Short Interest in Pan American Silver Corp. (NYSE:PAAS) Drops By 19.1%

Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) saw a significant decrease in short interest in the month of December. As of December 31st, there was short interest totalling 6,720,000 shares, a decrease of 19.1% from the December 15th total of 8,310,000 shares. Based on an average daily trading volume, of 3,330,000 shares, the days-to-cover ratio is presently 2.0 days.

Analysts Set New Price Targets

A number of research firms have weighed in on PAAS. StockNews.com downgraded shares of Pan American Silver from a “buy” rating to a “hold” rating in a research report on Sunday, December 1st. Jefferies Financial Group increased 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. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $25.42.

Pan American Silver Price Performance

Pan American Silver stock opened at $21.46 on Friday. The stock has a market capitalization of $7.79 billion, a price-to-earnings ratio of -126.20 and a beta of 1.27. Pan American Silver has a 52-week low of $12.16 and a 52-week high of $26.05. The stock’s 50 day moving average price is $21.66 and its two-hundred day moving average price is $21.65. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.96 and a current ratio of 2.06.

Pan American Silver Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 29th. Shareholders 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 1.86%. The ex-dividend date was Monday, November 18th. Pan American Silver’s payout ratio is -235.28%.

Hedge Funds Weigh In On Pan American Silver

A number of institutional investors and hedge funds have recently modified their holdings of the business. Van ECK Associates Corp boosted its holdings in shares of Pan American Silver by 6.3% during the 3rd quarter. Van ECK Associates Corp now owns 39,512,808 shares of the basic materials company’s stock worth $824,632,000 after buying an additional 2,328,306 shares in the last quarter. Mackenzie Financial Corp lifted its holdings in shares of Pan American Silver by 51.1% in the 2nd quarter. Mackenzie Financial Corp now owns 3,124,517 shares of the basic materials company’s stock worth $62,107,000 after purchasing an additional 1,056,981 shares in the last quarter. Driehaus Capital Management LLC bought a new position in shares of Pan American Silver in the 2nd quarter worth $38,116,000. The Manufacturers Life Insurance Company lifted its holdings in shares of Pan American Silver by 1.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,829,052 shares of the basic materials company’s stock worth $36,300,000 after purchasing an additional 27,372 shares in the last quarter. Finally, Ingalls & Snyder LLC lifted its holdings in shares of Pan American Silver by 3.4% in the 3rd quarter. Ingalls & Snyder LLC now owns 1,637,988 shares of the basic materials company’s stock worth $34,185,000 after purchasing an additional 53,500 shares in the last quarter. 55.43% of the stock is currently owned by institutional investors.

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.