Pan American Silver (NYSE:PAAS) Shares Gap Up – Should You Buy?

Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) shares gapped up prior to trading on Monday . The stock had previously closed at $21.41, but opened at $22.48. Pan American Silver shares last traded at $22.55, with a volume of 612,742 shares changing hands.

Analyst Ratings Changes

Several research analysts have weighed in on PAAS shares. Royal Bank of Canada increased 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, September 10th. Jefferies Financial Group lifted 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 upgraded shares of Pan American Silver from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $24.93.

Pan American Silver Trading Up 6.6 %

The firm’s 50 day simple moving average is $22.18 and its two-hundred day simple moving average is $21.31. The stock has a market capitalization of $8.29 billion, a P/E ratio of -125.94 and a beta of 1.33. 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 will be paid on Friday, November 29th. Investors of record on Monday, November 18th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.75%. The ex-dividend date is Monday, November 18th. Pan American Silver’s payout ratio is currently -235.29%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Tidal Investments LLC raised its holdings in shares of Pan American Silver by 15,618.3% in the 1st quarter. Tidal Investments LLC now owns 3,803,507 shares of the basic materials company’s stock worth $57,340,000 after acquiring an additional 3,779,309 shares during the last quarter. Van ECK Associates Corp raised its stake in shares of Pan American Silver by 6.3% in the third quarter. Van ECK Associates Corp now owns 39,512,808 shares of the basic materials company’s stock valued at $824,632,000 after buying an additional 2,328,306 shares during the period. Driehaus Capital Management LLC bought a new position in Pan American Silver during the second quarter worth about $38,116,000. FMR LLC grew its position in Pan American Silver by 1,834.8% during the third quarter. FMR LLC now owns 1,344,991 shares of the basic materials company’s stock worth $28,084,000 after buying an additional 1,275,475 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Pan American Silver by 366.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,601,137 shares of the basic materials company’s stock worth $31,831,000 after acquiring an additional 1,258,205 shares during the last quarter. Institutional investors and hedge funds 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.