Royal Bank of Canada lowered its stake in Pan American Silver Corp. (NYSE:PAAS – Free Report) (TSE:PAAS) by 13.9% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 3,930,161 shares of the basic materials company’s stock after selling 636,897 shares during the quarter. Royal Bank of Canada’s holdings in Pan American Silver were worth $214,705,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Pan American Silver by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 17,465,779 shares of the basic materials company’s stock worth $905,513,000 after purchasing an additional 274,168 shares during the last quarter. Invesco Ltd. increased its stake in shares of Pan American Silver by 9.8% in the third quarter. Invesco Ltd. now owns 9,898,397 shares of the basic materials company’s stock worth $383,365,000 after buying an additional 882,135 shares during the period. FIL Ltd raised its holdings in Pan American Silver by 154.7% during the 4th quarter. FIL Ltd now owns 7,307,777 shares of the basic materials company’s stock valued at $378,872,000 after buying an additional 4,438,478 shares during the last quarter. Norges Bank bought a new stake in Pan American Silver during the 4th quarter valued at $303,611,000. Finally, Capital International Investors purchased a new stake in Pan American Silver during the 4th quarter valued at $215,484,000. Hedge funds and other institutional investors own 55.43% of the company’s stock.
Wall Street Analyst Weigh In
A number of brokerages have issued reports on PAAS. Wall Street Zen lowered shares of Pan American Silver from a “strong-buy” rating to a “buy” rating in a report on Sunday, July 12th. Jefferies Financial Group lowered their price objective on shares of Pan American Silver from $54.00 to $53.00 and set a “hold” rating for the company in a research note on Monday, July 6th. Weiss Ratings lowered shares of Pan American Silver from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, July 16th. Royal Bank Of Canada reissued an “outperform” rating and issued a $75.00 target price on shares of Pan American Silver in a research note on Tuesday, April 28th. Finally, Bank of America lowered their price target on Pan American Silver from $77.00 to $69.00 and set a “buy” rating for the company in a research report on Thursday, July 9th. Eight equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Pan American Silver has an average rating of “Moderate Buy” and an average target price of $70.43.
Pan American Silver Stock Down 1.7%
Shares of Pan American Silver stock opened at $42.50 on Thursday. The company has a current ratio of 2.84, a quick ratio of 2.11 and a debt-to-equity ratio of 0.11. The company’s fifty day simple moving average is $47.41 and its two-hundred day simple moving average is $53.95. The company has a market cap of $17.72 billion, a P/E ratio of 13.66, a PEG ratio of 3.71 and a beta of 0.72. Pan American Silver Corp. has a 12-month low of $26.76 and a 12-month high of $69.99.
Pan American Silver (NYSE:PAAS – Get Free Report) (TSE:PAAS) last posted its earnings results on Tuesday, May 5th. The basic materials company reported $1.09 EPS for the quarter, topping the consensus estimate of $1.06 by $0.03. Pan American Silver had a net margin of 31.66% and a return on equity of 19.50%. The firm had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.25 billion. During the same period last year, the company posted $0.42 EPS. The company’s quarterly revenue was up 49.3% compared to the same quarter last year. Research analysts anticipate that Pan American Silver Corp. will post 4.15 EPS for the current year.
Pan American Silver Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Tuesday, May 19th were issued a $0.18 dividend. The ex-dividend date was Tuesday, May 19th. This represents a $0.72 dividend on an annualized basis and a yield of 1.7%. Pan American Silver’s dividend payout ratio is 23.15%.
Pan American Silver Profile
Pan American Silver Corp. (NYSE: PAAS) is a Vancouver-based mining company and one of the world’s largest primary silver producers. The company’s core activities encompass the exploration, development, extraction and processing of silver, with significant by-product production of gold, zinc and lead. Pan American Silver maintains a vertically integrated operating model, covering the full mining value chain from resource discovery through to refined metal production.
With a geographic footprint concentrated across the Americas, Pan American Silver operates multiple mines in Mexico, Peru, Argentina and Bolivia, and is advancing several development and exploration projects in Chile and Ecuador.
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