Pan American Silver (NYSE:PAAS) Shares Gap Down to $19.23

Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) shares gapped down prior to trading on Tuesday . The stock had previously closed at $19.23, but opened at $18.47. Pan American Silver shares last traded at $18.78, with a volume of 908,808 shares.

Wall Street Analyst Weigh In

PAAS has been the topic of a number of research analyst reports. StockNews.com downgraded Pan American Silver from a “hold” rating to a “sell” rating in a report on Monday, January 15th. TD Securities reduced their target price on Pan American Silver from $18.50 to $17.50 and set a “buy” rating on the stock in a report on Friday, February 23rd. CIBC reduced their target price on Pan American Silver from $28.00 to $27.50 and set an “outperform” rating on the stock in a report on Wednesday, February 7th. Scotiabank upped their target price on Pan American Silver from $19.50 to $20.00 and gave the stock a “sector outperform” rating in a report on Monday, April 8th. Finally, Jefferies Financial Group upped their target price on Pan American Silver from $14.00 to $17.00 and gave the stock a “hold” rating in a report on Monday, April 22nd. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $21.00.

Pan American Silver Trading Down 3.0 %

The company has a debt-to-equity ratio of 0.16, a current ratio of 2.23 and a quick ratio of 1.09. The business has a 50-day moving average price of $15.61 and a 200 day moving average price of $15.03.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last released its quarterly earnings data on Thursday, February 22nd. The basic materials company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.12). The business had revenue of $669.60 million during the quarter, compared to the consensus estimate of $657.65 million. Pan American Silver had a negative net margin of 5.24% and a positive return on equity of 0.44%. During the same period last year, the company posted ($0.02) earnings per share. As a group, analysts forecast that Pan American Silver Corp. will post 0.38 earnings per share for the current fiscal year.

Pan American Silver Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Monday, March 4th were given a $0.10 dividend. The ex-dividend date of this dividend was Friday, March 1st. This represents a $0.40 annualized dividend and a yield of 2.14%. Pan American Silver’s dividend payout ratio (DPR) is presently -133.33%.

Institutional Investors Weigh In On Pan American Silver

A number of hedge funds have recently added to or reduced their stakes in PAAS. AE Wealth Management LLC raised its stake in Pan American Silver by 5.2% during the 3rd quarter. AE Wealth Management LLC now owns 24,499 shares of the basic materials company’s stock valued at $355,000 after buying an additional 1,204 shares during the last quarter. DAVENPORT & Co LLC increased its stake in shares of Pan American Silver by 127.1% in the 3rd quarter. DAVENPORT & Co LLC now owns 29,731 shares of the basic materials company’s stock worth $431,000 after purchasing an additional 16,639 shares in the last quarter. Raymond James & Associates increased its stake in shares of Pan American Silver by 4.3% in the 3rd quarter. Raymond James & Associates now owns 331,580 shares of the basic materials company’s stock worth $4,801,000 after purchasing an additional 13,763 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in shares of Pan American Silver by 1.2% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 116,315 shares of the basic materials company’s stock worth $1,684,000 after purchasing an additional 1,337 shares in the last quarter. Finally, Mackenzie Financial Corp increased its stake in Pan American Silver by 5.0% in the 3rd quarter. Mackenzie Financial Corp now owns 3,204,694 shares of the basic materials company’s stock worth $44,012,000 after buying an additional 153,568 shares in the last quarter. 55.43% of the stock is currently owned by hedge funds and other 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.