Pan American Silver (NYSE:PAAS) Trading 4.8% Higher – Still a Buy?

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

Analyst Upgrades and Downgrades

PAAS has been the subject of several research reports. StockNews.com cut Pan American Silver from a “buy” rating to a “hold” rating in a research note on Sunday. Royal Bank of Canada lifted their price target on shares of Pan American Silver from $25.00 to $27.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 10th. Finally, Jefferies Financial Group lifted their target price on shares of Pan American Silver from $21.00 to $23.00 and gave the stock a “hold” rating in a report on Friday, October 4th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $25.42.

Get Our Latest Research Report on PAAS

Pan American Silver Price Performance

The company has a 50 day moving average price of $22.56 and a 200 day moving average price of $21.51. The company has a current ratio of 2.06, a quick ratio of 0.96 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $8.27 billion, a P/E ratio of -133.70 and a beta of 1.28.

Pan American Silver Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Monday, November 18th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.76%. The ex-dividend date of this dividend 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 have recently modified their holdings of the business. Van ECK Associates Corp boosted its position 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 purchasing an additional 2,328,306 shares in the last quarter. Mackenzie Financial Corp lifted its holdings in Pan American Silver by 51.1% during the second quarter. Mackenzie Financial Corp now owns 3,124,517 shares of the basic materials company’s stock worth $62,107,000 after acquiring an additional 1,056,981 shares during the period. TD Asset Management Inc grew its stake in Pan American Silver by 22.1% in the 2nd quarter. TD Asset Management Inc now owns 2,186,157 shares of the basic materials company’s stock valued at $43,440,000 after purchasing an additional 395,589 shares during the period. Driehaus Capital Management LLC purchased a new stake in Pan American Silver during the second quarter worth about $38,116,000. Finally, The Manufacturers Life Insurance Company increased its stake in shares of Pan American Silver by 1.5% during 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 during the last quarter. Institutional investors and hedge funds own 55.43% of the company’s stock.

About Pan American Silver

(Get Free Report)

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.

Further Reading

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