Pan American Silver (NYSE:PAAS) Shares Gap Down - Here's Why

Pan American Silver Corp. (NYSE:PAAS - Get Free Report) TSE: PAAS's share price gapped down before the market opened on Friday . The stock had previously closed at $29.13, but opened at $28.10. Pan American Silver shares last traded at $28.03, with a volume of 914,810 shares trading hands.

Wall Street Analyst Weigh In

PAAS has been the subject of several research reports. Scotiabank restated a "sector perform" rating on shares of Pan American Silver in a report on Monday, April 14th. CIBC upped their price target on Pan American Silver from $38.00 to $42.00 and gave the stock an "outperformer" rating in a research note on Thursday, May 8th. TD Securities decreased their price target on shares of Pan American Silver from $30.00 to $26.00 and set a "hold" rating for the company in a research note on Thursday, May 22nd. Wall Street Zen raised shares of Pan American Silver from a "buy" rating to a "strong-buy" rating in a research note on Thursday, May 15th. Finally, BMO Capital Markets assumed coverage on Pan American Silver in a research report on Wednesday, April 16th. They issued a "market perform" rating on the stock. Four research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $30.60.

Pan American Silver Price Performance

The company has a market capitalization of $10.27 billion, a P/E ratio of 32.63, a P/E/G ratio of 0.49 and a beta of 0.63. The company has a current ratio of 2.93, a quick ratio of 1.94 and a debt-to-equity ratio of 0.16. The firm has a fifty day moving average of $26.06 and a 200 day moving average of $24.46.

Pan American Silver (NYSE:PAAS - Get Free Report) TSE: PAAS last announced its earnings results on Wednesday, May 7th. The basic materials company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.23. The company had revenue of $773.20 million during the quarter, compared to analyst estimates of $696.62 million. Pan American Silver had a net margin of 10.45% and a return on equity of 9.25%. The firm's quarterly revenue was up 28.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.01 earnings per share. On average, equities research analysts anticipate that Pan American Silver Corp. will post 1.26 EPS for the current year.

Pan American Silver Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Tuesday, May 20th were issued a $0.10 dividend. The ex-dividend date of this dividend was Tuesday, May 20th. This represents a $0.40 dividend on an annualized basis and a yield of 1.41%. Pan American Silver's dividend payout ratio is currently 45.98%.

Institutional Trading of Pan American Silver

Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in shares of Pan American Silver by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 14,146,213 shares of the basic materials company's stock valued at $365,397,000 after acquiring an additional 138,028 shares during the period. FIL Ltd boosted its position in shares of Pan American Silver by 4.6% in the fourth quarter. FIL Ltd now owns 13,388,644 shares of the basic materials company's stock worth $270,848,000 after purchasing an additional 584,017 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Pan American Silver by 11.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,029,241 shares of the basic materials company's stock valued at $233,225,000 after purchasing an additional 959,859 shares during the period. Invesco Ltd. lifted its stake in shares of Pan American Silver by 2.1% during the 1st quarter. Invesco Ltd. now owns 6,029,828 shares of the basic materials company's stock valued at $155,750,000 after buying an additional 121,764 shares in the last quarter. Finally, Norges Bank bought a new position in Pan American Silver in the 4th quarter worth $91,916,000. 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.