Pan American Silver Corp. (NASDAQ:PAAS) (TSE:PAAS)’s share price shot up 5% during trading on Wednesday . The company traded as high as $16.42 and last traded at $16.39, 4,484,287 shares were traded during trading. An increase of 89% from the average session volume of 2,371,350 shares. The stock had previously closed at $15.61.
A number of brokerages recently commented on PAAS. Zacks Investment Research upgraded General Moly from a “sell” rating to a “hold” rating in a report on Thursday, July 11th. BidaskClub cut Westport Fuel Systems from a “buy” rating to a “hold” rating in a report on Friday, July 19th. Deutsche Bank lowered their target price on Vornado Realty Trust from $80.00 to $73.00 and set a “hold” rating for the company in a report on Wednesday, April 10th. Finally, ValuEngine upgraded United States Steel from a “strong sell” rating to a “sell” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $16.68.
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 company has a market capitalization of $3.27 billion, a P/E ratio of 42.03, a price-to-earnings-growth ratio of 13.65 and a beta of 0.14. The stock’s 50-day moving average price is $12.94.
Pan American Silver (NASDAQ:PAAS) (TSE:PAAS) last posted its quarterly earnings results on Wednesday, May 8th. The basic materials company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.03. The company had revenue of $232.60 million for the quarter, compared to analyst estimates of $240.67 million. Pan American Silver had a positive return on equity of 2.11% and a negative net margin of 0.34%. Pan American Silver’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.20 EPS. On average, equities research analysts anticipate that Pan American Silver Corp. will post 0.29 EPS for the current fiscal year.
Hedge funds have recently bought and sold shares of the business. PNC Financial Services Group Inc. raised its position in shares of Pan American Silver by 83.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 4,400 shares of the basic materials company’s stock worth $64,000 after acquiring an additional 2,000 shares in the last quarter. Cullen Frost Bankers Inc. acquired a new stake in shares of Pan American Silver during the 1st quarter worth about $80,000. NumerixS Investment Technologies Inc acquired a new stake in shares of Pan American Silver during the 1st quarter worth about $106,000. Investors Research Corp acquired a new stake in shares of Pan American Silver during the 1st quarter worth about $131,000. Finally, Cetera Advisor Networks LLC acquired a new stake in shares of Pan American Silver during the 1st quarter worth about $135,000. 54.15% of the stock is currently owned by institutional investors.
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.