Caisse de depot et placement du Quebec bought a new position in Pan American Silver Corp. (NYSE:PAAS – Free Report) (TSE:PAAS) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 419,522 shares of the basic materials company’s stock, valued at approximately $18,800,000. Caisse de depot et placement du Quebec owned about 0.10% of Pan American Silver as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also made changes to their positions in the company. Parallel Advisors LLC boosted its position in Pan American Silver by 151.8% in the third quarter. Parallel Advisors LLC now owns 642 shares of the basic materials company’s stock valued at $25,000 after buying an additional 387 shares in the last quarter. NFJ Investment Group LLC acquired a new stake in shares of Pan American Silver during the second quarter worth approximately $25,000. Fifth Third Bancorp raised its stake in shares of Pan American Silver by 1,336.1% in the first quarter. Fifth Third Bancorp now owns 517 shares of the basic materials company’s stock valued at $28,000 after acquiring an additional 481 shares during the last quarter. Danske Bank A S bought a new position in shares of Pan American Silver in the second quarter valued at approximately $30,000. Finally, Caitong International Asset Management Co. Ltd acquired a new position in shares of Pan American Silver in the 4th quarter worth approximately $34,000. Institutional investors and hedge funds own 55.43% of the company’s stock.
Pan American Silver Stock Performance
Shares of Pan American Silver stock opened at $53.00 on Friday. 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 firm has a 50 day simple moving average of $46.65 and a 200 day simple moving average of $52.70. Pan American Silver Corp. has a fifty-two week low of $32.95 and a fifty-two week high of $69.99. The firm has a market cap of $22.10 billion, a P/E ratio of 16.01, a P/E/G ratio of 5.12 and a beta of 0.73.
Pan American Silver Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, September 4th. Stockholders of record on Monday, August 24th will be paid a dividend of $0.184 per share. This represents a $0.74 annualized dividend and a dividend yield of 1.4%. This is a boost from Pan American Silver’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend is Monday, August 24th. Pan American Silver’s payout ratio is currently 22.36%.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently commented on PAAS shares. Bank of America decreased their price target on Pan American Silver from $77.00 to $69.00 and set a “buy” rating on the stock in a research report on Thursday, July 9th. TD Securities raised Pan American Silver from a “hold” rating to a “buy” rating and set a $72.00 price objective on the stock in a research note on Monday, May 11th. Weiss Ratings cut Pan American Silver from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, July 16th. Scotiabank restated an “outperform” rating on shares of Pan American Silver in a research note on Tuesday, July 14th. Finally, TD Cowen raised Pan American Silver from a “hold” rating to a “buy” rating and lifted their price target for the company from $67.00 to $72.00 in a report on Tuesday, May 12th. Eight research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Pan American Silver presently has an average rating of “Moderate Buy” and an average price target of $70.43.
Read Our Latest Research Report on PAAS
Pan American Silver Company 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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