Pan American Silver Corp. (NYSE:PAAS) Sees Significant Drop in Short Interest

Pan American Silver Corp. (NYSE:PAASGet Free Report) (TSE:PAAS) was the recipient of a significant decline in short interest during the month of April. As of April 30th, there was short interest totalling 14,390,000 shares, a decline of 14.7% from the April 15th total of 16,860,000 shares. Based on an average daily volume of 4,830,000 shares, the short-interest ratio is presently 3.0 days.

Analysts Set New Price Targets

A number of brokerages recently issued reports on PAAS. Jefferies Financial Group increased their target price on shares of Pan American Silver from $14.00 to $17.00 and gave the company a “hold” rating in a research report on Monday, April 22nd. CIBC dropped their price objective on Pan American Silver from $28.00 to $27.50 and set an “outperform” rating on the stock in a report on Wednesday, February 7th. TD Securities lowered their price objective on Pan American Silver from $18.50 to $17.50 and set a “buy” rating on the stock in a report on Friday, February 23rd. StockNews.com raised Pan American Silver from a “sell” rating to a “hold” rating in a research report on Saturday. Finally, Scotiabank upped their price objective on shares of Pan American Silver from $19.50 to $20.00 and gave the stock a “sector outperform” rating in a report on Monday, April 8th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Pan American Silver has an average rating of “Moderate Buy” and an average target price of $21.00.

Read Our Latest Stock Analysis on PAAS

Hedge Funds Weigh In On Pan American Silver

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Van ECK Associates Corp grew its stake in shares of Pan American Silver by 1.4% in the first quarter. Van ECK Associates Corp now owns 46,486,439 shares of the basic materials company’s stock valued at $701,016,000 after acquiring an additional 653,064 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Pan American Silver by 1.2% in the first quarter. Vanguard Group Inc. now owns 13,225,480 shares of the basic materials company’s stock worth $199,440,000 after acquiring an additional 159,908 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Pan American Silver by 9.7% in the 3rd quarter. Invesco Ltd. now owns 5,895,109 shares of the basic materials company’s stock valued at $85,361,000 after purchasing an additional 520,978 shares in the last quarter. Norges Bank acquired a new position in shares of Pan American Silver during the fourth quarter worth $63,066,000. Finally, Ameriprise Financial Inc. increased its holdings in Pan American Silver by 1.0% in the 3rd quarter. Ameriprise Financial Inc. now owns 3,080,846 shares of the basic materials company’s stock worth $44,636,000 after purchasing an additional 31,618 shares in the last quarter. 55.43% of the stock is owned by institutional investors and hedge funds.

Pan American Silver Price Performance

PAAS opened at $20.35 on Monday. The company’s 50 day simple moving average is $16.75 and its 200-day simple moving average is $15.28. The stock has a market capitalization of $7.39 billion, a P/E ratio of -44.24, a price-to-earnings-growth ratio of 2.77 and a beta of 1.36. Pan American Silver has a one year low of $12.16 and a one year high of $20.90. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.23 and a quick ratio of 1.09.

Pan American Silver (NYSE:PAASGet Free Report) (TSE:PAAS) last announced its quarterly earnings data on Wednesday, May 8th. The basic materials company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.07. Pan American Silver had a negative net margin of 6.68% and a positive return on equity of 0.12%. The business had revenue of $601.40 million for the quarter, compared to analyst estimates of $592.58 million. During the same period in the prior year, the business posted $0.10 earnings per share. Pan American Silver’s revenue was up 54.1% compared to the same quarter last year. Sell-side analysts anticipate that Pan American Silver will post 0.38 earnings per share for the current fiscal year.

Pan American Silver Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Tuesday, May 21st will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.97%. The ex-dividend date of this dividend is Monday, May 20th. Pan American Silver’s dividend payout ratio (DPR) is -86.96%.

Pan American Silver Company Profile

(Get Free Report)

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.

Further Reading

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