Pan American Silver (NYSE:PAAS) Shares Gap Up to $19.29

Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $19.29, but opened at $19.78. Pan American Silver shares last traded at $20.07, with a volume of 582,236 shares.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Scotiabank raised their price target on shares of Pan American Silver from $23.00 to $26.00 and gave the company a “sector outperform” rating in a research report on Tuesday, July 16th. Jefferies Financial Group decreased their target price on Pan American Silver from $22.00 to $21.00 and set a “hold” rating for the company in a report on Friday. CIBC boosted their target price on Pan American Silver from $30.00 to $35.00 and gave the stock an “outperformer” rating in a research note on Wednesday, July 10th. BMO Capital Markets lifted their price objective on Pan American Silver from $22.00 to $24.00 in a research note on Tuesday, May 21st. Finally, Royal Bank of Canada boosted their price objective on Pan American Silver from $25.00 to $27.00 and gave the stock an “outperform” rating in a research report on Tuesday. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $24.64.

Pan American Silver Stock Up 3.4 %

The firm’s 50 day simple moving average is $21.06 and its 200-day simple moving average is $19.23. The company has a market cap of $7.70 billion, a price-to-earnings ratio of -46.09 and a beta of 1.35. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.06 and a quick ratio of 0.92.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last announced its earnings results on Wednesday, August 7th. The basic materials company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.04). The firm had revenue of $686.30 million during the quarter, compared to analyst estimates of $696.08 million. Pan American Silver had a negative net margin of 5.54% and a positive return on equity of 0.66%. The firm’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period last year, the company earned $0.04 earnings per share. As a group, sell-side analysts anticipate that Pan American Silver Corp. will post 0.59 earnings per share for the current year.

Pan American Silver Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Monday, August 19th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Monday, August 19th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.89%. Pan American Silver’s dividend payout ratio (DPR) is presently -86.96%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. CWM LLC raised its stake in Pan American Silver by 31.6% during the 2nd quarter. CWM LLC now owns 2,124 shares of the basic materials company’s stock valued at $42,000 after acquiring an additional 510 shares during the last quarter. Signaturefd LLC lifted its stake in shares of Pan American Silver by 11.6% in the 2nd quarter. Signaturefd LLC now owns 7,469 shares of the basic materials company’s stock worth $148,000 after acquiring an additional 774 shares during the period. Perritt Capital Management Inc. boosted its holdings in shares of Pan American Silver by 76.9% in 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 in the last quarter. Franklin Resources Inc. increased its stake in shares of Pan American Silver by 0.5% during the fourth quarter. Franklin Resources Inc. now owns 238,839 shares of the basic materials company’s stock worth $3,899,000 after acquiring an additional 1,169 shares during the period. Finally, SG Americas Securities LLC raised its holdings in Pan American Silver by 2.9% during the first quarter. SG Americas Securities LLC now owns 47,330 shares of the basic materials company’s stock worth $714,000 after purchasing an additional 1,336 shares in the last quarter. 55.43% of the stock is currently owned by institutional investors and hedge funds.

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.