Pan American Silver (NYSE:PAAS) Downgraded to “Hold” Rating by StockNews.com

StockNews.com lowered shares of Pan American Silver (NYSE:PAAS) (TSE:PAAS) from a buy rating to a hold rating in a research note released on Sunday.

Several other equities research analysts have also issued reports on the company. 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. Royal Bank of Canada raised their price objective on Pan American Silver from $25.00 to $27.00 and gave the company an “outperform” rating in a research note on Tuesday, September 10th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $25.42.

Pan American Silver Stock Performance

NYSE PAAS opened at $21.97 on Friday. The stock has a market capitalization of $7.98 billion, a PE ratio of -129.23 and a beta of 1.33. The business has a 50 day simple moving average of $22.55 and a two-hundred day simple moving average of $21.50. 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 has a 1-year low of $12.16 and a 1-year high of $26.05.

Pan American Silver Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Monday, November 18th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.82%. The ex-dividend date was Monday, November 18th. Pan American Silver’s dividend payout ratio is currently -235.28%.

Institutional Investors Weigh In On Pan American Silver

A number of institutional investors and hedge funds have recently modified their holdings of the business. Van ECK Associates Corp lifted its stake in shares of Pan American Silver by 6.3% during the 3rd quarter. Van ECK Associates Corp now owns 39,512,808 shares of the basic materials company’s stock worth $824,632,000 after acquiring an additional 2,328,306 shares during the last quarter. Mackenzie Financial Corp raised its position in Pan American Silver by 51.1% during the 2nd quarter. Mackenzie Financial Corp now owns 3,124,517 shares of the basic materials company’s stock valued at $62,107,000 after purchasing an additional 1,056,981 shares in the last quarter. TD Asset Management Inc raised its position in Pan American Silver by 22.1% during the 2nd quarter. TD Asset Management Inc now owns 2,186,157 shares of the basic materials company’s stock valued at $43,440,000 after purchasing an additional 395,589 shares in the last quarter. Driehaus Capital Management LLC bought a new stake in Pan American Silver during the 2nd quarter valued at $38,116,000. Finally, The Manufacturers Life Insurance Company raised its position in Pan American Silver by 1.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,829,052 shares of the basic materials company’s stock valued at $36,300,000 after purchasing an additional 27,372 shares in the last quarter. 55.43% of the stock is 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.