Pan American Silver (NYSE:PAAS) Shares Up 3.9% – Here’s Why

Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) shot up 3.9% on Monday . The company traded as high as $24.10 and last traded at $24.11. 689,723 shares were traded during mid-day trading, a decline of 74% from the average session volume of 2,676,642 shares. The stock had previously closed at $23.21.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of Pan American Silver from a “buy” rating to a “hold” rating in a research note on Sunday, December 1st. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $25.42.

Pan American Silver Stock Performance

The firm has a market capitalization of $8.82 billion, a P/E ratio of -142.80 and a beta of 1.28. The stock’s 50 day moving average is $21.66 and its two-hundred day moving average is $21.66. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.06 and a quick ratio of 0.96.

Pan American Silver Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Monday, November 18th were paid a dividend of $0.10 per share. The ex-dividend date was Monday, November 18th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.65%. Pan American Silver’s dividend payout ratio is -235.28%.

Hedge Funds Weigh In On Pan American Silver

A number of institutional investors have recently bought and sold shares of PAAS. Comprehensive Financial Planning Inc. PA acquired a new position in shares of Pan American Silver in the fourth quarter valued at approximately $27,000. Eastern Bank bought a new stake in Pan American Silver in the 3rd quarter valued at $28,000. Laurel Wealth Advisors LLC bought a new position in Pan American Silver during the 4th quarter worth $30,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Pan American Silver during the third quarter worth $32,000. Finally, Decker Retirement Planning Inc. bought a new stake in shares of Pan American Silver in the fourth quarter valued at about $32,000. Institutional investors and hedge funds own 55.43% of the company’s stock.

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.