488,559 Shares in Pan American Silver Corp. $PAAS Bought by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon acquired 488,559 shares of Pan American Silver worth approximately $21.9 million, while institutional investors collectively own 55.43% of the company.
• Pan American Silver reported quarterly revenue growth of 38.4% year over year, but earnings of $0.73 per share and revenue of $1.12 billion fell short of analyst expectations.
• The company raised its quarterly dividend to $0.184 per share, equivalent to an annualized $0.74 dividend and a 1.4% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $70.43.

Bank of New York Mellon Corp acquired a new position in Pan American Silver Corp. (NYSE:PAAS - Free Report) TSE: PAAS during the second quarter, according to the company in its most recent filing with the SEC. The fund acquired 488,559 shares of the basic materials company's stock, valued at approximately $21,883,000. Bank of New York Mellon Corp owned approximately 0.12% of Pan American Silver at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fifth Third Bancorp boosted its holdings in Pan American Silver by 1,336.1% in the first quarter. Fifth Third Bancorp now owns 517 shares of the basic materials company's stock valued at $28,000 after purchasing an additional 481 shares during the last quarter. Parallel Advisors LLC grew its position in shares of Pan American Silver by 151.8% during the third quarter. Parallel Advisors LLC now owns 642 shares of the basic materials company's stock worth $25,000 after buying an additional 387 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in shares of Pan American Silver in the fourth quarter worth $34,000. Harbor Investment Advisory LLC bought a new stake in shares of Pan American Silver in the first quarter worth $44,000. Finally, Golden State Wealth Management LLC raised its holdings in Pan American Silver by 173.3% in the fourth quarter. Golden State Wealth Management LLC now owns 820 shares of the basic materials company's stock valued at $42,000 after acquiring an additional 520 shares in the last quarter. 55.43% of the stock is owned by hedge funds and other institutional investors.

Pan American Silver Stock Up 0.2%

Shares of NYSE:PAAS opened at $53.00 on Monday. The company's fifty day moving average is $46.65 and its two-hundred day moving average is $52.65. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.23 and a current ratio of 2.94. Pan American Silver Corp. has a 1-year low of $32.95 and a 1-year high of $69.99. The stock has a market capitalization of $22.10 billion, a price-to-earnings ratio of 16.01, a price-to-earnings-growth ratio of 5.06 and a beta of 0.73.

Pan American Silver (NYSE:PAAS - Get Free Report) TSE: PAAS last announced its quarterly earnings data on Wednesday, August 12th. The basic materials company reported $0.73 earnings per share for the quarter, missing analysts' consensus estimates 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 quarterly revenue was up 38.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.43 EPS. Equities analysts anticipate that Pan American Silver Corp. will post 3.91 EPS for the current year.

Pan American Silver Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 4th. Shareholders of record on Monday, August 24th will be paid a $0.184 dividend. The ex-dividend date is Monday, August 24th. This is an increase from Pan American Silver's previous quarterly dividend of $0.18. This represents a $0.74 dividend on an annualized basis and a yield of 1.4%. Pan American Silver's payout ratio is presently 22.36%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on PAAS. Wall Street Zen lowered shares of Pan American Silver from a "buy" rating to a "hold" rating in a report on Saturday, August 15th. 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. Scotiabank reaffirmed an "outperform" rating on shares of Pan American Silver in a research report on Tuesday, July 14th. TD Cowen upgraded Pan American Silver from a "hold" rating to a "buy" rating and lifted their price target for the stock from $67.00 to $72.00 in a research note on Tuesday, May 12th. Finally, Weiss Ratings lowered Pan American Silver from a "buy (b)" rating to a "buy (b-)" rating in a report on Thursday, July 16th. Eight research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $70.43.

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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