Wealthfront Advisers LLC purchased a new stake in shares of Pan American Silver Corp. (NYSE:PAAS – Free Report) (TSE:PAAS) during the second quarter, HoldingsChannel.com reports. The fund purchased 11,953 shares of the basic materials company’s stock, valued at approximately $535,000.
Other large investors have also recently made changes to their positions in the company. Paladin Partners LLC purchased a new position in shares of Pan American Silver during the second quarter valued at approximately $40,000. BlackRock Inc. purchased a new stake in Pan American Silver during the 2nd quarter valued at $375,948,000. Dunhill Financial LLC bought a new position in shares of Pan American Silver during the 2nd quarter valued at $70,000. Deutsche Bank AG bought a new position in shares of Pan American Silver during the 2nd quarter valued at $79,583,000. Finally, Trust Co. of Vermont purchased a new position in shares of Pan American Silver in the 2nd quarter worth $59,000. 55.43% of the stock is currently owned by institutional investors.
Pan American Silver Trading Up 2.3%
Shares of Pan American Silver stock opened at $53.11 on Friday. Pan American Silver Corp. has a 1-year low of $31.60 and a 1-year high of $69.99. The company’s fifty day simple moving average is $46.31 and its 200-day simple moving average is $52.75. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.94 and a quick ratio of 2.23. The stock has a market capitalization of $22.15 billion, a PE ratio of 16.05, a P/E/G ratio of 4.82 and a beta of 0.73.
Pan American Silver Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, September 4th. Shareholders of record on Monday, August 24th will be given a $0.184 dividend. The ex-dividend date is Monday, August 24th. This is a positive change from Pan American Silver’s previous quarterly dividend of $0.18. This represents a $0.74 dividend on an annualized basis and a yield of 1.4%. Pan American Silver’s dividend payout ratio (DPR) is currently 21.75%.
Wall Street Analysts Forecast Growth
PAAS has been the subject of several research analyst reports. Bank of America cut their price objective on Pan American Silver from $77.00 to $69.00 and set a “buy” rating for the company in a report on Thursday, July 9th. Scotiabank reissued an “outperform” rating on shares of Pan American Silver in a research report on Tuesday, July 14th. Weiss Ratings downgraded Pan American Silver from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, July 16th. Wall Street Zen lowered shares of Pan American Silver from a “buy” rating to a “hold” rating in a research report on Saturday, August 15th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $75.00 price target on shares of Pan American Silver in a research report on Tuesday, April 28th. Eight investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $70.43.
About Pan American Silver
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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