Pan American Silver (NYSE:PAAS) Shares Gap Up – Here’s What Happened

Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $53.63, but opened at $57.51. Pan American Silver shares last traded at $56.3380, with a volume of 1,982,883 shares changing hands.

Analyst Ratings Changes

PAAS has been the subject of several analyst reports. Bank of America boosted their target price on shares of Pan American Silver from $46.00 to $51.00 and gave the company a “buy” rating in a research note on Monday, December 1st. Wall Street Zen upgraded shares of Pan American Silver from a “hold” rating to a “buy” rating in a report on Friday, January 23rd. Jefferies Financial Group reduced their price objective on shares of Pan American Silver from $58.00 to $54.00 and set a “hold” rating on the stock in a research note on Wednesday, January 21st. Zacks Research cut shares of Pan American Silver from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 31st. Finally, CIBC boosted their price target on Pan American Silver from $50.00 to $62.00 and gave the company an “outperformer” rating in a report on Friday, October 10th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, Pan American Silver presently has a consensus rating of “Moderate Buy” and an average price target of $47.83.

Pan American Silver Price Performance

The company’s 50-day moving average is $52.53 and its 200-day moving average is $41.07. The firm has a market capitalization of $23.43 billion, a price-to-earnings ratio of 32.33, a PEG ratio of 0.61 and a beta of 0.66. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.31 and a quick ratio of 1.55.

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

Pan American Silver Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 5th. Investors of record on Monday, November 24th were issued a $0.14 dividend. The ex-dividend date was Monday, November 24th. This is an increase from Pan American Silver’s previous quarterly dividend of $0.12. This represents a $0.56 dividend on an annualized basis and a yield of 1.0%. Pan American Silver’s payout ratio is 32.37%.

Hedge Funds Weigh In On Pan American Silver

Large investors have recently modified their holdings of the company. Parallel Advisors LLC raised its holdings in Pan American Silver by 151.8% in the third quarter. Parallel Advisors LLC now owns 642 shares of the basic materials company’s stock valued at $25,000 after buying an additional 387 shares during the period. Rothschild Investment LLC purchased a new stake in Pan American Silver during the 3rd quarter worth $36,000. City State Bank lifted its stake in shares of Pan American Silver by 74.4% in the third quarter. City State Bank now owns 1,020 shares of the basic materials company’s stock worth $40,000 after acquiring an additional 435 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Pan American Silver by 93.6% during the third quarter. EverSource Wealth Advisors LLC now owns 1,028 shares of the basic materials company’s stock worth $40,000 after buying an additional 497 shares in the last quarter. Finally, Laurel Wealth Advisors LLC acquired a new position in Pan American Silver during the 4th quarter worth $41,000. 55.43% of the stock is currently owned by hedge funds and other 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.