Pan American Silver (NYSE:PAAS) Shares Gap Down – Time to Sell?

Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) gapped down prior to trading on Friday . The stock had previously closed at $21.45, but opened at $21.01. Pan American Silver shares last traded at $21.41, with a volume of 196,559 shares.

Analysts Set New Price Targets

PAAS has been the topic of a number of recent analyst reports. Jefferies Financial Group increased their price target on shares of Pan American Silver from $21.00 to $23.00 and gave the company a “hold” rating in a report on Friday, October 4th. StockNews.com downgraded Pan American Silver from a “buy” rating to a “hold” rating in a research note on Sunday, December 1st. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Pan American Silver presently has a consensus rating of “Moderate Buy” and an average target price of $25.42.

Pan American Silver Trading Up 0.1 %

The company has a debt-to-equity ratio of 0.16, a current ratio of 2.06 and a quick ratio of 0.96. The stock’s 50-day moving average is $21.63 and its two-hundred day moving average is $21.68. The company has a market cap of $7.80 billion, a P/E ratio of -126.31 and a beta of 1.27.

Pan American Silver Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Monday, November 18th were paid a $0.10 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.86%. Pan American Silver’s dividend payout ratio (DPR) is currently -235.28%.

Institutional Trading of Pan American Silver

A number of hedge funds have recently bought and sold shares of the company. Van ECK Associates Corp grew 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 valued at $824,632,000 after purchasing an additional 2,328,306 shares during the period. Mackenzie Financial Corp boosted its holdings in shares of Pan American Silver by 51.1% in the second quarter. Mackenzie Financial Corp now owns 3,124,517 shares of the basic materials company’s stock worth $62,107,000 after buying an additional 1,056,981 shares during the last quarter. Driehaus Capital Management LLC bought a new stake in Pan American Silver during the second quarter valued at approximately $38,116,000. The Manufacturers Life Insurance Company increased its holdings in Pan American Silver by 1.5% during the second 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 buying an additional 27,372 shares during the last quarter. Finally, Ingalls & Snyder LLC raised its position in Pan American Silver by 3.4% in the third quarter. Ingalls & Snyder LLC now owns 1,637,988 shares of the basic materials company’s stock worth $34,185,000 after acquiring an additional 53,500 shares during the period. Hedge funds and other institutional investors own 55.43% of the company’s stock.

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.