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

Shares of Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) gapped up before the market opened 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 brokerages have recently weighed in on PAAS. Scotiabank boosted their price objective 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. Jefferies Financial Group cut their target price 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 raised their price target 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 price objective 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. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.64.

Pan American Silver Trading Up 2.3 %

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 firm has a market capitalization of $7.75 billion, a price-to-earnings ratio of -45.37 and a beta of 1.35. The business has a 50-day moving average of $20.70 and a two-hundred day moving average of $19.93.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last announced its quarterly earnings data on Wednesday, August 7th. The basic materials company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.04). The firm 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%. Pan American Silver’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.04 EPS. Research analysts predict that Pan American Silver Corp. will post 0.61 EPS for the current fiscal year.

Pan American Silver Dividend Announcement

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PAAS. SCP Investment LP acquired a new position in Pan American Silver during the fourth quarter worth $307,000. Brown Brothers Harriman & Co. lifted its holdings in Pan American Silver by 446.4% during the 4th quarter. Brown Brothers Harriman & Co. now owns 8,781 shares of the basic materials company’s stock valued at $143,000 after purchasing an additional 7,174 shares during the last quarter. Campbell & CO Investment Adviser LLC acquired a new position in Pan American Silver in the fourth quarter valued at about $527,000. The Manufacturers Life Insurance Company grew its stake in Pan American Silver by 71.3% during the fourth quarter. The Manufacturers Life Insurance Company now owns 1,889,808 shares of the basic materials company’s stock worth $30,899,000 after buying an additional 786,525 shares during the last quarter. Finally, CIBC Asset Management Inc grew its stake in Pan American Silver by 2.1% during the fourth 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 last quarter. Institutional investors 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.