Pan American Silver (NYSE:PAAS) Shares Gap Down - Here's Why

Pan American Silver Corp. (NYSE:PAAS - Get Free Report) TSE: PAAS's share price gapped down prior to trading on Friday . The stock had previously closed at $21.45, but opened at $21.01. Pan American Silver shares last traded at $21.41, with a volume of 196,559 shares.

Analyst Ratings Changes

Several equities analysts have recently weighed in on PAAS shares. StockNews.com downgraded Pan American Silver from a "buy" rating to a "hold" rating in a report on Sunday, December 1st. 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 equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Pan American Silver has a consensus rating of "Moderate Buy" and an average price target of $25.42.

Pan American Silver Price Performance

The firm has a fifty day moving average of $21.63 and a 200 day moving average of $21.68. 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 $7.80 billion, a P/E ratio of -126.31 and a beta of 1.27.

Pan American Silver Dividend Announcement

The business also recently disclosed 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. The ex-dividend date of this dividend was Monday, November 18th. This represents a $0.40 annualized dividend and a dividend yield of 1.86%. Pan American Silver's payout ratio is -235.28%.

Hedge Funds Weigh In On Pan American Silver

Several hedge funds and other institutional investors have recently modified their holdings of the company. Lighthouse Investment Partners LLC purchased a new stake in Pan American Silver during the second quarter valued at $990,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Pan American Silver during the 2nd quarter valued at about $963,000. Barclays PLC increased its position in shares of Pan American Silver by 156.4% during the 3rd quarter. Barclays PLC now owns 61,439 shares of the basic materials company's stock valued at $1,282,000 after purchasing an additional 37,480 shares during the last quarter. Stratos Wealth Advisors LLC lifted its stake in shares of Pan American Silver by 33.4% in the 3rd quarter. Stratos Wealth Advisors LLC now owns 159,268 shares of the basic materials company's stock worth $3,324,000 after purchasing an additional 39,873 shares during the period. Finally, Marlin Sams Capital Management LLC boosted its holdings in shares of Pan American Silver by 89.2% in the third quarter. Marlin Sams Capital Management LLC now owns 700,000 shares of the basic materials company's stock worth $14,609,000 after buying an additional 330,000 shares during the last quarter. 55.43% of the stock is owned by 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.