Pan American Silver Corp. (NYSE:PAAS) Sees Significant Decrease in Short Interest

Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) was the recipient of a significant decrease in short interest in the month of January. As of January 31st, there was short interest totalling 6,260,000 shares, a decrease of 19.7% from the January 15th total of 7,800,000 shares. Based on an average daily volume of 3,130,000 shares, the days-to-cover ratio is currently 2.0 days.

Analyst Ratings Changes

Several analysts have recently commented on the stock. StockNews.com lowered shares of Pan American Silver from a “buy” rating to a “hold” rating in a research report on Sunday, December 1st. Royal Bank of Canada upped their price objective on Pan American Silver from $28.00 to $30.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 11th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $25.92.

Pan American Silver Stock Down 2.6 %

Shares of NYSE:PAAS traded down $0.65 during trading on Friday, hitting $24.43. 3,909,858 shares of the company were exchanged, compared to its average volume of 2,849,540. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.06 and a quick ratio of 0.96. The firm’s 50 day moving average price is $22.19 and its 200-day moving average price is $21.83. The stock has a market capitalization of $8.87 billion, a P/E ratio of -143.67 and a beta of 1.28. Pan American Silver has a 12-month low of $12.19 and a 12-month high of $26.05.

Hedge Funds Weigh In On Pan American Silver

Several hedge funds have recently made changes to their positions in PAAS. Comprehensive Financial Planning Inc. PA purchased a new position in Pan American Silver during the 4th quarter worth approximately $27,000. Eastern Bank acquired a new stake in shares of Pan American Silver in the third quarter valued at approximately $28,000. Laurel Wealth Advisors LLC purchased a new position in shares of Pan American Silver during the fourth quarter worth approximately $30,000. Wilmington Savings Fund Society FSB purchased a new position in Pan American Silver during the 3rd quarter worth $32,000. Finally, Decker Retirement Planning Inc. acquired a new position in Pan American Silver in the fourth quarter valued at $32,000. Hedge funds and other institutional investors own 55.43% of the company’s stock.

Pan American Silver Company Profile

Pan American Silver Corp. engages in the exploration, mine development, extraction, processing, refining, and reclamation of silver, gold, zinc, lead, and copper mines in Canada, Mexico, Peru, Bolivia, Argentina, Chile, and Brazil. The company was formerly known as Pan American Minerals Corp. and changed its name to Pan American Silver Corp.