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Stock Traders Purchase High Volume of Call Options on Pan American Silver (NASDAQ:PAAS)

kopsource · Oct 3, 2022 12:05

Pan American Silver Corp. (NASDAQ:PAAS – Get Rating) (TSE:PAAS) was the recipient of unusually large options trading on Monday. Stock traders bought 3,936 call options on the company. This represents an increase of approximately 44% compared to the typical daily volume of 2,731 call options.

Institutional Trading of Pan American Silver

Hedge funds and other institutional investors have recently made changes to their positions in the business. CIBC Asset Management Inc increased its stake in shares of Pan American Silver by 2.1% in the first quarter. CIBC Asset Management Inc now owns 278,305 shares of the basic materials company's stock valued at $7,604,000 after buying an additional 5,716 shares in the last quarter. American Trust acquired a new stake in shares of Pan American Silver in the fourth quarter valued at $232,000. Brightlight Capital Management LP increased its stake in shares of Pan American Silver by 68.2% in the first quarter. Brightlight Capital Management LP now owns 732,000 shares of the basic materials company's stock valued at $19,984,000 after buying an additional 296,700 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Pan American Silver by 5.3% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,233,059 shares of the basic materials company's stock valued at $115,563,000 after buying an additional 211,279 shares in the last quarter. Finally, Freemont Management S.A. bought a new position in Pan American Silver in the first quarter valued at about $7,958,000. 45.21% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. National Bank Financial decreased their target price on Pan American Silver from C$39.00 to C$33.00 in a research report on Monday, August 15th. StockNews.com cut Pan American Silver from a "hold" rating to a "sell" rating in a research report on Wednesday, September 7th. Pi Financial reaffirmed a "buy" rating on shares of Pan American Silver in a research report on Saturday, July 30th. TheStreet cut Pan American Silver from a "b-" rating to a "c-" rating in a research report on Monday, September 12th. Finally, TD Securities decreased their target price on Pan American Silver from $26.00 to $23.00 and set a "buy" rating for the company in a research report on Friday, August 12th. One investment analyst has rated the stock with a sell rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, Pan American Silver has a consensus rating of "Moderate Buy" and an average target price of $32.17.

Pan American Silver Price Performance

PAAS stock traded up $0.91 during midday trading on Monday, hitting $16.79. The stock had a trading volume of 168,507 shares, compared to its average volume of 2,530,577. Pan American Silver has a 52 week low of $14.40 and a 52 week high of $30.56. The stock has a 50-day simple moving average of $16.99 and a 200 day simple moving average of $21.27. The company has a quick ratio of 1.22, a current ratio of 2.43 and a debt-to-equity ratio of 0.02.

Pan American Silver (NASDAQ:PAAS – Get Rating) (TSE:PAAS) last released its quarterly earnings data on Wednesday, August 10th. The basic materials company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.17). Pan American Silver had a positive return on equity of 3.95% and a negative net margin of 3.76%. The company had revenue of $340.47 million for the quarter, compared to analyst estimates of $406.33 million. On average, analysts expect that Pan American Silver will post 0.25 earnings per share for the current year.

Pan American Silver Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 2nd. Shareholders of record on Monday, August 22nd were paid a dividend of $0.12 per share. The ex-dividend date was Friday, August 19th. This represents a $0.48 annualized dividend and a yield of 2.86%. Pan American Silver's dividend payout ratio is currently -129.03%.

About Pan American Silver

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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.