Pan American Silver (NYSE:PAAS) Shares Up 4.8% – Here’s Why

Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS)’s share price traded up 4.8% on Tuesday . The stock traded as high as $22.36 and last traded at $22.36. 884,902 shares traded hands during mid-day trading, a decline of 78% from the average session volume of 4,042,567 shares. The stock had previously closed at $21.34.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Royal Bank of Canada raised their target price on shares of Pan American Silver from $25.00 to $27.00 and gave the stock an “outperform” rating in a report on Tuesday, September 10th. StockNews.com downgraded Pan American Silver from a “buy” rating to a “hold” rating in a research note on Sunday. Finally, Jefferies Financial Group lifted their target price on Pan American Silver from $21.00 to $23.00 and gave the company a “hold” rating in a research report on Friday, October 4th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $25.42.

Pan American Silver Price Performance

The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.96 and a current ratio of 2.06. The firm has a market capitalization of $8.27 billion, a P/E ratio of -133.70 and a beta of 1.28. The business has a fifty day moving average of $22.56 and a 200-day moving average of $21.51.

Pan American Silver Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Monday, November 18th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date was Monday, November 18th. Pan American Silver’s dividend payout ratio is -235.28%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. CWM LLC increased its stake in Pan American Silver by 31.6% in the second quarter. CWM LLC now owns 2,124 shares of the basic materials company’s stock valued at $42,000 after purchasing an additional 510 shares in the last quarter. US Bancorp DE lifted its holdings in 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 purchasing an additional 660 shares during the last quarter. Signaturefd LLC lifted its position in Pan American Silver by 11.6% during the second quarter. Signaturefd LLC now owns 7,469 shares of the basic materials company’s stock worth $148,000 after acquiring an additional 774 shares during the last quarter. Advisors Asset Management Inc. grew its position in shares of Pan American Silver by 3.7% during the 3rd 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 in the last quarter. Finally, Eastern Bank acquired a new stake in shares of Pan American Silver during the 3rd quarter worth approximately $28,000. Institutional investors and hedge funds own 55.43% of the company’s stock.

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.