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

Defense World · Oct 4, 2022 01:21

Pan American Silver Corp. (NASDAQ:PAAS – Get Rating) (TSE:PAAS) saw unusually large options trading on Monday. Traders acquired 3,936 call options on the stock. This represents an increase of approximately 44% compared to the average daily volume of 2,731 call options.

Pan American Silver Stock Performance

NASDAQ:PAAS opened at $16.89 on Tuesday. The business's 50-day moving average price is $16.96 and its two-hundred day moving average price is $21.19. Pan American Silver has a twelve month low of $14.40 and a twelve month high of $30.56. The stock has a market cap of $3.56 billion, a P/E ratio of -54.48, a PEG ratio of 7.57 and a beta of 1.18. The company has a quick ratio of 1.22, a current ratio of 2.43 and a debt-to-equity ratio of 0.02.

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

Pan American Silver Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 2nd. Stockholders of record on Monday, August 22nd were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, August 19th. This represents a $0.48 annualized dividend and a dividend yield of 2.84%. Pan American Silver's dividend payout ratio (DPR) is presently -129.03%.

Analyst Upgrades and Downgrades

PAAS has been the subject of several research reports. TD Securities cut their price target on Pan American Silver from $26.00 to $23.00 and set a "buy" rating for the company in a research note on Friday, August 12th. StockNews.com cut Pan American Silver from a "hold" rating to a "sell" rating in a report on Wednesday, September 7th. TheStreet cut Pan American Silver from a "b-" rating to a "c-" rating in a report on Monday, September 12th. National Bank Financial dropped their price objective on Pan American Silver from C$39.00 to C$33.00 in a report on Monday, August 15th. Finally, Pi Financial reissued a "buy" rating on shares of Pan American Silver in a report on Saturday, July 30th. One investment analyst has rated the stock with a sell rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $32.17.

Hedge Funds Weigh In On Pan American Silver

Several institutional investors have recently modified their holdings of PAAS. Van ECK Associates Corp increased its position in shares of Pan American Silver by 7.1% during the 1st quarter. Van ECK Associates Corp now owns 22,401,326 shares of the basic materials company's stock valued at $611,556,000 after purchasing an additional 1,475,300 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of Pan American Silver by 47.7% during the 2nd quarter. Renaissance Technologies LLC now owns 2,957,604 shares of the basic materials company's stock valued at $58,168,000 after purchasing an additional 954,800 shares during the last quarter. Contrarius Investment Management Ltd bought a new position in Pan American Silver during the 1st quarter worth approximately $17,718,000. Assenagon Asset Management S.A. bought a new position in Pan American Silver during the 2nd quarter worth approximately $8,461,000. Finally, Crossmark Global Holdings Inc. bought a new position in Pan American Silver during the 1st quarter worth approximately $9,980,000. 45.21% of the stock is currently owned by institutional investors.

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.