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

Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $23.94, but opened at $23.00. Pan American Silver shares last traded at $23.23, with a volume of 684,888 shares traded.

Wall Street Analysts Forecast Growth

PAAS has been the subject of a number of research reports. Jefferies Financial Group increased their price target on Pan American Silver from $21.00 to $23.00 and gave the company a “hold” rating in a research note on Friday, October 4th. StockNews.com downgraded Pan American Silver from a “buy” rating to a “hold” rating in a research report on Sunday, December 1st. Finally, Royal Bank of Canada boosted their price target 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 four have issued a buy rating to the company. According to MarketBeat, Pan American Silver has an average rating of “Moderate Buy” and an average target price of $25.42.

Pan American Silver Price Performance

The firm has a market capitalization of $8.06 billion, a P/E ratio of -130.58 and a beta of 1.28. The company has a current ratio of 2.06, a quick ratio of 0.96 and a debt-to-equity ratio of 0.16. The firm has a 50 day moving average price of $22.77 and a 200-day moving average price of $21.59.

Pan American Silver Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Monday, November 18th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.80%. The ex-dividend date was Monday, November 18th. Pan American Silver’s payout ratio is -235.28%.

Institutional Investors Weigh In On Pan American Silver

Hedge funds and other institutional investors have recently made changes to their positions in the company. Eastern Bank purchased a new position in shares of Pan American Silver during the 3rd quarter worth about $28,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Pan American Silver during the third quarter valued at approximately $32,000. Mark Sheptoff Financial Planning LLC grew its stake in shares of Pan American Silver by 943.4% during 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 buying an additional 1,500 shares during the last quarter. CWM LLC raised 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 buying an additional 510 shares during the period. Finally, US Bancorp DE lifted its stake in shares of Pan American Silver by 13.4% during the 3rd quarter. US Bancorp DE now owns 5,600 shares of the basic materials company’s stock worth $117,000 after acquiring an additional 660 shares during the last quarter. Hedge funds and other 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.