Pan American Silver (NYSE:PAAS) Shares Up 4.8% – Here’s Why

Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) shares shot up 4.8% during trading on Tuesday . The stock traded as high as $22.36 and last traded at $22.36. 884,902 shares traded hands during trading, a decline of 78% from the average session volume of 4,042,567 shares. The stock had previously closed at $21.34.

Analyst Upgrades and Downgrades

Several brokerages have commented on PAAS. Jefferies Financial Group increased their target price 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. Royal Bank of Canada increased their target price on Pan American Silver from $25.00 to $27.00 and gave the company an “outperform” rating in a research note on Tuesday, September 10th. Finally, StockNews.com downgraded Pan American Silver from a “buy” rating to a “hold” rating in a research note on Sunday. Two analysts have rated the stock with a hold rating and four have issued 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 an average price target of $25.42.

Pan American Silver Trading Up 0.0 %

The stock has a fifty day moving average of $22.56 and a 200 day moving average of $21.51. The company has a quick ratio of 0.96, a current ratio of 2.06 and a debt-to-equity ratio of 0.16.

Pan American Silver Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Monday, November 18th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $0.40 dividend on an annualized basis and a yield of 1.77%. Pan American Silver’s dividend payout ratio is presently -235.28%.

Institutional Investors Weigh In On Pan American Silver

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Wilmington Savings Fund Society FSB purchased a new position in Pan American Silver in the third quarter worth about $32,000. Sanctuary Advisors LLC purchased a new stake in Pan American Silver during the 3rd quarter valued at $257,000. Virtu Financial LLC lifted its position in Pan American Silver by 23.9% in the third quarter. Virtu Financial LLC now owns 36,873 shares of the basic materials company’s stock worth $770,000 after buying an additional 7,114 shares during the last quarter. Barclays PLC boosted its stake in Pan American Silver by 156.4% during the third quarter. Barclays PLC now owns 61,439 shares of the basic materials company’s stock worth $1,282,000 after buying an additional 37,480 shares during the period. Finally, Toronto Dominion Bank increased its position in Pan American Silver by 8.3% during the third quarter. Toronto Dominion Bank now owns 128,558 shares of the basic materials company’s stock valued at $2,683,000 after acquiring an additional 9,887 shares during the last quarter. 55.43% of the stock is owned by institutional investors.

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.