PDC Energy, Inc. (NASDAQ:PDCE) [Trend Analysis] attempts to attain leading position in street, Shares price changes as it 2.65% to close at $66.54 with the total traded volume of 7.95 Million shares. PDC Energy, Inc. (PDCE) revealed that it has priced concurrent underwritten public offerings of 7,900,000 shares of its ordinary stock for total gross proceeds of about $500 million and $175 million of its convertible senior notes due 2021.
J.P. Morgan, BofA Merrill Lynch, BMO Capital Markets and Wells Fargo Securities are serving as joint book-running managers for each of the ordinary stock offering and the notes offering. The notes will be the Firm’s senior unsecured obligations and will bear interest at a rate of 1.125% per annum, payable semi-yearlyly in arrears on March 15 and September 15 of each year, commencing on March 15, 2017.
The notes will be convertible at the option of holders in certain circumstances and during certain periods into cash, shares of ordinary stock or a combination thereof at an initial conversion rate of 11.7113 shares per $1,000 principal amount of notes, which is equal to an initial conversion price of about $85.39 per share. The initial conversion price represents a premium of about 35% relative to the public offering price in the concurrent ordinary stock offering. The notes will mature on September 15, 2021, unless earlier repurchased or converted in accordance with their terms previous to that date. The Firm will not have the right to redeem the notes previous to maturity. Its price to sales ratio ended at 6.09. PDCE attains analyst recommendation of 2.00 with week performance of -0.15%.
Pan American Silver Corp. (NASDAQ:PAAS) [Trend Analysis] moved down reacts as active mover, shares a decrease -7.57% to traded at $17.82 and the percentage gap among open changing to regular change was -1.30%. Pan American Silver Corp. (PAAS) revealed that it has achieved important milestones at its two mine expansion projects presently underway in Mexico. At the Firm’s La Colorada mine, the new 618-metre deep shaft was commissioned in fully automatic mode in early September, ahead of schedule.
The shaft was constructed with a world-class safety performance of zero lost-time accidents incurred and using industry-leading raise boring and shaft automation technologies. The work remaining to complete the La Colorada expansion project comprises a new filter plant, power line and underground development. The project is now predictable to be completed about 5 to 10 percent under budget. At the Firm’s Dolores mine, the new 98 kilometre, 115 kV power line that connects the mine to the national power grid was energized in early September. The new power line was completed on budget and is predictable to result in yearly savings of about $9 million. The firm’s current ratio calculated as 3.50 for the most recent quarter. The firm past twelve months price to sales ratio was 4.40 and price to cash ratio remained 14.50. As far as the returns are concern, the return on equity was recorded as -12.30% and return on investment was -16.60% while its return on asset stayed at -9.30%. The firm has total debt to equity ratio measured as 0.04.