Pan American Silver (NYSE:PAAS) Shares Gap Down – Time to Sell?

Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) gapped down before the market opened on Thursday . The stock had previously closed at $23.94, but opened at $23.00. Pan American Silver shares last traded at $23.23, with a volume of 684,888 shares.

Analysts Set New Price Targets

A number of equities research analysts have commented on PAAS shares. StockNews.com cut shares of Pan American Silver from a “buy” rating to a “hold” rating in a research note on Sunday, December 1st. Jefferies Financial Group increased their price objective on shares of Pan American Silver from $21.00 to $23.00 and gave the company a “hold” rating in a report on Friday, October 4th. Finally, Royal Bank of Canada increased their price objective on shares of Pan American Silver from $25.00 to $27.00 and gave the company an “outperform” rating in a report on Tuesday, September 10th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $25.42.

Pan American Silver Stock Performance

The business’s fifty day moving average is $22.73 and its two-hundred day moving average is $21.57. The company has a quick ratio of 0.96, a current ratio of 2.06 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $8.36 billion, a PE ratio of -137.11 and a beta of 1.28.

Pan American Silver Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Monday, November 18th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date of this dividend was Monday, November 18th. Pan American Silver’s dividend payout ratio (DPR) is presently -235.28%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Eastern Bank purchased a new position in Pan American Silver during the third quarter worth $28,000. Wilmington Savings Fund Society FSB purchased a new position in Pan American Silver during the third quarter worth $32,000. Mark Sheptoff Financial Planning LLC boosted its stake in Pan American Silver by 943.4% during the second quarter. Mark Sheptoff Financial Planning LLC now owns 1,659 shares of the basic materials company’s stock worth $33,000 after buying an additional 1,500 shares during the period. CWM LLC boosted its stake in Pan American Silver by 31.6% during the second quarter. CWM LLC now owns 2,124 shares of the basic materials company’s stock worth $42,000 after buying an additional 510 shares during the period. Finally, US Bancorp DE boosted its stake in Pan American Silver by 13.4% during the third quarter. US Bancorp DE now owns 5,600 shares of the basic materials company’s stock worth $117,000 after buying an additional 660 shares during the period. 55.43% of the stock is owned by hedge funds and other institutional investors.

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.