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

Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) gapped down prior to trading on Friday . The stock had previously closed at $63.29, but opened at $55.12. Pan American Silver shares last traded at $58.3230, with a volume of 3,320,603 shares.

Analyst Ratings Changes

A number of equities analysts have recently commented on PAAS shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Pan American Silver in a research report on Monday, December 29th. CIBC raised their price objective on Pan American Silver from $50.00 to $62.00 and gave the stock an “outperformer” rating in a report on Friday, October 10th. Scotiabank lifted their target price on Pan American Silver from $47.00 to $64.00 and gave the company an “outperform” rating in a research report on Monday. Jefferies Financial Group dropped their price target on Pan American Silver from $58.00 to $54.00 and set a “hold” rating on the stock in a research report on Wednesday, January 21st. Finally, Wall Street Zen upgraded Pan American Silver from a “hold” rating to a “buy” rating in a report on Friday, January 23rd. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $47.83.

Pan American Silver Stock Performance

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 stock has a market cap of $24.06 billion, a PE ratio of 33.13, a P/E/G ratio of 0.72 and a beta of 0.67. The business’s 50-day moving average price is $51.88 and its 200-day moving average price is $40.56.

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

Pan American Silver Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 5th. Investors of record on Monday, November 24th were paid a dividend of $0.14 per share. 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 annualized dividend and a yield of 1.0%. Pan American Silver’s dividend payout ratio (DPR) is presently 32.37%.

Institutional Investors Weigh In On Pan American Silver

Several institutional investors have recently added to or reduced their stakes in PAAS. Wealthfront Advisers LLC increased its holdings in shares of Pan American Silver by 79.1% during the fourth quarter. Wealthfront Advisers LLC now owns 9,909 shares of the basic materials company’s stock valued at $513,000 after acquiring an additional 4,376 shares in the last quarter. Pictet Asset Management Holding SA increased its stake in Pan American Silver by 27.2% during the 4th quarter. Pictet Asset Management Holding SA now owns 211,920 shares of the basic materials company’s stock valued at $11,002,000 after purchasing an additional 45,381 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Pan American Silver by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 17,465,779 shares of the basic materials company’s stock worth $905,513,000 after buying an additional 274,168 shares during the last quarter. Veracity Capital LLC raised its holdings in shares of Pan American Silver by 1.9% in the fourth quarter. Veracity Capital LLC now owns 9,868 shares of the basic materials company’s stock worth $511,000 after buying an additional 185 shares during the last quarter. Finally, Concurrent Investment Advisors LLC lifted its stake in shares of Pan American Silver by 130.1% during the fourth quarter. Concurrent Investment Advisors LLC now owns 20,335 shares of the basic materials company’s stock worth $1,054,000 after buying an additional 11,496 shares during the period. Institutional investors and hedge funds own 55.43% of the company’s stock.

About Pan American Silver

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.