114,080 Shares in Pan American Silver Corp. $PAAS Purchased by Alberta Investment Management Corp

Key Points

• Alberta Investment Management Corp. purchased 114,080 Pan American Silver shares worth approximately $5.1 million in the second quarter. Institutional investors and hedge funds collectively own 55.43% of PAAS.
• Analyst sentiment remains generally positive, with eight Buy ratings, two Holds and one Sell; MarketBeat reports a “Moderate Buy” consensus and an average price target of $70.43.
• Pan American Silver’s latest quarter showed 38.4% year-over-year revenue growth, though earnings and revenue missed estimates. The company raised its quarterly dividend to $0.184, equal to a 1.5% annualized yield.

Alberta Investment Management Corp purchased a new stake in Pan American Silver Corp. (NYSE:PAAS - Free Report) TSE: PAAS during the second quarter, according to its most recent disclosure with the SEC. The firm purchased 114,080 shares of the basic materials company's stock, valued at approximately $5,109,000.

Several other institutional investors also recently bought and sold shares of PAAS. Bank of New York Mellon Corp acquired a new position in shares of Pan American Silver during the second quarter valued at approximately $21,883,000. GSA Capital Partners LLP acquired a new position in Pan American Silver in the 2nd quarter valued at $744,000. Steadtrust LLC raised its stake in Pan American Silver by 1.8% in the 2nd quarter. Steadtrust LLC now owns 133,150 shares of the basic materials company's stock valued at $5,964,000 after purchasing an additional 2,300 shares during the last quarter. PensionDanmark Pensionsforsikringsaktieselskab lifted its holdings in Pan American Silver by 339.4% in the 2nd quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 13,785 shares of the basic materials company's stock valued at $618,000 after purchasing an additional 10,648 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in Pan American Silver by 2,085.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 256,742 shares of the basic materials company's stock valued at $11,500,000 after purchasing an additional 244,996 shares in the last quarter. 55.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

PAAS has been the subject of a number of research reports. Bank of America dropped their target price on shares of Pan American Silver from $77.00 to $69.00 and set a "buy" rating for the company in a report on Thursday, July 9th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $75.00 price objective on shares of Pan American Silver in a research note on Tuesday, April 28th. TD Securities upgraded shares of Pan American Silver from a "hold" rating to a "buy" rating and set a $72.00 price objective for the company in a report on Monday, May 11th. Jefferies Financial Group cut 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 report on Monday, July 6th. Finally, Zacks Research lowered shares of Pan American Silver from a "hold" rating to a "strong sell" rating in a research note on Friday, July 17th. Eight equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $70.43.

Pan American Silver Stock Up 1.6%

Shares of PAAS opened at $48.19 on Tuesday. Pan American Silver Corp. has a 52-week low of $30.59 and a 52-week high of $69.99. The company has a quick ratio of 2.23, a current ratio of 2.94 and a debt-to-equity ratio of 0.11. The stock has a fifty day simple moving average of $45.97 and a two-hundred day simple moving average of $52.99. The company has a market capitalization of $20.10 billion, a PE ratio of 14.56, a price-to-earnings-growth ratio of 4.10 and a beta of 0.73.

Pan American Silver (NYSE:PAAS - Get Free Report) TSE: PAAS last announced its quarterly 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). Pan American Silver had a net margin of 32.04% and a return on equity of 20.01%. The firm had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same period in the previous year, the firm posted $0.43 EPS. The company's revenue was up 38.4% compared to the same quarter last year. As a group, equities analysts forecast that Pan American Silver Corp. will post 4.11 EPS for the current year.

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 $0.184 dividend. This is a positive change from Pan American Silver's previous quarterly dividend of $0.18. The ex-dividend date of this dividend is Monday, August 24th. This represents a $0.74 annualized dividend and a dividend yield of 1.5%. Pan American Silver's dividend payout ratio is currently 21.75%.

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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