Bank of New York Mellon Corp Acquires 639,204 Shares of Pan American Silver Corp. $PAAS

Bank of New York Mellon Corp grew its holdings in shares of Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) by 124.1% in the 2nd quarter, Holdings Channel reports. The fund owned 1,154,309 shares of the basic materials company’s stock after buying an additional 639,204 shares during the period. Bank of New York Mellon Corp’s holdings in Pan American Silver were worth $32,782,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in PAAS. Vontobel Holding Ltd. acquired a new position in Pan American Silver during the 2nd quarter worth approximately $2,521,000. Intech Investment Management LLC grew its stake in shares of Pan American Silver by 189.0% during the first quarter. Intech Investment Management LLC now owns 107,952 shares of the basic materials company’s stock worth $2,788,000 after buying an additional 70,593 shares during the last quarter. Triasima Portfolio Management inc. increased its holdings in shares of Pan American Silver by 29.1% during the second quarter. Triasima Portfolio Management inc. now owns 211,010 shares of the basic materials company’s stock worth $5,975,000 after buying an additional 47,500 shares in the last quarter. Bayforest Capital Ltd lifted its stake in shares of Pan American Silver by 107.8% in the 2nd quarter. Bayforest Capital Ltd now owns 21,927 shares of the basic materials company’s stock valued at $623,000 after acquiring an additional 11,373 shares during the last quarter. Finally, Oxbow Advisors LLC lifted its stake in shares of Pan American Silver by 34.3% in the 2nd quarter. Oxbow Advisors LLC now owns 449,985 shares of the basic materials company’s stock valued at $12,780,000 after acquiring an additional 114,875 shares during the last quarter. 55.43% of the stock is currently owned by institutional investors and hedge funds.

Pan American Silver Trading Up 1.7%

PAAS opened at $39.04 on Friday. Pan American Silver Corp. has a twelve month low of $19.80 and a twelve month high of $42.57. The company has a fifty day moving average of $37.15 and a 200-day moving average of $31.39. The stock has a market cap of $16.48 billion, a PE ratio of 26.92, a price-to-earnings-growth ratio of 0.44 and a beta of 0.63. The company has a quick ratio of 2.11, a current ratio of 3.05 and a debt-to-equity ratio of 0.15.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last issued its quarterly earnings results on Wednesday, November 12th. The basic materials company reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.01). Pan American Silver had a net margin of 16.80% and a return on equity of 11.49%. The firm had revenue of $854.60 million for the quarter, compared to the consensus estimate of $867.76 million. During the same period last year, the company posted $0.32 EPS. The business’s revenue was up 19.3% compared to the same quarter last year. On average, sell-side analysts predict that Pan American Silver Corp. will post 1.26 EPS for the current year.

Pan American Silver Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 5th. Investors of record on Monday, November 24th will be paid a dividend of $0.14 per share. This is an increase from Pan American Silver’s previous quarterly dividend of $0.12. This represents a $0.56 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Monday, November 24th. Pan American Silver’s payout ratio is 33.10%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on PAAS shares. National Bankshares reaffirmed an “outperform” rating on shares of Pan American Silver in a report on Friday, September 5th. CIBC boosted their price target on Pan American Silver from $50.00 to $62.00 and gave the stock an “outperformer” rating in a report on Friday, October 10th. Scotiabank raised their price objective on shares of Pan American Silver from $36.00 to $47.00 and gave the company an “outperform” rating in a report on Thursday, October 23rd. National Bank Financial raised shares of Pan American Silver to a “strong-buy” rating in a report on Thursday, September 4th. Finally, Zacks Research cut shares of Pan American Silver from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 19th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $41.25.

About Pan American Silver

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.