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

Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) shares 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.

Analyst Ratings Changes

A number of research analysts have weighed in on PAAS shares. 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 report on Tuesday, September 10th. Jefferies Financial Group increased their price objective on shares of Pan American Silver from $21.00 to $23.00 and gave the stock a “hold” rating in a research note on Friday, October 4th. Finally, StockNews.com lowered shares of Pan American Silver from a “buy” rating to a “hold” rating in a research report on Sunday, December 1st. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Pan American Silver has an average rating of “Moderate Buy” and an average target price of $25.42.

Pan American Silver Trading Down 2.1 %

The stock has a 50 day moving average of $22.77 and a 200-day moving average of $21.59. The company 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.

Pan American Silver Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Monday, November 18th were paid a $0.10 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.80%. Pan American Silver’s dividend payout ratio (DPR) 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 PAAS. Eastern Bank purchased a new stake in shares of Pan American Silver during the third quarter worth about $28,000. Wilmington Savings Fund Society FSB purchased a new stake in Pan American Silver during the 3rd quarter valued at approximately $32,000. Mark Sheptoff Financial Planning LLC grew its holdings in Pan American Silver by 943.4% during the 2nd 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 in the last quarter. CWM LLC lifted 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 in the last quarter. Finally, US Bancorp DE boosted its position in shares of Pan American Silver by 13.4% during the third 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. 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.