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

Shares of Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) gapped up prior to trading on Tuesday . The stock had previously closed at $53.63, but opened at $57.51. Pan American Silver shares last traded at $56.3380, with a volume of 1,982,883 shares trading hands.

Analyst Ratings Changes

A number of research firms have issued reports on PAAS. Scotiabank increased their target price on shares of Pan American Silver from $47.00 to $64.00 and gave the stock an “outperform” rating in a report on Monday, January 26th. Weiss Ratings reiterated a “buy (b)” rating on shares of Pan American Silver in a research note on Monday, December 29th. Zacks Research lowered Pan American Silver from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 31st. Jefferies Financial Group lowered their target price on Pan American Silver from $58.00 to $54.00 and set a “hold” rating for the company in a research note on Wednesday, January 21st. Finally, Bank of America increased their price target 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. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $47.83.

Pan American Silver Price Performance

The stock has a fifty day simple moving average of $52.53 and a 200-day simple moving average of $41.07. The company has a market capitalization of $23.43 billion, a PE ratio of 32.33, a P/E/G ratio of 0.61 and a beta of 0.66. The company has a current ratio of 2.31, a quick ratio of 1.55 and a debt-to-equity ratio of 0.12.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last issued 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 business had revenue of $854.60 million for the quarter, compared to analyst estimates of $867.76 million. Pan American Silver had a return on equity of 11.66% and a net margin of 19.52%.Pan American Silver’s revenue was up 19.3% on a year-over-year basis. During the same period last year, the business posted $0.32 EPS. Equities analysts anticipate that Pan American Silver Corp. will post 1.26 earnings per share for the current year.

Pan American Silver Increases Dividend

The company also recently declared 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. The ex-dividend date was Monday, November 24th. This represents a $0.56 dividend on an annualized basis and a yield of 1.0%. This is a boost from Pan American Silver’s previous quarterly dividend of $0.12. Pan American Silver’s dividend payout ratio (DPR) is 32.37%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Van ECK Associates Corp grew its stake in shares of Pan American Silver by 51.8% in the 3rd quarter. Van ECK Associates Corp now owns 45,142,060 shares of the basic materials company’s stock valued at $1,748,355,000 after purchasing an additional 15,405,762 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in Pan American Silver by 5,674.3% during the second quarter. Arrowstreet Capital Limited Partnership now owns 6,141,108 shares of the basic materials company’s stock worth $174,406,000 after buying an additional 6,034,755 shares in the last quarter. Norges Bank purchased a new stake in shares of Pan American Silver during the 2nd quarter worth approximately $155,281,000. First Eagle Investment Management LLC purchased a new stake in Pan American Silver during the third quarter worth $178,004,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Pan American Silver by 38.7% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,462,912 shares of the basic materials company’s stock worth $560,149,000 after buying an additional 4,037,311 shares in the last quarter. 55.43% of the stock is owned by hedge funds and other institutional investors.

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.