Pan American Silver (NYSE:PAAS) Shares Gap Down – Here’s What Happened

Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) gapped down before the market opened on Monday . The stock had previously closed at $22.58, but opened at $21.64. Pan American Silver shares last traded at $21.85, with a volume of 84,633 shares traded.

Analysts Set New Price Targets

PAAS has been the subject of several analyst reports. Jefferies Financial Group raised their price objective on Pan American Silver from $21.00 to $23.00 and gave the company a “hold” rating in a research note on Friday, October 4th. StockNews.com upgraded Pan American Silver from a “hold” rating to a “buy” rating in a research report on Monday. Finally, Royal Bank of Canada boosted their price objective on shares of Pan American Silver from $25.00 to $27.00 and gave the company an “outperform” rating in a research report on Tuesday, September 10th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $25.42.

Pan American Silver Price Performance

The stock has a 50 day moving average of $22.48 and a 200-day moving average of $21.46. The company has a current ratio of 2.06, a quick ratio of 0.96 and a debt-to-equity ratio of 0.16.

Pan American Silver Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Monday, November 18th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.84%. The ex-dividend date of this dividend is Monday, November 18th. Pan American Silver’s dividend payout ratio is currently -235.28%.

Institutional Investors Weigh In On Pan American Silver

Large investors have recently added to or reduced their stakes in the stock. Lighthouse Investment Partners LLC purchased a new stake in shares of Pan American Silver in the second quarter valued at approximately $990,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Pan American Silver during the second quarter worth about $963,000. Cetera Investment Advisers acquired a new position in shares of Pan American Silver during the first quarter valued at about $1,565,000. Stratos Wealth Advisors LLC raised its position 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 valued at $3,324,000 after purchasing an additional 39,873 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its stake in Pan American Silver by 121.6% in the 1st quarter. Janus Henderson Group PLC now owns 45,279 shares of the basic materials company’s stock worth $682,000 after purchasing an additional 24,847 shares in the last quarter. 55.43% of the stock is owned by hedge funds and other 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.