Pan American Silver (NYSE:PAAS) Shares Gap Up – What’s Next?

Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) shares gapped up before the market opened on Wednesday . The stock had previously closed at $21.72, but opened at $22.73. Pan American Silver shares last traded at $22.65, with a volume of 1,257,783 shares.

Analyst Upgrades and Downgrades

PAAS has been the subject of several recent research reports. Royal Bank of Canada raised their price target on shares of Pan American Silver from $28.00 to $30.00 and gave the company an “outperform” rating in a research report on Tuesday, February 11th. StockNews.com lowered Pan American Silver from a “buy” rating to a “hold” rating in a report on Wednesday, April 2nd. TD Securities lowered Pan American Silver from a “buy” rating to a “hold” rating and reduced their price target for the company from $28.00 to $27.00 in a research report on Tuesday, March 11th. Scotiabank lifted their price objective on Pan American Silver from $28.00 to $28.50 and gave the company a “sector outperform” rating in a research note on Tuesday, February 25th. Finally, National Bankshares restated an “outperform” rating on shares of Pan American Silver in a research note on Wednesday, April 2nd. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Pan American Silver has a consensus rating of “Moderate Buy” and an average price target of $27.92.

Pan American Silver Stock Performance

The firm has a 50 day moving average of $24.75 and a two-hundred day moving average of $23.06. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.50 and a quick ratio of 0.96. The stock has a market cap of $9.37 billion, a PE ratio of 80.85 and a beta of 1.06.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last issued its quarterly earnings data on Wednesday, February 19th. The basic materials company reported $0.35 earnings per share for the quarter, hitting the consensus estimate of $0.35. Pan American Silver had a net margin of 3.98% and a return on equity of 6.14%. The business had revenue of $815.10 million during the quarter, compared to the consensus estimate of $805.20 million. Research analysts predict that Pan American Silver Corp. will post 1.26 EPS for the current fiscal year.

Pan American Silver Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, March 3rd were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.55%. The ex-dividend date was Monday, March 3rd. Pan American Silver’s payout ratio is 125.00%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in PAAS. Norges Bank purchased a new stake in Pan American Silver in the fourth quarter valued at approximately $91,916,000. Jupiter Asset Management Ltd. purchased a new stake in Pan American Silver in the 4th quarter valued at $24,083,000. Hsbc Holdings PLC boosted its stake in Pan American Silver by 661.2% during the 4th quarter. Hsbc Holdings PLC now owns 1,307,617 shares of the basic materials company’s stock worth $26,300,000 after purchasing an additional 1,135,839 shares during the period. Renaissance Technologies LLC grew its position in Pan American Silver by 110.0% during the 4th quarter. Renaissance Technologies LLC now owns 1,498,246 shares of the basic materials company’s stock worth $30,295,000 after purchasing an additional 784,906 shares during the last quarter. Finally, Man Group plc raised its holdings in shares of Pan American Silver by 381.7% in the fourth quarter. Man Group plc now owns 947,560 shares of the basic materials company’s stock valued at $19,160,000 after buying an additional 750,858 shares during 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. 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.