Pan American Silver (NYSE:PAAS) Shares Gap Down to $21.58

Shares of Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) gapped down prior to trading on Thursday . The stock had previously closed at $21.58, but opened at $21.10. Pan American Silver shares last traded at $21.26, with a volume of 150,214 shares.

Analysts Set New Price Targets

PAAS has been the subject of several research reports. Scotiabank lifted their target price on shares of Pan American Silver from $23.00 to $26.00 and gave the company a “sector outperform” rating in a report on Tuesday, July 16th. CIBC boosted their price objective on Pan American Silver from $30.00 to $35.00 and gave the company an “outperformer” rating in a report on Wednesday, July 10th. StockNews.com raised Pan American Silver from a “sell” rating to a “hold” rating in a research note on Saturday, May 11th. Jefferies Financial Group lifted their target price on Pan American Silver from $19.00 to $22.00 and gave the company a “hold” rating in a research report on Friday, July 12th. Finally, BMO Capital Markets increased their price target on shares of Pan American Silver from $22.00 to $24.00 in a research report on Tuesday, May 21st. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Pan American Silver presently has a consensus rating of “Moderate Buy” and an average target price of $24.42.

Pan American Silver Price Performance

The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.92 and a current ratio of 2.06. The stock has a market capitalization of $7.58 billion, a price-to-earnings ratio of -46.91 and a beta of 1.31. The company has a 50 day moving average of $21.08 and a 200 day moving average of $18.40.

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 business’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.04 earnings per share. As a group, equities research analysts anticipate that Pan American Silver Corp. will post 0.65 EPS for the current year.

Pan American Silver Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Monday, August 19th will be issued a $0.10 dividend. The ex-dividend date is Monday, August 19th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.92%. Pan American Silver’s payout ratio is -86.96%.

Institutional Trading of Pan American Silver

A number of hedge funds and other institutional investors have recently bought and sold shares of PAAS. Van ECK Associates Corp increased its holdings in shares of Pan American Silver by 1.4% in the 1st quarter. Van ECK Associates Corp now owns 46,486,439 shares of the basic materials company’s stock valued at $701,016,000 after acquiring an additional 653,064 shares during the last quarter. Vanguard Group Inc. increased its stake in Pan American Silver by 1.2% in the first quarter. Vanguard Group Inc. now owns 13,225,480 shares of the basic materials company’s stock valued at $199,440,000 after purchasing an additional 159,908 shares during the last quarter. Norges Bank acquired a new stake in Pan American Silver during the fourth quarter worth approximately $63,066,000. Tidal Investments LLC lifted its position in shares of Pan American Silver by 15,618.3% during the 1st quarter. Tidal Investments LLC now owns 3,803,507 shares of the basic materials company’s stock worth $57,340,000 after buying an additional 3,779,309 shares during the last quarter. Finally, Mackenzie Financial Corp boosted its holdings in shares of Pan American Silver by 51.1% in the 2nd quarter. Mackenzie Financial Corp now owns 3,124,517 shares of the basic materials company’s stock valued at $62,107,000 after buying an additional 1,056,981 shares in the last quarter. 55.43% of the stock is currently owned by institutional investors and hedge funds.

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.