Stock Traders Purchase Large Volume of Call Options on Pan American Silver (NYSE:PAAS)

Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) was the target of some unusual options trading on Monday. Investors purchased 20,056 call options on the stock. This represents an increase of approximately 40% compared to the average daily volume of 14,360 call options.

Pan American Silver Stock Up 7.8%

Shares of NYSE:PAAS traded up $2.71 during midday trading on Monday, hitting $37.52. 4,579,512 shares of the company’s stock traded hands, compared to its average volume of 5,035,724. The company has a market cap of $15.83 billion, a PE ratio of 25.86, a P/E/G ratio of 0.44 and a beta of 0.63. The firm’s fifty day moving average price is $36.83 and its two-hundred day moving average price is $31.12. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.11 and a current ratio of 3.05. Pan American Silver has a twelve month low of $19.80 and a twelve month high of $42.57.

Institutional Trading of Pan American Silver

A number of institutional investors and hedge funds have recently made changes to their positions in PAAS. Concurrent Investment Advisors LLC acquired a new stake in shares of Pan American Silver in the 1st quarter worth about $222,000. Envestnet Asset Management Inc. raised its holdings in shares of Pan American Silver by 3.2% during the first quarter. Envestnet Asset Management Inc. now owns 33,916 shares of the basic materials company’s stock valued at $876,000 after buying an additional 1,054 shares during the last quarter. Alps Advisors Inc. acquired a new position in shares of Pan American Silver during the first quarter worth approximately $785,000. Oxbow Advisors LLC grew its holdings in Pan American Silver by 106.6% in the 1st quarter. Oxbow Advisors LLC now owns 335,110 shares of the basic materials company’s stock worth $8,656,000 after buying an additional 172,944 shares in the last quarter. Finally, MQS Management LLC acquired a new stake in Pan American Silver in the 1st quarter valued at approximately $433,000. 55.43% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on PAAS. Scotiabank boosted their price objective on shares of Pan American Silver from $36.00 to $47.00 and gave the company an “outperform” rating in a report on Thursday, October 23rd. National Bankshares reissued an “outperform” rating on shares of Pan American Silver in a report on Friday, September 5th. CIBC upped their price target on shares of Pan American Silver from $50.00 to $62.00 and gave the company an “outperformer” rating in a report on Friday, October 10th. Zacks Research downgraded Pan American Silver from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 19th. Finally, National Bank Financial upgraded Pan American Silver to a “strong-buy” rating in a research report on Thursday, September 4th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Pan American Silver presently has a consensus rating of “Moderate Buy” and an average price target of $41.25.

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.