Engineers Gate Manager LP Has $5.19 Million Stock Position in Pan American Silver Corp. $PAAS

Engineers Gate Manager LP cut its holdings in Pan American Silver Corp. (NYSE:PAASFree Report) (TSE:PAAS) by 23.8% in the second quarter, HoldingsChannel reports. The firm owned 115,814 shares of the basic materials company’s stock after selling 36,146 shares during the period. Engineers Gate Manager LP’s holdings in Pan American Silver were worth $5,187,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of PAAS. Invesco Ltd. raised its holdings in Pan American Silver by 9.8% during the third quarter. Invesco Ltd. now owns 9,898,397 shares of the basic materials company’s stock valued at $383,365,000 after buying an additional 882,135 shares in the last quarter. BlackRock Inc. bought a new stake in shares of Pan American Silver during the 2nd quarter worth about $375,948,000. FIL Ltd boosted its stake in shares of 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 worth $378,872,000 after acquiring an additional 4,438,478 shares in the last quarter. Norges Bank acquired a new position in shares of Pan American Silver during the 4th quarter valued at about $303,611,000. Finally, Capital International Investors acquired a new position in shares of Pan American Silver during the 4th quarter valued at about $215,484,000. 55.43% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Weiss Ratings lowered Pan American Silver from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, July 16th. Scotiabank reiterated an “outperform” rating on shares of Pan American Silver in a report on Tuesday, July 14th. BMO Capital Markets reissued a “market perform” rating on shares of Pan American Silver in a research report on Thursday, August 13th. Zacks Research upgraded shares of Pan American Silver from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 18th. Finally, Wall Street Zen downgraded shares of Pan American Silver from a “buy” rating to a “hold” rating in a report on Saturday, August 15th. Seven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $70.43.

Check Out Our Latest Stock Report on PAAS

Pan American Silver Trading Down 0.7%

Pan American Silver stock opened at $50.30 on Friday. Pan American Silver Corp. has a 52 week low of $33.08 and a 52 week high of $69.99. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.23 and a current ratio of 2.94. The firm has a market capitalization of $20.88 billion, a PE ratio of 15.20, a PEG ratio of 4.98 and a beta of 0.77. The business’s 50-day simple moving average is $47.80 and its 200-day simple moving average is $52.17.

Pan American Silver (NYSE:PAASGet Free Report) (TSE:PAAS) last announced its earnings results on Wednesday, August 12th. The basic materials company reported $0.73 earnings per share for the quarter, missing the consensus estimate of $0.84 by ($0.11). The business had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.16 billion. Pan American Silver had a net margin of 32.04% and a return on equity of 20.01%. Pan American Silver’s revenue for the quarter was up 38.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.43 EPS. Equities research analysts forecast that Pan American Silver Corp. will post 3.81 earnings per share for the current year.

Pan American Silver Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 4th. Stockholders of record on Monday, August 24th were issued a dividend of $0.184 per share. This represents a $0.74 dividend on an annualized basis and a dividend yield of 1.5%. This is a boost from Pan American Silver’s previous quarterly dividend of $0.18. The ex-dividend date was Monday, August 24th. Pan American Silver’s dividend payout ratio is presently 22.36%.

Pan American Silver Company Profile

(Free Report)

Pan American Silver Corp. is a mining company focused primarily on the exploration, development and production of silver and gold. Its operations also produce byproduct metals, including zinc, lead and copper, depending on the mine and ore deposit.

Founded in 1994 and headquartered in Vancouver, British Columbia, Pan American Silver operates mines and development projects across the Americas. The company’s geographic footprint has included Canada, Mexico, Peru, Bolivia, Argentina, Chile and Brazil, giving it exposure to several of the region’s major silver and gold mining jurisdictions.

Pan American expanded its portfolio through the acquisition of Yamana Gold’s Latin American assets in 2023.

Further Reading

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Institutional Ownership by Quarter for Pan American Silver (NYSE:PAAS)

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