Pan American Silver (NYSE:PAAS) Shares Gap Up to $19.29

Pan American Silver Corp. (NYSE:PAAS - Get Free Report) TSE: PAAS's share price gapped up before the market opened on Thursday . The stock had previously closed at $19.29, but opened at $19.78. Pan American Silver shares last traded at $20.07, with a volume of 582,236 shares trading hands.

Analysts Set New Price Targets

PAAS has been the subject of a number of research analyst reports. Jefferies Financial Group raised their price target on shares of Pan American Silver from $19.00 to $22.00 and gave the stock a "hold" rating in a report on Friday, July 12th. Scotiabank lifted their price target on Pan American Silver from $23.00 to $26.00 and gave the stock a "sector outperform" rating in a research report on Tuesday, July 16th. Royal Bank of Canada increased their price objective on Pan American Silver from $25.00 to $27.00 and gave the company an "outperform" rating in a report on Tuesday. BMO Capital Markets raised their price objective on Pan American Silver from $22.00 to $24.00 in a research note on Tuesday, May 21st. Finally, CIBC upped their target price on Pan American Silver from $30.00 to $35.00 and gave the company an "outperformer" rating in a research report on Wednesday, July 10th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $24.79.

Pan American Silver Stock Performance

The firm has a fifty day moving average of $21.06 and a 200 day moving average of $19.17. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.06 and a quick ratio of 0.92. The stock has a market capitalization of $7.44 billion, a price-to-earnings ratio of -44.54 and a beta of 1.35.

Pan American Silver (NYSE:PAAS - Get Free Report) TSE: PAAS last released its quarterly earnings data on Wednesday, August 7th. The basic materials company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.04). Pan American Silver had a positive return on equity of 0.66% and a negative net margin of 5.54%. The company had revenue of $686.30 million during the quarter, compared to analysts' expectations of $696.08 million. During the same quarter in the prior year, the company posted $0.04 EPS. The company's revenue for the quarter was up 7.3% on a year-over-year basis. On average, sell-side analysts anticipate that Pan American Silver Corp. will post 0.59 earnings per share for the current fiscal year.

Pan American Silver Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Monday, August 19th were given a $0.10 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.95%. Pan American Silver's dividend payout ratio (DPR) is currently -86.96%.

Institutional Investors Weigh In On Pan American Silver

A number of institutional investors have recently modified their holdings of the business. Norges Bank purchased a new stake in Pan American Silver in the 4th quarter worth $63,066,000. Tidal Investments LLC increased its stake in shares of Pan American Silver by 15,618.3% during the first quarter. Tidal Investments LLC now owns 3,803,507 shares of the basic materials company's stock worth $57,340,000 after purchasing an additional 3,779,309 shares in the last quarter. Driehaus Capital Management LLC acquired a new position in shares of Pan American Silver during the 2nd quarter worth about $38,116,000. Bank of New York Mellon Corp lifted its stake in Pan American Silver by 366.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,601,137 shares of the basic materials company's stock valued at $31,831,000 after buying an additional 1,258,205 shares in the last quarter. Finally, Mackenzie Financial Corp boosted its holdings in Pan American Silver by 51.1% in the 2nd quarter. Mackenzie Financial Corp now owns 3,124,517 shares of the basic materials company's stock worth $62,107,000 after buying an additional 1,056,981 shares during the last quarter. 55.43% of the stock is currently owned by institutional investors and hedge funds.

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.