Pan American Silver Corp. (NASDAQ:PAAS) shares fell 2.6% during mid-day trading on Wednesday . The company traded as low as $20.18 and last traded at $20.41, with a volume of 1,413,709 shares changing hands. The stock had previously closed at $20.96.

A number of brokerages recently issued reports on PAAS. TD Securities reiterated a “hold” rating and issued a $23.00 price objective (up previously from $18.00) on shares of Pan American Silver Corp. in a report on Tuesday. Royal Bank Of Canada increased their target price on shares of Pan American Silver Corp. from $12.00 to $15.00 and gave the company a “sector perform” rating in a research report on Monday, June 13th. Sterne Agee CRT reissued a “neutral” rating on shares of Pan American Silver Corp. in a research report on Monday, May 16th. Zacks Investment Research downgraded shares of Pan American Silver Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday, May 17th. Finally, FBR & Co increased their target price on shares of Pan American Silver Corp. from $12.00 to $16.00 and gave the company a “market perform” rating in a research report on Monday, May 16th. Seven equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $15.39.

The firm’s market capitalization is $3.16 billion. The stock’s 50 day moving average is $18.89 and its 200-day moving average is $14.00.

Pan American Silver Corp. (NASDAQ:PAAS) last released its earnings results on Thursday, August 11th. The company reported $0.13 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.10. On average, analysts forecast that Pan American Silver Corp. will post $0.46 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 6th. Investors of record on Tuesday, August 23rd will be given a $0.0125 dividend. The ex-dividend date of this dividend is Friday, August 19th. This represents a $0.05 dividend on an annualized basis and a yield of 0.24%.

A number of hedge funds have recently added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. increased its stake in Pan American Silver Corp. by 122.6% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,429,357 shares of the company’s stock worth $28,730,000 after buying an additional 2,439,275 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Pan American Silver Corp. by 9.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 525,377 shares of the company’s stock worth $3,415,000 after buying an additional 45,051 shares during the last quarter. Finally, Bank of Montreal Can increased its stake in Pan American Silver Corp. by 98.3% in the fourth quarter. Bank of Montreal Can now owns 296,295 shares of the company’s stock worth $1,926,000 after buying an additional 146,866 shares during the last quarter.

Pan American Silver Corp. (Pan American) is engaged in the production and sale of silver, gold and base metals including copper, lead and zinc, as well as other related activities, including exploration, extraction, processing, refining and reclamation. The Company’s primary product (silver) is produced in Peru, Mexico, Argentina and Bolivia.

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