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 Monday . The stock had previously closed at $27.21, but opened at $25.05. Pan American Silver shares last traded at $23.12, with a volume of 4,234,914 shares traded.

Analysts Set New Price Targets

Several brokerages recently issued reports on PAAS. Scotiabank restated a “sector perform” rating on shares of Pan American Silver in a report on Monday, April 14th. CIBC raised their target price on shares of Pan American Silver from $38.00 to $42.00 and gave the stock an “outperformer” rating in a report on Thursday. TD Securities cut shares of Pan American Silver from a “buy” rating to a “hold” rating and dropped their price target for the stock from $28.00 to $27.00 in a research note on Tuesday, March 11th. National Bankshares reiterated an “outperform” rating on shares of Pan American Silver in a research note on Wednesday, April 2nd. Finally, StockNews.com cut shares of Pan American Silver from a “buy” rating to a “hold” rating in a research note on Wednesday, April 2nd. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $29.67.

Pan American Silver Stock Performance

The business’s fifty day moving average price is $25.31 and its two-hundred day moving average price is $23.55. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.96 and a current ratio of 2.50. The stock has a market capitalization of $8.30 billion, a P/E ratio of 71.58 and a beta of 0.75.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last released its quarterly earnings results on Wednesday, May 7th. The basic materials company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.23. Pan American Silver had a net margin of 3.98% and a return on equity of 6.14%. The firm had revenue of $773.20 million during the quarter, compared to analysts’ expectations of $696.62 million. During the same period in the previous year, the company earned $0.01 EPS. The firm’s revenue for the quarter was up 28.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Pan American Silver Corp. will post 1.26 earnings per share for the current year.

Pan American Silver Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Tuesday, May 20th will be given a $0.10 dividend. The ex-dividend date is Tuesday, May 20th. This represents a $0.40 annualized dividend and a yield of 1.75%. Pan American Silver’s dividend payout ratio (DPR) is 45.98%.

Institutional Investors Weigh In On Pan American Silver

Several large investors have recently added to or reduced their stakes in the stock. Signaturefd LLC boosted its position in Pan American Silver by 6.0% in the 4th quarter. Signaturefd LLC now owns 7,924 shares of the basic materials company’s stock valued at $160,000 after buying an additional 451 shares during the period. US Bancorp DE boosted its position in Pan American Silver by 9.6% in the 4th quarter. US Bancorp DE now owns 6,139 shares of the basic materials company’s stock valued at $124,000 after buying an additional 539 shares during the period. Jones Financial Companies Lllp lifted its position in shares of Pan American Silver by 23.4% in the 4th quarter. Jones Financial Companies Lllp now owns 2,892 shares of the basic materials company’s stock worth $58,000 after purchasing an additional 549 shares during the period. Principal Securities Inc. lifted its position in shares of Pan American Silver by 12.5% in the 4th quarter. Principal Securities Inc. now owns 5,977 shares of the basic materials company’s stock worth $121,000 after purchasing an additional 664 shares during the period. Finally, Evergreen Capital Management LLC lifted its position in shares of Pan American Silver by 2.4% in the 4th quarter. Evergreen Capital Management LLC now owns 30,203 shares of the basic materials company’s stock worth $611,000 after purchasing an additional 715 shares during the period. 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.