Pan American Silver Sees Unusually High Options Volume (NYSE:PAAS)

Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) was the target of unusually large options trading on Monday. Stock traders purchased 10,358 call options on the stock. This is an increase of 69% compared to the average daily volume of 6,125 call options.

Pan American Silver Trading Down 15.5%

Shares of NYSE PAAS traded down $4.22 during trading on Monday, hitting $23.00. 7,379,688 shares of the company traded hands, compared to its average volume of 3,721,985. The company has a 50-day moving average price of $25.31 and a 200-day moving average price of $23.55. Pan American Silver has a 1 year low of $17.86 and a 1 year high of $28.60. The company has a quick ratio of 0.96, a current ratio of 2.50 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $8.33 billion, a P/E ratio of 72.83 and a beta of 0.75.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last posted its quarterly earnings results on Wednesday, May 7th. The basic materials company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.23. The firm had revenue of $773.20 million during the quarter, compared to the consensus estimate of $696.62 million. Pan American Silver had a return on equity of 6.14% and a net margin of 3.98%. The firm’s quarterly revenue was up 28.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.01 earnings per share. On average, equities analysts predict that Pan American Silver will post 1.26 EPS for the current year.

Pan American Silver Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Tuesday, May 20th will be issued a $0.10 dividend. The ex-dividend date is Tuesday, May 20th. This represents a $0.40 dividend on an annualized basis and a yield of 1.74%. Pan American Silver’s dividend payout ratio is currently 125.00%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in Pan American Silver by 1.0% during the first quarter. Vanguard Group Inc. now owns 14,146,213 shares of the basic materials company’s stock valued at $365,397,000 after buying an additional 138,028 shares in the last quarter. FIL Ltd boosted its holdings 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 valued at $270,848,000 after acquiring an additional 584,017 shares in the last quarter. Norges Bank bought a new stake in shares of Pan American Silver in the 4th quarter worth $91,916,000. Ameriprise Financial Inc. raised its stake in shares of Pan American Silver by 18.3% in the 4th quarter. Ameriprise Financial Inc. now owns 3,146,182 shares of the basic materials company’s stock worth $63,658,000 after buying an additional 486,622 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Pan American Silver by 32.2% in the 4th quarter. Geode Capital Management LLC now owns 2,027,461 shares of the basic materials company’s stock worth $40,776,000 after buying an additional 494,133 shares in the last quarter. Hedge funds and other institutional investors own 55.43% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. TD Securities cut Pan American Silver from a “buy” rating to a “hold” rating and decreased their target price for the company from $28.00 to $27.00 in a research report on Tuesday, March 11th. CIBC raised their price target on Pan American Silver from $38.00 to $42.00 and gave the company an “outperformer” rating in a report on Thursday. BMO Capital Markets initiated coverage on Pan American Silver in a report on Wednesday, April 16th. They issued a “market perform” rating for the company. Royal Bank of Canada raised their price objective on Pan American Silver from $28.00 to $30.00 and gave the company an “outperform” rating in a research note on Tuesday, February 11th. Finally, StockNews.com cut Pan American Silver from a “buy” rating to a “hold” rating in a report on Wednesday, April 2nd. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, Pan American Silver has an average rating of “Hold” and a consensus price target of $29.67.

Pan American Silver Company Profile

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.