Short Interest in Pan American Silver Corp. (NYSE:PAAS) Drops By 19.1%

Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) was the recipient of a large drop in short interest in the month of December. As of December 31st, there was short interest totalling 6,720,000 shares, a drop of 19.1% from the December 15th total of 8,310,000 shares. Based on an average daily trading volume, of 3,330,000 shares, the short-interest ratio is currently 2.0 days.

Analyst Ratings Changes

Several brokerages have commented on PAAS. Jefferies Financial Group raised 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. StockNews.com cut shares of Pan American Silver from a “buy” rating to a “hold” rating in a research note on Sunday, December 1st. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Pan American Silver presently has a consensus rating of “Moderate Buy” and a consensus price target of $25.42.

Pan American Silver Trading Up 1.2 %

PAAS stock opened at $21.46 on Friday. Pan American Silver has a one year low of $12.16 and a one year high of $26.05. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.06 and a quick ratio of 0.96. The stock has a market cap of $7.79 billion, a price-to-earnings ratio of -126.20 and a beta of 1.27. The company has a fifty day moving average price of $21.66 and a two-hundred day moving average price of $21.65.

Pan American Silver Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Monday, November 18th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date of this dividend was Monday, November 18th. Pan American Silver’s dividend payout ratio is currently -235.28%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. US Bancorp DE lifted its holdings in shares of Pan American Silver by 13.4% in the third quarter. US Bancorp DE now owns 5,600 shares of the basic materials company’s stock worth $117,000 after acquiring an additional 660 shares during the last quarter. Advisors Asset Management Inc. increased its stake in shares of Pan American Silver by 3.7% in the third quarter. Advisors Asset Management Inc. now owns 26,751 shares of the basic materials company’s stock valued at $558,000 after buying an additional 951 shares during the period. Eastern Bank acquired a new position in shares of Pan American Silver in the third quarter valued at approximately $28,000. Mark Sheptoff Financial Planning LLC increased its stake in shares of Pan American Silver by 943.4% in the second quarter. Mark Sheptoff Financial Planning LLC now owns 1,659 shares of the basic materials company’s stock valued at $33,000 after buying an additional 1,500 shares during the period. Finally, Hollencrest Capital Management increased its stake in shares of Pan American Silver by 4.0% in the second quarter. Hollencrest Capital Management now owns 38,960 shares of the basic materials company’s stock valued at $775,000 after buying an additional 1,500 shares during the period. 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.