Pan American Silver (NYSE:PAAS) Shares Down 3.5%

Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) shares traded down 3.5% during mid-day trading on Friday . The stock traded as low as $21.56 and last traded at $21.57. 1,250,353 shares changed hands during trading, a decline of 70% from the average session volume of 4,148,622 shares. The stock had previously closed at $22.35.

Analyst Ratings Changes

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

Pan American Silver Trading Down 3.8 %

The company has a debt-to-equity ratio of 0.16, a current ratio of 2.06 and a quick ratio of 0.92. The firm has a market capitalization of $7.80 billion, a PE ratio of -48.61 and a beta of 1.35. The business’s 50-day moving average price is $20.76 and its 200-day moving average price is $19.75.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last announced its earnings results on Wednesday, August 7th. The basic materials company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.04). The business had revenue of $686.30 million for the quarter, compared to analysts’ expectations 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 business’s revenue was up 7.3% on a year-over-year basis. During the same quarter last year, the business posted $0.04 earnings per share. As a group, analysts expect that Pan American Silver Corp. will post 0.61 earnings per share for the current fiscal year.

Pan American Silver Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Monday, August 19th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Monday, August 19th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.86%. Pan American Silver’s dividend payout ratio (DPR) is presently -86.96%.

Hedge Funds Weigh In On Pan American Silver

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. CWM LLC lifted its holdings in Pan American Silver by 31.6% in the second 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 period. Signaturefd LLC lifted its holdings in Pan American Silver by 11.6% in the second quarter. Signaturefd LLC now owns 7,469 shares of the basic materials company’s stock valued at $148,000 after acquiring an additional 774 shares during the period. Perritt Capital Management Inc. lifted its holdings in Pan American Silver by 76.9% in the first quarter. Perritt Capital Management Inc. now owns 2,300 shares of the basic materials company’s stock valued at $35,000 after acquiring an additional 1,000 shares during the period. Franklin Resources Inc. lifted its holdings in Pan American Silver by 0.5% in the fourth quarter. Franklin Resources Inc. now owns 238,839 shares of the basic materials company’s stock valued at $3,899,000 after acquiring an additional 1,169 shares during the period. Finally, SG Americas Securities LLC lifted its holdings in Pan American Silver by 2.9% in the first quarter. SG Americas Securities LLC now owns 47,330 shares of the basic materials company’s stock valued at $714,000 after acquiring an additional 1,336 shares during the period. 55.43% of the stock is currently owned by hedge funds and other institutional investors.

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.