a new stake in shares of Pan American Silver in the 4th quarter valued at approximately $307,000. BNP Paribas Financial Markets lifted its position in 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 worth $2,400,000 after buying an additional 72,607 shares during the last quarter. Jump Financial LLC purchased a new position in Pan American Silver during the fourth quarter worth $235,000. Dimensional Fund Advisors LP increased its position in Pan American Silver by 5.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,139,812 shares of the basic materials company’s stock valued at $34,944,000 after acquiring an additional 111,089 shares during the last quarter. Finally, Avantax Advisory Services Inc. raised its stake in shares of Pan American Silver by 20.0% in the fourth quarter. Avantax Advisory Services Inc. now owns 13,776 shares of the basic materials company’s stock valued at $225,000 after acquiring an additional 2,293 shares during the period. 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.