Pan American Silver (NYSE:PAAS) Trading Down 8.2% – Here’s What Happened

Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) dropped 8.2% during mid-day trading on Thursday . The company traded as low as $45.94 and last traded at $47.5380. Approximately 8,171,787 shares changed hands during trading, a decline of 5% from the average daily volume of 8,585,568 shares. The stock had previously closed at $51.79.

Analyst Upgrades and Downgrades

PAAS has been the subject of a number of recent research reports. Scotiabank lifted their price objective on Pan American Silver from $47.00 to $64.00 and gave the company an “outperform” rating in a research note on Monday, January 26th. Canadian Imperial Bank of Commerce set a $88.00 price objective on shares of Pan American Silver and gave the stock an “outperform” rating in a research report on Wednesday, February 4th. Bank of America upped their price objective on shares of Pan American Silver from $46.00 to $51.00 and gave the stock a “buy” rating in a report on Monday, December 1st. Zacks Research cut shares of Pan American Silver from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 31st. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Pan American Silver in a research report on Monday, December 29th. Five analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $56.60.

Pan American Silver Stock Down 3.2%

The firm has a fifty day moving average price of $59.03 and a 200 day moving average price of $47.65. The firm has a market capitalization of $19.74 billion, a price-to-earnings ratio of 18.72, a PEG ratio of 0.45 and a beta of 0.62. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.97 and a current ratio of 2.69.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last released its quarterly earnings results on Wednesday, February 18th. The basic materials company reported $1.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.21. The business had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.11 billion. Pan American Silver had a net margin of 27.07% and a return on equity of 16.38%. Pan American Silver’s revenue for the quarter was up 44.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.35 EPS. As a group, sell-side analysts expect that Pan American Silver Corp. will post 1.26 EPS for the current fiscal year.

Pan American Silver Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Monday, March 2nd were given a dividend of $0.18 per share. This is a boost from Pan American Silver’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $0.72 annualized dividend and a yield of 1.5%. Pan American Silver’s payout ratio is presently 28.80%.

Hedge Funds Weigh In On Pan American Silver

Hedge funds have recently bought and sold shares of the business. AQR Capital Management LLC increased its stake in shares of Pan American Silver by 48.6% in the 1st quarter. AQR Capital Management LLC now owns 19,529 shares of the basic materials company’s stock valued at $504,000 after acquiring an additional 6,391 shares in the last quarter. Jones Financial Companies Lllp increased its holdings in shares of Pan American Silver by 574.9% in the first quarter. Jones Financial Companies Lllp now owns 19,518 shares of the basic materials company’s stock worth $504,000 after purchasing an additional 16,626 shares during the period. Goldman Sachs Group Inc. raised its position in shares of Pan American Silver by 31.6% in the first quarter. Goldman Sachs Group Inc. now owns 1,499,343 shares of the basic materials company’s stock worth $38,728,000 after buying an additional 360,283 shares in the last quarter. Empowered Funds LLC bought a new stake in Pan American Silver during the first quarter valued at $1,272,000. Finally, Envestnet Asset Management Inc. increased its holdings in shares of Pan American Silver by 7.1% in the 2nd quarter. Envestnet Asset Management Inc. now owns 36,336 shares of the basic materials company’s stock worth $1,032,000 after buying an additional 2,420 shares during the last quarter. 55.43% of the stock is owned by institutional investors.

About Pan American Silver

Pan American Silver Corp. (NYSE: PAAS) is a Vancouver-based mining company and one of the world’s largest primary silver producers. The company’s core activities encompass the exploration, development, extraction and processing of silver, with significant by-product production of gold, zinc and lead. Pan American Silver maintains a vertically integrated operating model, covering the full mining value chain from resource discovery through to refined metal production.

With a geographic footprint concentrated across the Americas, Pan American Silver operates multiple mines in Mexico, Peru, Argentina and Bolivia, and is advancing several development and exploration projects in Chile and Ecuador.