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NEW YORK ( TheStreet) -- Pan American Silver Corporation (Nasdaq: PAAS) hit a new 52-week low Friday as it is currently trading at $19.88, below its previous 52-week low of $19.93 with 1.2 million shares traded as of 1:20 p.m. ET. Average volume has been two million shares over the past 30 days. Pan American has a market cap of $3.1 billion and is part of the basic materials sector and metals & mining industry. Shares are down 6.5% year to date as of the close of trading on Thursday. Pan American Silver Corp. explores, develops, and operates silver producing properties and assets. The company engages in silver mining and related activities, including exploration, mine development, extraction, processing, refining, and reclamation. The company has a P/E ratio of 6.1, equal to the average metals & mining industry P/E ratio and below the S&P 500 P/E ratio of 17.7.