Pan American Silver (NYSE:PAAS) Shares Gap Down to $19.23

Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) shares gapped down before the market opened on Tuesday . The stock had previously closed at $19.23, but opened at $18.47. Pan American Silver shares last traded at $18.78, with a volume of 908,808 shares trading hands.

Wall Street Analysts Forecast Growth

PAAS has been the subject of a number of recent analyst reports. StockNews.com raised Pan American Silver from a “sell” rating to a “hold” rating in a report on Wednesday. CIBC decreased their price objective on shares of Pan American Silver from $28.00 to $27.50 and set an “outperform” rating for the company in a report on Wednesday, February 7th. BMO Capital Markets dropped their target price on Pan American Silver from $27.00 to $22.00 and set an “outperform” rating on the stock in a report on Thursday, January 18th. Scotiabank lifted their price target on Pan American Silver from $19.50 to $20.00 and gave the company a “sector outperform” rating in a research report on Monday, April 8th. Finally, TD Securities dropped their price target on shares of Pan American Silver from $18.50 to $17.50 and set a “buy” rating on the stock in a research report on Friday, February 23rd. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $21.00.

Pan American Silver Stock Performance

The company has a debt-to-equity ratio of 0.16, a current ratio of 2.23 and a quick ratio of 1.09. The business has a 50 day moving average price of $15.72 and a 200 day moving average price of $15.06.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last posted its quarterly earnings results on Thursday, February 22nd. The basic materials company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.08 by ($0.12). Pan American Silver had a negative net margin of 5.24% and a positive return on equity of 0.44%. The firm had revenue of $669.60 million during the quarter, compared to analyst estimates of $657.65 million. During the same period last year, the company earned ($0.02) EPS. Analysts anticipate that Pan American Silver Corp. will post 0.38 EPS for the current year.

Pan American Silver Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Monday, March 4th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 2.15%. The ex-dividend date of this dividend was Friday, March 1st. Pan American Silver’s dividend payout ratio is currently -133.33%.

Hedge Funds Weigh In On Pan American Silver

Several large investors have recently made changes to their positions in the company. Optiver Holding B.V. grew its position in shares of Pan American Silver by 90.8% in the 3rd quarter. Optiver Holding B.V. now owns 1,706 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 812 shares during the period. CVA Family Office LLC acquired a new stake in shares of Pan American Silver during the fourth quarter worth $46,000. Annis Gardner Whiting Capital Advisors LLC bought a new stake in Pan American Silver in the 3rd quarter valued at $46,000. Parkside Financial Bank & Trust boosted its stake in Pan American Silver by 455.9% in the 4th quarter. Parkside Financial Bank & Trust now owns 3,658 shares of the basic materials company’s stock worth $60,000 after purchasing an additional 3,000 shares during the period. Finally, Stonehage Fleming Financial Services Holdings Ltd bought a new position in Pan American Silver during the 4th quarter worth about $103,000. 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.