Pan American Silver (NYSE:PAAS) Shares Gap Up – Time to Buy?

Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS)’s stock price gapped up prior to trading 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.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Royal Bank of Canada upped their target price on Pan American Silver from $25.00 to $27.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 10th. Jefferies Financial Group lifted their price objective on shares of Pan American Silver from $21.00 to $23.00 and gave the company a “hold” rating in a research note on Friday, October 4th. Finally, StockNews.com upgraded Pan American Silver from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $24.93.

Pan American Silver Trading Up 6.6 %

The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.96 and a current ratio of 2.06. The company has a market capitalization of $8.29 billion, a P/E ratio of -125.94 and a beta of 1.33. The company has a 50-day simple moving average of $22.18 and a 200 day simple moving average of $21.31.

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 given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date of this dividend is Monday, November 18th. Pan American Silver’s dividend payout ratio (DPR) is presently -235.29%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC raised its position in shares of Pan American Silver by 7.6% during the third quarter. Geode Capital Management LLC now owns 1,533,328 shares of the basic materials company’s stock worth $31,713,000 after acquiring an additional 108,039 shares during the last quarter. Barclays PLC boosted its stake 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 worth $1,282,000 after buying an additional 37,480 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new position in Pan American Silver during the third quarter valued at approximately $547,000. XTX Topco Ltd bought a new position in shares of Pan American Silver in the third quarter valued at about $1,231,000. Finally, National Bank of Canada FI lifted its stake in shares of Pan American Silver by 30.1% during the 3rd quarter. National Bank of Canada FI now owns 1,143,061 shares of the basic materials company’s stock worth $23,857,000 after buying an additional 264,772 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.