1,831,607 Shares in Pan American Silver Corp. $PAAS Purchased by Bank of America Corp DE

Key Points

• Bank of America acquired 1,831,607 Pan American Silver shares worth approximately $82 million during the second quarter, giving it a 0.44% stake. Other institutional investors also initiated positions, and institutions collectively own 55.43% of the company.
• Pan American Silver reported quarterly revenue of $1.12 billion, up 38.4% year over year, but its $0.73 EPS missed analyst expectations of $0.84. Analysts expect full-year EPS of $3.81.
• The company raised its quarterly dividend to $0.184 per share, equivalent to $0.74 annually and a 1.5% yield. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $67.71.

Bank of America Corp DE acquired a new stake in Pan American Silver Corp. (NYSE:PAAS - Free Report) TSE: PAAS during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,831,607 shares of the basic materials company's stock, valued at approximately $82,038,000. Bank of America Corp DE owned 0.44% of Pan American Silver at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of PAAS. Caisse de depot et placement du Quebec acquired a new position in Pan American Silver during the 2nd quarter worth about $18,800,000. Man Group plc acquired a new stake in shares of Pan American Silver during the second quarter worth about $106,636,000. Polar Asset Management Partners Inc. purchased a new position in shares of Pan American Silver in the second quarter valued at approximately $334,000. Jupiter Topco LLC purchased a new position in shares of Pan American Silver in the second quarter valued at approximately $24,761,000. Finally, EFG International AG purchased a new position in shares of Pan American Silver in the second quarter valued at approximately $47,000. Institutional investors and hedge funds own 55.43% of the company's stock.

Pan American Silver Price Performance

Pan American Silver stock opened at $50.02 on Friday. The stock has a market cap of $20.70 billion, a P/E ratio of 15.11, a price-to-earnings-growth ratio of 4.92 and a beta of 0.77. The company has a fifty day simple moving average of $48.29 and a 200-day simple moving average of $51.57. Pan American Silver Corp. has a 12-month low of $33.08 and a 12-month high of $69.99. The company has a current ratio of 2.94, a quick ratio of 2.23 and a debt-to-equity ratio of 0.11.

Pan American Silver (NYSE:PAAS - Get Free Report) TSE: PAAS last released its quarterly earnings data on Wednesday, August 12th. The basic materials company reported $0.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.84 by ($0.11). Pan American Silver had a return on equity of 20.01% and a net margin of 32.04%.The business had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same period in the prior year, the company posted $0.43 earnings per share. The company's revenue was up 38.4% compared to the same quarter last year. Equities analysts expect that Pan American Silver Corp. will post 3.81 EPS for the current fiscal year.

Pan American Silver Increases Dividend

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

Analyst Ratings Changes

Several equities analysts have commented on the stock. Zacks Research raised shares of Pan American Silver from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 18th. Weiss Ratings lowered Pan American Silver from a "buy (b)" rating to a "buy (b-)" rating in a research report on Thursday, July 16th. Royal Bank Of Canada reduced their price objective on Pan American Silver from $65.00 to $56.00 and set an "outperform" rating on the stock in a research note on Wednesday. Jefferies Financial Group decreased their target price on 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, Scotiabank reissued an "outperform" rating on shares of Pan American Silver in a research note on Tuesday, July 14th. Seven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $67.71.

Pan American Silver Company Profile

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.

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