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

Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $55.39, but opened at $52.50. Pan American Silver shares last traded at $51.5870, with a volume of 2,820,497 shares changing hands.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on PAAS shares. Scotiabank increased their target price on Pan American Silver from $36.00 to $47.00 and gave the stock an “outperform” rating in a research report on Thursday, October 23rd. National Bank Financial upgraded shares of Pan American Silver to a “strong-buy” rating in a research report on Thursday, September 4th. Jefferies Financial Group reiterated a “hold” rating and issued a $50.00 price target on shares of Pan American Silver in a research note on Sunday, December 7th. Bank of America lifted their target price on Pan American Silver from $46.00 to $51.00 and gave the stock a “buy” rating in a report on Monday, December 1st. Finally, Wall Street Zen downgraded Pan American Silver from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 15th. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $44.33.

Pan American Silver Stock Down 5.2%

The business’s 50 day simple moving average is $42.05 and its 200 day simple moving average is $36.01. The company has a current ratio of 2.31, a quick ratio of 1.55 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $22.17 billion, a PE ratio of 30.36, a PEG ratio of 0.52 and a beta of 0.71.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last announced its quarterly earnings results on Wednesday, November 12th. The basic materials company reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.01). Pan American Silver had a net margin of 19.52% and a return on equity of 11.66%. The business had revenue of $854.60 million during the quarter, compared to the consensus estimate of $867.76 million. During the same period in the previous year, the business posted $0.32 EPS. The firm’s revenue was up 19.3% on a year-over-year basis. On average, equities research analysts forecast that Pan American Silver Corp. will post 1.26 earnings per share for the current year.

Pan American Silver Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 5th. Stockholders of record on Monday, November 24th were issued a $0.14 dividend. This is a positive change from Pan American Silver’s previous quarterly dividend of $0.12. The ex-dividend date was Monday, November 24th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.1%. Pan American Silver’s dividend payout ratio (DPR) is presently 32.37%.

Institutional Trading of Pan American Silver

A number of institutional investors have recently bought and sold shares of PAAS. Harvest Portfolios Group Inc. boosted its stake in Pan American Silver by 0.9% during the third quarter. Harvest Portfolios Group Inc. now owns 36,240 shares of the basic materials company’s stock worth $1,404,000 after buying an additional 318 shares during the period. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Pan American Silver by 18.1% in the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 2,373 shares of the basic materials company’s stock worth $92,000 after acquiring an additional 364 shares during the last quarter. Parallel Advisors LLC boosted its stake in shares of Pan American Silver by 151.8% during the 3rd quarter. Parallel Advisors LLC now owns 642 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 387 shares during the period. City State Bank grew its holdings in Pan American Silver by 74.4% during the 3rd quarter. City State Bank now owns 1,020 shares of the basic materials company’s stock valued at $40,000 after purchasing an additional 435 shares during the last quarter. Finally, Truist Financial Corp raised its position in Pan American Silver by 0.9% in the 3rd quarter. Truist Financial Corp now owns 50,796 shares of the basic materials company’s stock worth $1,967,000 after purchasing an additional 436 shares during the period. 55.43% of the stock is currently owned by institutional investors.

Pan American Silver Company Profile

Pan American Silver Corp. (NYSE: PAAS) is a Vancouver-based mining company and one of the world’s largest primary silver producers. The company’s core activities encompass the exploration, development, extraction and processing of silver, with significant by-product production of gold, zinc and lead. Pan American Silver maintains a vertically integrated operating model, covering the full mining value chain from resource discovery through to refined metal production.

With a geographic footprint concentrated across the Americas, Pan American Silver operates multiple mines in Mexico, Peru, Argentina and Bolivia, and is advancing several development and exploration projects in Chile and Ecuador.