Pan American Silver (NYSE:PAAS) Trading 3.9% Higher – Time to Buy?

Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) was up 3.9% during trading on Monday . The company traded as high as $24.10 and last traded at $24.11. Approximately 689,723 shares changed 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.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered shares of Pan American Silver from a “buy” rating to a “hold” rating in a report on Sunday, December 1st. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $25.42.

Pan American Silver Trading Up 1.5 %

The company has a quick ratio of 0.96, a current ratio of 2.06 and a debt-to-equity ratio of 0.16. The firm’s 50 day moving average is $21.75 and its two-hundred day moving average is $21.67. The stock has a market cap of $8.79 billion, a price-to-earnings ratio of -142.42 and a beta of 1.28.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PAAS. Y Intercept Hong Kong Ltd acquired a new stake in Pan American Silver in the fourth quarter worth $734,000. Olympiad Research LP acquired a new stake in shares of Pan American Silver in the 4th quarter worth about $290,000. Oxbow Advisors LLC bought a new stake in Pan American Silver in the 4th quarter valued at about $3,279,000. Leuthold Group LLC acquired a new position in Pan American Silver during the 4th quarter valued at about $2,684,000. Finally, Alberta Investment Management Corp grew its position in Pan American Silver by 14.4% in the 4th quarter. Alberta Investment Management Corp now owns 1,108,186 shares of the basic materials company’s stock worth $22,407,000 after purchasing an additional 139,661 shares during the last quarter. Institutional investors and hedge funds own 55.43% of the company’s stock.

Pan American Silver Company Profile

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.