Pan American Silver Corp. (NASDAQ:PAAS) (TSE:PAA) was the recipient of a large growth in short interest during the month of November. As of November 15th, there was short interest totalling 1,379,055 shares, a growth of 91.1% from the October 31st total of 721,694 shares. Currently, 0.9% of the shares of the company are sold short. Based on an average daily trading volume, of 3,721,567 shares, the days-to-cover ratio is currently 0.4 days.

PAAS has been the topic of a number of research analyst reports. Deutsche Bank AG raised Pan American Silver Corp. from a “hold” rating to a “buy” rating and raised their target price for the company from $14.50 to $20.00 in a report on Monday, October 3rd. BMO Capital Markets raised Pan American Silver Corp. from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $24.00 to $28.00 in a report on Wednesday, November 16th. Canaccord Genuity initiated coverage on Pan American Silver Corp. in a report on Tuesday, October 25th. They set a “hold” rating and a $17.50 price objective on the stock. Bank of America Corp. raised Pan American Silver Corp. from an “underperform” rating to a “buy” rating in a report on Tuesday, November 22nd. Finally, Zacks Investment Research lowered Pan American Silver Corp. from a “buy” rating to a “hold” rating in a report on Thursday, November 3rd. Seven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $19.63.

Pan American Silver Corp. (NASDAQ:PAAS) opened at 16.89 on Tuesday. The company’s market cap is $2.57 billion. The firm has a 50-day moving average price of $16.22 and a 200 day moving average price of $17.06. Pan American Silver Corp. has a 12 month low of $5.38 and a 12 month high of $21.59.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 6th. Shareholders of record on Friday, November 25th will be paid a $0.0125 dividend. The ex-dividend date of this dividend is Tuesday, November 22nd. This represents a $0.05 annualized dividend and a yield of 0.30%. Pan American Silver Corp.’s dividend payout ratio is -13.51%.

A number of hedge funds have recently added to or reduced their stakes in the stock. Verition Fund Management LLC acquired a new stake in Pan American Silver Corp. during the third quarter valued at about $308,000. Cetera Advisor Networks LLC purchased a new position in Pan American Silver Corp. during the third quarter valued at approximately $263,000. Connor Clark & Lunn Investment Management Ltd. increased its position in Pan American Silver Corp. by 6.6% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 8,581,190 shares of the company’s stock valued at $150,828,000 after buying an additional 534,408 shares during the last quarter. Highbridge Capital Management LLC increased its position in Pan American Silver Corp. by 166.8% in the third quarter. Highbridge Capital Management LLC now owns 77,100 shares of the company’s stock valued at $1,358,000 after buying an additional 48,200 shares during the last quarter. Finally, Moors & Cabot Inc. increased its position in Pan American Silver Corp. by 8.4% in the third quarter. Moors & Cabot Inc. now owns 12,850 shares of the company’s stock valued at $229,000 after buying an additional 1,000 shares during the last quarter. Hedge funds and other institutional investors own 47.52% of the company’s stock.

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About Pan American Silver Corp.

Pan American Silver Corp. (Pan American) is engaged in the production and sale of silver, gold and base metals including copper, lead and zinc, as well as other related activities, including exploration, extraction, processing, refining and reclamation. The Company’s primary product (silver) is produced in Peru, Mexico, Argentina and Bolivia.

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