Pan American Silver (NYSE:PAAS) Shares Gap Up to $20.87

Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) shares gapped up prior to trading on Tuesday . The stock had previously closed at $20.87, but opened at $21.31. Pan American Silver shares last traded at $21.35, with a volume of 146,226 shares trading hands.

Wall Street Analysts Forecast Growth

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

Pan American Silver Stock Up 2.3 %

The business’s fifty day simple moving average is $20.70 and its 200 day simple moving average is $19.93. The stock has a market cap of $7.75 billion, a price-to-earnings ratio of -45.37 and a beta of 1.35. The company has a current ratio of 2.06, a quick ratio of 0.92 and a debt-to-equity ratio of 0.16.

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 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 for the quarter was up 7.3% on a year-over-year basis. During the same period last year, the firm earned $0.04 earnings per share. Equities analysts forecast that Pan American Silver Corp. will post 0.61 earnings per share for the current fiscal year.

Pan American Silver Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Monday, August 19th were paid a $0.10 dividend. The ex-dividend date was Monday, August 19th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.87%. Pan American Silver’s dividend payout ratio (DPR) is presently -86.96%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. SCP Investment LP bought a new stake in Pan American Silver in the fourth quarter valued at approximately $307,000. Brown Brothers Harriman & Co. grew its holdings in shares of Pan American Silver by 446.4% in the 4th quarter. Brown Brothers Harriman & Co. now owns 8,781 shares of the basic materials company’s stock valued at $143,000 after buying an additional 7,174 shares during the period. Campbell & CO Investment Adviser LLC acquired a new position in shares of Pan American Silver in the 4th quarter valued at $527,000. The Manufacturers Life Insurance Company increased its position in shares of Pan American Silver by 71.3% in the 4th quarter. The Manufacturers Life Insurance Company now owns 1,889,808 shares of the basic materials company’s stock valued at $30,899,000 after buying an additional 786,525 shares in the last quarter. Finally, CIBC Asset Management Inc raised its stake in Pan American Silver by 2.1% during the 4th quarter. CIBC Asset Management Inc now owns 492,009 shares of the basic materials company’s stock worth $8,057,000 after buying an additional 10,013 shares during the period. 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.