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

Shares of Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) gapped down prior to trading on Monday . The stock had previously closed at $55.39, but opened at $52.50. Pan American Silver shares last traded at $51.5870, with a volume of 2,820,497 shares.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Pan American Silver in a research report on Monday, December 22nd. Zacks Research raised Pan American Silver from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 25th. Jefferies Financial Group reiterated a “hold” rating and issued a $50.00 price objective on shares of Pan American Silver in a report on Sunday, December 7th. Bank of America raised their price objective on Pan American Silver from $46.00 to $51.00 and gave the company a “buy” rating in a research report on Monday, December 1st. Finally, National Bankshares reissued an “outperform” rating on shares of Pan American Silver in a research note on Friday, September 5th. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, Pan American Silver currently has a consensus rating of “Moderate Buy” and a consensus price target of $44.33.

Pan American Silver Price Performance

The firm has a 50-day moving average of $42.05 and a 200-day moving average of $36.01. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.55 and a current ratio of 2.31. The firm has a market capitalization of $22.17 billion, a P/E ratio of 30.36, a PEG ratio of 0.52 and a beta of 0.71.

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

Pan American Silver Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 5th. Investors of record on Monday, November 24th were given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 1.1%. This is a boost from Pan American Silver’s previous quarterly dividend of $0.12. The ex-dividend date was Monday, November 24th. Pan American Silver’s dividend payout ratio (DPR) is currently 32.37%.

Hedge Funds Weigh In On Pan American Silver

Institutional investors and hedge funds have recently made changes to their positions in the business. Parallel Advisors LLC grew its holdings in Pan American Silver by 151.8% during the third quarter. Parallel Advisors LLC now owns 642 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 387 shares during the period. Rothschild Investment LLC bought a new position in shares of Pan American Silver during the 3rd quarter valued at approximately $36,000. City State Bank raised its stake in Pan American Silver by 74.4% during the 3rd 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 during the period. EverSource Wealth Advisors LLC lifted its holdings in 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 valued at $40,000 after purchasing an additional 497 shares in the last quarter. Finally, Assetmark Inc. lifted its holdings in Pan American Silver by 3,111.4% during the third quarter. Assetmark Inc. now owns 1,124 shares of the basic materials company’s stock valued at $44,000 after purchasing an additional 1,089 shares in the last quarter. Hedge funds and other institutional investors own 55.43% of the company’s stock.

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.