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

Shares of Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) gapped down prior to trading on Friday . The stock had previously closed at $21.45, but opened at $21.01. Pan American Silver shares last traded at $21.41, with a volume of 196,559 shares traded.

Wall Street Analyst Weigh In

PAAS has been the subject of a number of research reports. StockNews.com downgraded shares of Pan American Silver from a “buy” rating to a “hold” rating in a research report on Sunday, December 1st. Jefferies Financial Group raised their target price on Pan American Silver from $21.00 to $23.00 and gave the stock a “hold” rating in a research report on Friday, October 4th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Pan American Silver presently has an average rating of “Moderate Buy” and a consensus target price of $25.42.

Pan American Silver Price Performance

The firm has a market capitalization of $7.88 billion, a PE ratio of -127.62 and a beta of 1.27. The business’s 50 day moving average is $21.66 and its two-hundred day moving average is $21.65. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.96 and a current ratio of 2.06.

Pan American Silver Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Monday, November 18th were paid a $0.10 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $0.40 annualized dividend and a yield of 1.84%. Pan American Silver’s dividend payout ratio is currently -235.28%.

Institutional Investors Weigh In On Pan American Silver

Institutional investors and hedge funds have recently modified their holdings of the company. Van ECK Associates Corp increased its holdings in Pan American Silver by 6.3% during the 3rd quarter. Van ECK Associates Corp now owns 39,512,808 shares of the basic materials company’s stock worth $824,632,000 after acquiring an additional 2,328,306 shares during the period. Driehaus Capital Management LLC purchased a new stake in shares of Pan American Silver in the second quarter worth $38,116,000. FMR LLC boosted its stake 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 valued at $28,084,000 after buying an additional 1,275,475 shares during the period. Mackenzie Financial Corp increased its position in shares of Pan American Silver by 51.1% in the second quarter. Mackenzie Financial Corp now owns 3,124,517 shares of the basic materials company’s stock worth $62,107,000 after purchasing an additional 1,056,981 shares during the last quarter. Finally, Marlin Sams Capital Management LLC boosted its stake in shares of Pan American Silver by 89.2% in the 3rd quarter. Marlin Sams Capital Management LLC now owns 700,000 shares of the basic materials company’s stock valued at $14,609,000 after purchasing an additional 330,000 shares in the last quarter. 55.43% of the stock is owned by hedge funds and other institutional investors.

Pan American Silver Company Profile

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.