Entropy Technologies LP purchased a new stake in shares of Pan American Silver Corp. (NYSE:PAAS – Free Report) (TSE:PAAS) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor purchased 169,905 shares of the basic materials company’s stock, valued at approximately $9,282,000.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PAAS. Norges Bank purchased a new position in shares of Pan American Silver during the fourth quarter valued at approximately $303,611,000. FIL Ltd raised its holdings in shares of Pan American Silver by 154.7% in the fourth quarter. FIL Ltd now owns 7,307,777 shares of the basic materials company’s stock worth $378,872,000 after buying an additional 4,438,478 shares during the period. Capital International Investors purchased a new stake in shares of Pan American Silver in the fourth quarter worth approximately $215,484,000. Bank of America Corp DE lifted its stake in shares of Pan American Silver by 148.3% during the 2nd quarter. Bank of America Corp DE now owns 3,368,233 shares of the basic materials company’s stock worth $95,658,000 after acquiring an additional 2,011,862 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new stake in shares of Pan American Silver during the 1st quarter worth approximately $71,141,000. 55.43% of the stock is owned by hedge funds and other institutional investors.
Pan American Silver Stock Down 0.4%
Shares of NYSE PAAS opened at $44.03 on Friday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.11 and a current ratio of 2.84. The firm has a market capitalization of $18.36 billion, a price-to-earnings ratio of 14.16, a PEG ratio of 3.91 and a beta of 0.72. The stock has a 50 day moving average price of $48.07 and a 200 day moving average price of $54.17. Pan American Silver Corp. has a 52-week low of $26.76 and a 52-week high of $69.99.
Pan American Silver Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Tuesday, May 19th were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.6%. The ex-dividend date was Tuesday, May 19th. Pan American Silver’s payout ratio is presently 23.15%.
Analyst Ratings Changes
A number of equities analysts recently issued reports on PAAS shares. Weiss Ratings cut Pan American Silver from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, July 16th. Bank of America reduced their target price on Pan American Silver from $77.00 to $69.00 and set a “buy” rating on the stock in a research note on Thursday, July 9th. Royal Bank Of Canada reiterated an “outperform” rating and set a $75.00 target price on shares of Pan American Silver in a research report on Tuesday, April 28th. Scotiabank reissued an “outperform” rating on shares of Pan American Silver in a research note on Tuesday, July 14th. Finally, Wall Street Zen cut shares of Pan American Silver from a “strong-buy” rating to a “buy” rating in a report on Sunday, July 12th. Eight analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $70.43.
Read Our Latest Analysis on PAAS
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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