Pan American Silver (NASDAQ:PAAS) Shares Gap Up to $16.10

Pan American Silver Corp. (NASDAQ:PAAS) (TSE:PAAS)’s share price gapped up before the market opened on Monday . The stock had previously closed at $15.54, but opened at $16.10. Pan American Silver shares last traded at $16.68, with a volume of 4,787,990 shares traded.

A number of equities analysts have commented on the stock. ValuEngine downgraded shares of Pan American Silver from a “buy” rating to a “hold” rating in a research report on Thursday. BidaskClub upgraded shares of Pan American Silver from a “hold” rating to a “buy” rating in a research report on Friday, July 19th. Zacks Investment Research upgraded shares of Pan American Silver from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a research report on Thursday, July 11th. Finally, Deutsche Bank upgraded shares of Pan American Silver from a “hold” rating to a “buy” rating and cut their price objective for the stock from $17.50 to $15.50 in a research report on Wednesday, April 10th. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company’s stock. Pan American Silver currently has a consensus rating of “Hold” and an average target price of $16.68.

The stock has a market cap of $3.58 billion, a P/E ratio of 42.77, a PEG ratio of 12.98 and a beta of 0.14. The company has a current ratio of 3.83, a quick ratio of 2.74 and a debt-to-equity ratio of 0.15. The stock has a 50-day simple moving average of $14.01.

Pan American Silver (NASDAQ:PAAS) (TSE:PAAS) last announced its quarterly earnings results on Wednesday, May 8th. The basic materials company reported $0.05 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.03. The business had revenue of $232.60 million during the quarter, compared to the consensus estimate of $240.67 million. Pan American Silver had a negative net margin of 0.34% and a positive return on equity of 2.11%. The business’s revenue was up 12.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.20 EPS. As a group, equities research analysts forecast that Pan American Silver Corp. will post 0.31 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Pan American Silver by 6.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,100 shares of the basic materials company’s stock valued at $170,000 after purchasing an additional 800 shares in the last quarter. Wedbush Securities Inc. increased its holdings in shares of Pan American Silver by 7.4% in the 2nd quarter. Wedbush Securities Inc. now owns 14,598 shares of the basic materials company’s stock valued at $188,000 after purchasing an additional 1,000 shares in the last quarter. Confluence Investment Management LLC increased its holdings in shares of Pan American Silver by 8.2% in the 2nd quarter. Confluence Investment Management LLC now owns 14,571 shares of the basic materials company’s stock valued at $188,000 after purchasing an additional 1,109 shares in the last quarter. Gamco Investors INC. ET AL increased its holdings in shares of Pan American Silver by 5.5% in the 2nd quarter. Gamco Investors INC. ET AL now owns 26,130 shares of the basic materials company’s stock valued at $337,000 after purchasing an additional 1,365 shares in the last quarter. Finally, Bennicas & Associates Inc. increased its holdings in shares of Pan American Silver by 1.5% in the 1st quarter. Bennicas & Associates Inc. now owns 107,832 shares of the basic materials company’s stock valued at $1,429,000 after purchasing an additional 1,615 shares in the last quarter. Institutional investors and hedge funds own 54.24% of the company’s stock.

About Pan American Silver (NASDAQ:PAAS)

Pan American Silver Corp., together with its subsidiaries, engages in the exploration, development, extraction, processing, refining, and reclamation of silver mines. The company owns and operates mines located in Mexico, Peru, Canada, Argentina, and Bolivia. It also produces and sells gold, zinc, lead, and copper.

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