Pan American Silver Corp. (NYSE:PAAS) Short Interest Down 19.5% in May

Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) saw a significant drop in short interest in May. As of May 31st, there was short interest totalling 9,980,000 shares, a drop of 19.5% from the May 15th total of 12,400,000 shares. Based on an average trading volume of 5,230,000 shares, the short-interest ratio is currently 1.9 days.

Institutional Trading of Pan American Silver

A number of large investors have recently modified their holdings of the company. Vanguard Group Inc. raised its stake in Pan American Silver by 1.4% in the third quarter. Vanguard Group Inc. now owns 12,888,593 shares of the basic materials company’s stock worth $186,627,000 after buying an additional 183,681 shares in the last quarter. Ingalls & Snyder LLC raised its stake in Pan American Silver by 14.1% in the fourth quarter. Ingalls & Snyder LLC now owns 1,609,577 shares of the basic materials company’s stock worth $26,284,000 after buying an additional 199,479 shares in the last quarter. SG Americas Securities LLC bought a new position in Pan American Silver in the fourth quarter worth approximately $751,000. B. Riley Wealth Advisors Inc. raised its stake in Pan American Silver by 98.2% in the third quarter. B. Riley Wealth Advisors Inc. now owns 184,662 shares of the basic materials company’s stock worth $2,674,000 after buying an additional 91,488 shares in the last quarter. Finally, Norges Bank bought a new position in Pan American Silver in the fourth quarter worth approximately $63,066,000. Hedge funds and other institutional investors own 55.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on PAAS. Scotiabank lifted their price target on Pan American Silver from $20.00 to $23.00 and gave the stock a “sector outperform” rating in a research report on Thursday, May 23rd. CIBC lifted their price target on Pan American Silver from $27.50 to $30.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 22nd. StockNews.com upgraded Pan American Silver from a “sell” rating to a “hold” rating in a research report on Saturday, May 11th. TD Securities dropped their target price on Pan American Silver from $18.50 to $17.50 and set a “buy” rating for the company in a research report on Friday, February 23rd. Finally, BMO Capital Markets boosted their target price on Pan American Silver from $22.00 to $24.00 in a research report on Tuesday, May 21st. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.25.

Pan American Silver Trading Up 0.6 %

Shares of NYSE:PAAS traded up $0.12 during trading hours on Friday, hitting $19.89. 3,623,219 shares of the company’s stock traded hands, compared to its average volume of 4,752,913. Pan American Silver has a 1 year low of $12.16 and a 1 year high of $22.75. The business has a fifty day moving average price of $19.98 and a 200-day moving average price of $16.41. The firm has a market capitalization of $7.22 billion, a P/E ratio of -43.24 and a beta of 1.37. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.11 and a quick ratio of 0.92.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last announced its quarterly earnings results on Wednesday, May 8th. The basic materials company reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.07. The firm had revenue of $601.40 million during the quarter, compared to analyst estimates of $592.58 million. Pan American Silver had a positive return on equity of 0.13% and a negative net margin of 6.68%. Pan American Silver’s quarterly revenue was up 54.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.10 earnings per share. Equities analysts expect that Pan American Silver will post 0.41 earnings per share for the current year.

Pan American Silver Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Tuesday, May 21st were issued a $0.10 dividend. The ex-dividend date of this dividend was Monday, May 20th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.01%. Pan American Silver’s payout ratio is -86.96%.

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.