Pan American Silver (NYSE:PAAS) Trading Up 3.9% – Here’s What Happened

Shares of Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) were up 3.9% during mid-day trading on Monday . The company traded as high as $24.10 and last traded at $24.11. Approximately 689,723 shares traded hands during trading, a decline of 74% from the average daily volume of 2,676,642 shares. The stock had previously closed at $23.21.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut Pan American Silver from a “buy” rating to a “hold” rating in a research note on Sunday, December 1st. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $25.42.

Pan American Silver Trading Up 1.5 %

The stock has a market capitalization of $8.79 billion, a P/E ratio of -142.42 and a beta of 1.28. The business has a 50 day simple moving average of $21.75 and a 200-day simple moving average of $21.67. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.96 and a current ratio of 2.06.

Institutional Investors Weigh In On Pan American Silver

A number of institutional investors and hedge funds have recently bought and sold shares of PAAS. Comprehensive Financial Planning Inc. PA bought a new position in shares of Pan American Silver in the fourth quarter valued at $27,000. Eastern Bank acquired a new position in shares of Pan American Silver in the third quarter worth about $28,000. Laurel Wealth Advisors LLC purchased a new position in shares of Pan American Silver in the fourth quarter worth approximately $30,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Pan American Silver in the 3rd quarter valued at approximately $32,000. Finally, Decker Retirement Planning Inc. acquired a new position in Pan American Silver in the 4th quarter worth approximately $32,000. 55.43% of the stock is owned by institutional investors and hedge funds.

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.