Pan American Silver Corp. (NASDAQ:PAAS) Sees Large Growth in Short Interest
Pan American Silver Corp. (NASDAQ:PAAS) (TSE:PAAS) was the target of a large growth in short interest during the month of January. As of January 31st, there was short interest totalling 13,120,000 shares, a growth of 12.6% from the January 15th total of 11,650,000 shares. Currently, 6.4% of the shares of the company are sold short. Based on an average daily trading volume, of 2,940,000 shares, the short-interest ratio is currently 4.5 days.
PAAS has been the subject of a number of recent research reports. BidaskClub upgraded Pan American Silver from a “buy” rating to a “strong-buy” rating in a research note on Thursday, November 21st. B. Riley reduced their price objective on Pan American Silver from $23.20 to $19.00 and set a “neutral” rating for the company in a research note on Monday, October 21st. Bank of America lowered Pan American Silver from a “neutral” rating to an “underperform” rating in a research note on Thursday, January 16th. Royal Bank of Canada reiterated a “buy” rating and set a $23.00 price objective on shares of Pan American Silver in a research note on Sunday, February 9th. Finally, Deutsche Bank lowered Pan American Silver from a “buy” rating to a “hold” rating and set a $22.00 price objective for the company. in a research note on Thursday, January 9th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Pan American Silver currently has a consensus rating of “Hold” and an average price target of $23.29.
Shares of NASDAQ:PAAS traded down $0.09 during trading on Friday, reaching $22.42. 2,452,929 shares of the company’s stock traded hands, compared to its average volume of 2,572,633. Pan American Silver has a fifty-two week low of $10.26 and a fifty-two week high of $24.02. The company has a quick ratio of 1.50, a current ratio of 2.76 and a debt-to-equity ratio of 0.14. The firm has a market cap of $4.70 billion, a PE ratio of 560.50, a P/E/G ratio of 7.74 and a beta of 0.27. The company has a 50-day simple moving average of $22.61 and a 200-day simple moving average of $18.99.
About Pan American Silver
Pan American Silver Corp., together with its subsidiaries, engages in the exploration, development, extraction, processing, refining, and reclamation of silver mines. The company owns and operates mines located in Mexico, Peru, Canada, Argentina, and Bolivia. It also produces and sells gold, zinc, lead, and copper.
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