Pan American Silver (NYSE:PAAS) Shares Gap Down – Time to Sell?

Shares of Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) gapped down prior to trading on Monday . The stock had previously closed at $22.64, but opened at $21.55. Pan American Silver shares last traded at $21.38, with a volume of 1,043,900 shares.

Analysts Set New Price Targets

A number of equities research analysts recently commented on PAAS shares. Jefferies Financial Group boosted their target price on Pan American Silver from $21.00 to $23.00 and gave the stock a “hold” rating in a research report on Friday, October 4th. Scotiabank boosted their target price 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. Finally, Royal Bank of Canada upped their price objective on Pan American Silver from $25.00 to $27.00 and gave the company an “outperform” rating in a research report on Tuesday, September 10th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $24.93.

Pan American Silver Stock Performance

The stock’s 50 day simple moving average is $21.94 and its two-hundred day simple moving average is $21.21. The company has a quick ratio of 0.92, a current ratio of 2.06 and a debt-to-equity ratio of 0.16. The company has a market cap of $7.72 billion, a PE ratio of -133.17 and a beta of 1.33.

Pan American Silver Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Monday, November 18th will be given a $0.10 dividend. The ex-dividend date is Monday, November 18th. This represents a $0.40 annualized dividend and a yield of 1.88%. Pan American Silver’s dividend payout ratio is presently -235.28%.

Institutional Trading of Pan American Silver

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Eastern Bank purchased a new position in Pan American Silver during the third quarter valued at approximately $28,000. Mark Sheptoff Financial Planning LLC grew its position in Pan American Silver by 943.4% during 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 purchasing an additional 1,500 shares in the last quarter. CWM LLC grew its position in Pan American Silver by 31.6% during the second quarter. CWM LLC now owns 2,124 shares of the basic materials company’s stock valued at $42,000 after purchasing an additional 510 shares in the last quarter. Perritt Capital Management Inc. grew its position in Pan American Silver by 76.9% during the first quarter. Perritt Capital Management Inc. now owns 2,300 shares of the basic materials company’s stock valued at $35,000 after purchasing an additional 1,000 shares in the last quarter. Finally, UniSuper Management Pty Ltd grew its position in Pan American Silver by 73.3% during the first quarter. UniSuper Management Pty Ltd now owns 5,200 shares of the basic materials company’s stock valued at $78,000 after purchasing an additional 2,200 shares in the last quarter. 55.43% of the stock is currently owned by institutional investors.

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.