Pan American Silver Sees Unusually Large Options Volume (PAAS)

Pan American Silver Corp. (NASDAQ:PAAS) (TSE:PAAS) was the target of unusually large options trading activity on Thursday. Stock investors purchased 2,582 put options on the company. This is an increase of 1,204% compared to the average daily volume of 198 put options.

Hedge funds have recently made changes to their positions in the stock. Magnetar Financial LLC lifted its stake in shares of Pan American Silver by 109.3% during the 3rd quarter. Magnetar Financial LLC now owns 87,729 shares of the basic materials company’s stock valued at $1,496,000 after buying an additional 45,823 shares in the last quarter. Private Advisor Group LLC lifted its stake in shares of Pan American Silver by 69.8% during the 3rd quarter. Private Advisor Group LLC now owns 35,794 shares of the basic materials company’s stock valued at $640,000 after buying an additional 14,714 shares in the last quarter. Shell Asset Management Co. lifted its stake in shares of Pan American Silver by 148.3% during the 3rd quarter. Shell Asset Management Co. now owns 37,145 shares of the basic materials company’s stock valued at $457,000 after buying an additional 22,186 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Pan American Silver by 452.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 431,069 shares of the basic materials company’s stock valued at $7,251,000 after buying an additional 353,037 shares in the last quarter. Finally, AJO LP purchased a new stake in shares of Pan American Silver during the 2nd quarter valued at approximately $12,239,000. Institutional investors own 53.89% of the company’s stock.

Pan American Silver (NASDAQ PAAS) opened at $16.66 on Friday. The firm has a market cap of $2,550.00, a P/E ratio of 27.31, a PEG ratio of 6.94 and a beta of 0.09. Pan American Silver has a 52-week low of $13.99 and a 52-week high of $21.29.

Pan American Silver (NASDAQ:PAAS) (TSE:PAAS) last announced its quarterly earnings results on Wednesday, November 8th. The basic materials company reported $0.15 EPS for the quarter, beating the Zacks’ consensus estimate of $0.13 by $0.02. The company had revenue of $190.79 million for the quarter, compared to analysts’ expectations of $199.43 million. Pan American Silver had a net margin of 12.23% and a return on equity of 5.12%. Pan American Silver’s revenue was down 18.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.24 EPS. equities analysts anticipate that Pan American Silver will post 0.49 EPS for the current year.

A number of research firms have recently weighed in on PAAS. BMO Capital Markets reissued a “hold” rating and set a $17.50 target price on shares of Pan American Silver in a research report on Wednesday, September 20th. Canaccord Genuity reissued a “buy” rating and set a $23.00 target price on shares of Pan American Silver in a research report on Friday, October 6th. Royal Bank of Canada set a $23.00 target price on shares of Pan American Silver and gave the company a “buy” rating in a research report on Tuesday, October 17th. B. Riley reissued a “neutral” rating on shares of Pan American Silver in a research report on Wednesday, November 1st. Finally, Citigroup raised shares of Pan American Silver to an “outperform” rating in a research report on Tuesday, November 21st. One research analyst has rated the stock with a sell rating, one has issued a hold rating and thirteen have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $20.92.

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About Pan American Silver

Pan American Silver Corp. is a silver production company. The Company is principally engaged in the operation and development of, and exploration for, silver producing properties. The Company’s segments include Peru, Mexico, Argentina and Bolivia. The Company also produces and sells gold, zinc, lead and copper.

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