Pan American Silver Target of Unusually High Options Trading (NASDAQ:PAAS)

Pan American Silver Corp. (NASDAQ:PAASGet Rating) (TSE:PAAS) was the recipient of unusually large options trading activity on Tuesday. Stock traders acquired 10,784 call options on the stock. This represents an increase of approximately 220% compared to the typical daily volume of 3,373 call options.

Hedge Funds Weigh In On Pan American Silver

A number of hedge funds and other institutional investors have recently bought and sold shares of PAAS. Van ECK Associates Corp grew its stake in Pan American Silver by 7.1% in the 1st quarter. Van ECK Associates Corp now owns 22,401,326 shares of the basic materials company’s stock worth $611,556,000 after buying an additional 1,475,300 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Pan American Silver by 47.7% in the 2nd quarter. Renaissance Technologies LLC now owns 2,957,604 shares of the basic materials company’s stock worth $58,168,000 after acquiring an additional 954,800 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Pan American Silver by 45.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,176,665 shares of the basic materials company’s stock worth $34,564,000 after acquiring an additional 682,040 shares during the last quarter. Contrarius Investment Management Ltd bought a new stake in shares of Pan American Silver in the 1st quarter worth approximately $17,718,000. Finally, Assenagon Asset Management S.A. bought a new stake in shares of Pan American Silver in the 2nd quarter worth approximately $8,461,000. Hedge funds and other institutional investors own 45.21% of the company’s stock.

Pan American Silver Price Performance

Shares of NASDAQ:PAAS opened at $16.00 on Thursday. The company has a 50 day moving average of $15.65 and a 200 day moving average of $18.19. The stock has a market cap of $3.37 billion, a P/E ratio of -21.33 and a beta of 1.15. Pan American Silver has a 12 month low of $13.40 and a 12 month high of $30.56. The company has a current ratio of 2.12, a quick ratio of 0.96 and a debt-to-equity ratio of 0.02.

Pan American Silver Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 2nd. Shareholders of record on Monday, November 21st will be paid a $0.10 dividend. The ex-dividend date of this dividend is Friday, November 18th. This represents a $0.40 dividend on an annualized basis and a yield of 2.50%. Pan American Silver’s dividend payout ratio is presently -53.33%.

Analysts Set New Price Targets

PAAS has been the subject of several analyst reports. National Bank Financial lowered their target price on shares of Pan American Silver from C$33.00 to C$31.50 in a report on Thursday, October 13th. TD Securities lowered their target price on shares of Pan American Silver from $22.00 to $20.00 and set a “buy” rating for the company in a report on Friday, November 11th. StockNews.com upgraded shares of Pan American Silver from a “sell” rating to a “hold” rating in a report on Thursday, November 10th. Pi Financial reiterated a “buy” rating on shares of Pan American Silver in a report on Saturday, July 30th. Finally, TheStreet downgraded shares of Pan American Silver from a “b-” rating to a “c-” rating in a report on Monday, September 12th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Pan American Silver presently has an average rating of “Moderate Buy” and a consensus price target of $28.10.

About Pan American Silver

(Get Rating)

Pan American Silver Corp., together with its subsidiaries, engages in the exploration, mine development, extraction, processing, refining, and reclamation of silver, gold, zinc, lead, and copper mines in Canada, Mexico, Peru, Argentina, and Bolivia. It holds interests in the La Colorada, Dolores, Huaron, Morococha, Shahuindo, La Arena, Timmins West, Bell Creek, Manantial Espejo, San Vicente, Joaquin, Cap-Oeste Sur Este, and Navidad mines.

Further Reading

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