Pan American Silver (NYSE:PAAS) Shares Gap Up – Here’s What Happened

Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) shares gapped up prior to trading on Tuesday . The stock had previously closed at $24.82, but opened at $25.36. Pan American Silver shares last traded at $25.60, with a volume of 1,167,636 shares.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Scotiabank upped their target price on Pan American Silver from $23.00 to $26.00 and gave the stock a “sector outperform” rating in a report on Tuesday, July 16th. Jefferies Financial Group upped their price target 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. CIBC raised 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 upped their target price on shares of Pan American Silver from $25.00 to $27.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 10th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $24.93.

Pan American Silver Price Performance

The firm has a fifty day moving average price of $21.03 and a two-hundred day moving average price of $20.70. The company has a quick ratio of 0.92, a current ratio of 2.06 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $9.28 billion, a P/E ratio of -55.50 and a beta of 1.35.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last issued its earnings results on Wednesday, August 7th. The basic materials company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.04). Pan American Silver had a positive return on equity of 0.66% and a negative net margin of 5.54%. The firm had revenue of $686.30 million during the quarter, compared to analysts’ expectations of $696.08 million. During the same period last year, the firm posted $0.04 earnings per share. The firm’s quarterly revenue was up 7.3% on a year-over-year basis. On average, analysts expect that Pan American Silver Corp. will post 0.64 EPS for the current year.

Pan American Silver Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Monday, August 19th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date was Monday, August 19th. Pan American Silver’s payout ratio is currently -86.96%.

Institutional Trading of Pan American Silver

A number of institutional investors have recently made changes to their positions in the stock. Eastern Bank purchased a new position in shares of Pan American Silver during the third quarter valued at approximately $28,000. Mark Sheptoff Financial Planning LLC boosted its stake in shares of Pan American Silver by 943.4% in the 2nd quarter. Mark Sheptoff Financial Planning LLC now owns 1,659 shares of the basic materials company’s stock worth $33,000 after buying an additional 1,500 shares during the last quarter. CWM LLC grew its holdings 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 worth $42,000 after acquiring an additional 510 shares during the period. Perritt Capital Management Inc. increased its position in Pan American Silver by 76.9% during 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 last quarter. Finally, UniSuper Management Pty Ltd lifted its holdings in 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 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.