Pan American Silver (NYSE:PAAS) Shares Gap Down – Should You Sell?

Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) gapped down prior to trading on Monday . The stock had previously closed at $22.64, but opened at $21.55. Pan American Silver shares last traded at $21.38, with a volume of 1,043,900 shares changing hands.

Wall Street Analyst Weigh In

Several research firms recently weighed in on PAAS. Jefferies Financial Group boosted their target price on Pan American Silver from $21.00 to $23.00 and gave the stock a “hold” rating in a research note on Friday, October 4th. Royal Bank of Canada boosted their target price on Pan American Silver from $25.00 to $27.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 10th. Scotiabank boosted their target price on 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, StockNews.com upgraded Pan American Silver from a “hold” rating to a “buy” rating in a research note on Tuesday. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $24.93.

Pan American Silver Stock Performance

The firm has a market cap of $7.99 billion, a price-to-earnings ratio of -129.41 and a beta of 1.33. The company has a quick ratio of 0.96, a current ratio of 2.06 and a debt-to-equity ratio of 0.16. The stock has a fifty day moving average price of $22.02 and a 200-day moving average price of $21.25.

Pan American Silver Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Monday, November 18th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date of this dividend is Monday, November 18th. Pan American Silver’s dividend payout ratio is presently -235.29%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of PAAS. Eastern Bank acquired a new stake in Pan American Silver in the third quarter valued at $28,000. Mark Sheptoff Financial Planning LLC grew its holdings in Pan American Silver by 943.4% in the second quarter. Mark Sheptoff Financial Planning LLC now owns 1,659 shares of the basic materials company’s stock valued at $33,000 after purchasing an additional 1,500 shares during the last quarter. Perritt Capital Management Inc. grew 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 purchasing an additional 1,000 shares during the last quarter. CWM LLC lifted its position in shares of 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 in the last quarter. Finally, UniSuper Management Pty Ltd lifted its position in shares of Pan American Silver by 73.3% in the first quarter. UniSuper Management Pty Ltd now owns 5,200 shares of the basic materials company’s stock valued at $78,000 after acquiring an additional 2,200 shares in the last quarter. Institutional investors and hedge funds own 55.43% of the company’s stock.

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.