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

Pan American Silver Corp. (NASDAQ:PAAS) (TSE:PAAS) saw unusually large options trading activity on Thursday. Traders bought 2,582 put options on the stock. This is an increase of 1,204% compared to the average daily volume of 198 put options.

Hedge funds have recently modified their holdings of the company. Cerebellum GP LLC purchased a new stake in shares of Pan American Silver during the fourth quarter worth about $126,000. SG Americas Securities LLC purchased a new stake in shares of Pan American Silver during the fourth quarter worth about $131,000. Alliancebernstein L.P. purchased a new stake in shares of Pan American Silver during the second quarter worth about $170,000. Quantbot Technologies LP purchased a new stake in shares of Pan American Silver during the third quarter worth about $177,000. Finally, Virtu Financial LLC purchased a new stake in shares of Pan American Silver during the third quarter worth about $178,000. Institutional investors and hedge funds own 54.05% of the company’s stock.

Several research analysts have commented on PAAS shares. Royal Bank of Canada set a $23.00 price objective on shares of Pan American Silver and gave the stock a “buy” rating in a research note on Tuesday, October 17th. B. Riley reiterated a “neutral” rating on shares of Pan American Silver in a research report on Wednesday, November 1st. BMO Capital Markets initiated coverage on Pan American Silver in a research report on Friday, November 17th. They set a “buy” rating and a $20.00 target price for the company. Citigroup upgraded Pan American Silver to an “outperform” rating in a research report on Tuesday, November 21st. Finally, Raymond James Financial upgraded Pan American Silver from a “market perform” rating to an “outperform” rating in a research report on Tuesday, November 21st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and thirteen have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $20.91.

Shares of Pan American Silver (NASDAQ:PAAS) traded up $0.20 during trading on Monday, reaching $16.11. 1,925,240 shares of the company’s stock were exchanged, compared to its average volume of 1,578,239. The company has a market capitalization of $2,440.00, a P/E ratio of 26.41, a PEG ratio of 5.25 and a beta of 0.20. Pan American Silver has a fifty-two week low of $13.99 and a fifty-two week high of $21.29.

Pan American Silver (NASDAQ:PAAS) (TSE:PAAS) last announced its earnings results on Wednesday, November 8th. The basic materials company reported $0.15 EPS for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.02. Pan American Silver had a net margin of 12.23% and a return on equity of 5.12%. The business had revenue of $190.79 million during the quarter, compared to the consensus estimate of $199.43 million. During the same period in the previous year, the company posted $0.24 earnings per share. The firm’s revenue was down 18.3% on a year-over-year basis. sell-side analysts forecast that Pan American Silver will post 0.5 EPS for the current fiscal year.

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Pan American Silver Company Profile

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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