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

Pan American Silver Corp. (NYSE:PAAS - Get Free Report) TSE: PAAS's share price gapped up before the market opened on Monday . The stock had previously closed at $21.41, but opened at $22.48. Pan American Silver shares last traded at $22.55, with a volume of 612,742 shares changing hands.

Wall Street Analyst Weigh In

PAAS has been the topic of a number of research analyst reports. Royal Bank of Canada lifted their price target on Pan American Silver from $25.00 to $27.00 and gave the stock an "outperform" rating in a research note on Tuesday, September 10th. StockNews.com raised shares of Pan American Silver from a "hold" rating to a "buy" rating in a report on Tuesday, November 12th. Finally, Jefferies Financial Group raised their price target on shares of Pan American Silver from $21.00 to $23.00 and gave the stock a "hold" rating in a research note on Friday, October 4th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, Pan American Silver presently has a consensus rating of "Moderate Buy" and an average price target of $24.93.

Pan American Silver Price Performance

The stock has a 50-day simple moving average of $22.26 and a 200 day simple moving average of $21.34. 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 company has a market cap of $8.24 billion, a PE ratio of -133.47 and a beta of 1.33.

Pan American Silver Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Monday, November 18th will be paid 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 is Monday, November 18th. Pan American Silver's payout ratio is -235.29%.

Institutional Investors Weigh In On Pan American Silver

A number of hedge funds have recently added to or reduced their stakes in PAAS. Van ECK Associates Corp raised its holdings in Pan American Silver by 6.3% in the third quarter. Van ECK Associates Corp now owns 39,512,808 shares of the basic materials company's stock valued at $824,632,000 after acquiring an additional 2,328,306 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Pan American Silver by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 13,225,480 shares of the basic materials company's stock worth $199,440,000 after purchasing an additional 159,908 shares during the last quarter. Tidal Investments LLC grew 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. Mackenzie Financial Corp increased its holdings in Pan American Silver by 51.1% in the second quarter. Mackenzie Financial Corp now owns 3,124,517 shares of the basic materials company's stock valued at $62,107,000 after buying an additional 1,056,981 shares during the last quarter. Finally, TD Asset Management Inc raised its stake in Pan American Silver by 22.1% in the second quarter. TD Asset Management Inc now owns 2,186,157 shares of the basic materials company's stock valued at $43,440,000 after buying an additional 395,589 shares in 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.