Shares of Pan American Silver Corp. (NASDAQ:PAAS) (TSE:PAAS) saw unusually-high trading volume on Thursday after the company announced better than expected quarterly earnings. Approximately 5,679,379 shares traded hands during mid-day trading, an increase of 192% from the previous session’s volume of 1,947,570 shares.The stock last traded at $17.64 and had previously closed at $15.96.

The basic materials company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.06. Pan American Silver Corp. had a return on equity of 6.13% and a net margin of 14.56%. The firm had revenue of $201.30 million during the quarter, compared to the consensus estimate of $184.96 million. During the same period last year, the company earned $0.13 earnings per share. The company’s revenue was up 4.7% on a year-over-year basis.

PAAS has been the subject of several analyst reports. Zacks Investment Research downgraded Pan American Silver Corp. from a “buy” rating to a “hold” rating in a report on Friday, May 12th. BMO Capital Markets restated a “hold” rating and set a $17.50 price target on shares of Pan American Silver Corp. in a report on Thursday, June 29th. BidaskClub cut Pan American Silver Corp. from a “hold” rating to a “sell” rating in a research report on Thursday. Credit Suisse Group reaffirmed a “neutral” rating on shares of Pan American Silver Corp. in a research report on Tuesday, April 18th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and set a $22.00 price objective on shares of Pan American Silver Corp. in a research report on Tuesday, May 30th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $19.83.

Several large investors have recently added to or reduced their stakes in PAAS. Russell Investments Group Ltd. boosted its stake in Pan American Silver Corp. by 149.4% in the first quarter. Russell Investments Group Ltd. now owns 293,362 shares of the basic materials company’s stock valued at $5,101,000 after buying an additional 175,744 shares during the period. SG Americas Securities LLC acquired a new stake in Pan American Silver Corp. during the first quarter valued at approximately $164,000. Wells Fargo & Company MN boosted its stake in Pan American Silver Corp. by 51.6% in the first quarter. Wells Fargo & Company MN now owns 498,029 shares of the basic materials company’s stock valued at $8,726,000 after buying an additional 169,511 shares during the period. Swiss National Bank boosted its stake in Pan American Silver Corp. by 1.0% in the first quarter. Swiss National Bank now owns 254,600 shares of the basic materials company’s stock valued at $4,457,000 after buying an additional 2,600 shares during the period. Finally, Schroder Investment Management Group acquired a new stake in Pan American Silver Corp. during the first quarter valued at approximately $8,204,000. 49.98% of the stock is currently owned by institutional investors.

The company’s 50 day moving average is $16.49 and its 200-day moving average is $17.50. The firm has a market cap of $2.70 billion, a P/E ratio of 22.82 and a beta of 0.29.

ILLEGAL ACTIVITY WARNING: This report was first reported by Watch List News and is the sole property of of Watch List News. If you are accessing this report on another site, it was stolen and reposted in violation of international copyright & trademark law. The original version of this report can be read at https://www.watchlistnews.com/pan-american-silver-corp-paas-sees-large-volume-increase-on-better-than-expected-earnings/1469721.html.

About Pan American Silver Corp.

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.

Receive News & Ratings for Pan American Silver Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pan American Silver Corp. and related companies with Analyst Ratings Network's FREE daily email newsletter.