26,922 Shares in Pan American Silver Corp. $PAAS Acquired by Cadence Wealth Management LLC

Key Points

• Cadence Wealth Management acquired 26,922 Pan American Silver shares worth approximately $1.21 million, making PAAS its 21st-largest portfolio holding at 0.5% of assets.
• Institutional ownership remains significant at 55.43%, with Vanguard and several other investors recently increasing or initiating positions.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $70.43. Pan American Silver also raised its quarterly dividend to $0.184, while its latest quarterly earnings and revenue came in below expectations despite 38.4% year-over-year revenue growth.

Cadence Wealth Management LLC purchased a new stake in shares of Pan American Silver Corp. (NYSE:PAAS - Free Report) TSE: PAAS during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 26,922 shares of the basic materials company's stock, valued at approximately $1,206,000. Pan American Silver comprises 0.5% of Cadence Wealth Management LLC's portfolio, making the stock its 21st largest position.

Several other large investors have also recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in Pan American Silver by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 17,465,779 shares of the basic materials company's stock worth $905,513,000 after purchasing an additional 274,168 shares during the last quarter. Swiss Life Asset Management Ltd grew its stake in shares of Pan American Silver by 46.9% during the fourth quarter. Swiss Life Asset Management Ltd now owns 58,827 shares of the basic materials company's stock valued at $3,051,000 after buying an additional 18,791 shares during the last quarter. Royal Palms Capital LLC bought a new position in shares of Pan American Silver during the fourth quarter valued at about $2,170,000. E Fund Management Hong Kong Co. Ltd. purchased a new position in shares of Pan American Silver in the fourth quarter worth about $1,341,000. Finally, Delta Investment Management LLC purchased a new position in shares of Pan American Silver in the fourth quarter worth about $2,834,000. 55.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on PAAS. Jefferies Financial Group dropped their price objective on Pan American Silver from $54.00 to $53.00 and set a "hold" rating for the company in a research note on Monday, July 6th. 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. Zacks Research upgraded shares of Pan American Silver from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 18th. Scotiabank reissued an "outperform" rating on shares of Pan American Silver in a research note on Tuesday, July 14th. Finally, Weiss Ratings downgraded Pan American Silver from a "buy (b)" rating to a "buy (b-)" rating in a report on Thursday, July 16th. Eight analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $70.43.

Pan American Silver Stock Performance

Shares of PAAS stock opened at $53.11 on Friday. The firm has a market capitalization of $22.15 billion, a price-to-earnings ratio of 16.05, a PEG ratio of 4.93 and a beta of 0.73. The stock has a fifty day moving average of $46.31 and a 200 day moving average of $52.75. Pan American Silver Corp. has a 52 week low of $31.60 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.

Pan American Silver (NYSE:PAAS - Get Free Report) TSE: PAAS last issued its quarterly earnings data on Wednesday, August 12th. The basic materials company reported $0.73 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 company had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter last year, the company posted $0.43 earnings per share. The firm's revenue for the quarter was up 38.4% compared to the same quarter last year. As a group, research analysts expect that Pan American Silver Corp. will post 4.06 earnings per share for the current year.

Pan American Silver Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 4th. Shareholders of record on Monday, August 24th will be issued a $0.184 dividend. This represents a $0.74 annualized dividend and a yield of 1.4%. This is a boost from Pan American Silver's previous quarterly dividend of $0.18. The ex-dividend date is Monday, August 24th. Pan American Silver's dividend payout ratio (DPR) is 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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