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

Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) shares gapped down prior to trading on Monday . The stock had previously closed at $22.58, but opened at $21.64. Pan American Silver shares last traded at $21.85, with a volume of 84,633 shares.

Analyst Ratings Changes

Several brokerages recently issued reports on PAAS. Jefferies Financial Group boosted their target price on shares of Pan American Silver from $21.00 to $23.00 and gave the company a “hold” rating in a research report on Friday, October 4th. StockNews.com upgraded Pan American Silver from a “hold” rating to a “buy” rating in a research note on Monday. Finally, Royal Bank of Canada raised their target price on Pan American Silver from $25.00 to $27.00 and gave the stock an “outperform” rating in a report on Tuesday, September 10th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $25.42.

Pan American Silver Stock Up 0.1 %

The company has a quick ratio of 0.96, a current ratio of 2.06 and a debt-to-equity ratio of 0.16. The firm’s fifty day moving average is $22.48 and its two-hundred day moving average is $21.46.

Pan American Silver Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Monday, November 18th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.84%. The ex-dividend date is Monday, November 18th. Pan American Silver’s dividend payout ratio (DPR) is presently -235.28%.

Hedge Funds Weigh In On Pan American Silver

Several hedge funds have recently modified their holdings of PAAS. CWM LLC lifted its position in shares of Pan American Silver by 31.6% in the second quarter. CWM LLC now owns 2,124 shares of the basic materials company’s stock worth $42,000 after buying an additional 510 shares in the last quarter. US Bancorp DE boosted its position in shares of Pan American Silver by 13.4% during the 3rd quarter. US Bancorp DE now owns 5,600 shares of the basic materials company’s stock valued at $117,000 after acquiring an additional 660 shares during the last quarter. Signaturefd LLC grew its holdings in shares of Pan American Silver by 11.6% in the second quarter. Signaturefd LLC now owns 7,469 shares of the basic materials company’s stock valued at $148,000 after purchasing an additional 774 shares in the last quarter. Advisors Asset Management Inc. increased its position in Pan American Silver by 3.7% in the third quarter. Advisors Asset Management Inc. now owns 26,751 shares of the basic materials company’s stock worth $558,000 after purchasing an additional 951 shares during the last quarter. Finally, Eastern Bank bought a new position in Pan American Silver during the third quarter valued at $28,000. 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.