Alberta Investment Management Corp Buys Shares of 288,115 Pan American Silver Corp. $PAAS

Key Points

• Alberta Investment Management Corp bought a new stake in Pan American Silver, purchasing 288,115 shares valued at about $14.9 million in the fourth quarter.
• Analysts are broadly positive on the stock: TD Securities and TD Cowen both raised ratings to Buy with a $72 target, while the consensus rating remains Moderate Buy with an average price target of $68.
• Pan American Silver reported Q1 earnings of $1.09 per share, beating estimates, and recently paid a quarterly dividend of $0.18 per share, equal to a 1.4% annualized yield.

Alberta Investment Management Corp bought a new stake in shares of Pan American Silver Corp. (NYSE:PAAS - Free Report) TSE: PAAS in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 288,115 shares of the basic materials company's stock, valued at approximately $14,938,000. Alberta Investment Management Corp owned about 0.07% of Pan American Silver at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Veracity Capital LLC grew its position in shares of Pan American Silver by 1.9% during the 4th quarter. Veracity Capital LLC now owns 9,868 shares of the basic materials company's stock valued at $511,000 after acquiring an additional 185 shares during the period. Metis Global Partners LLC grew its position in shares of Pan American Silver by 1.5% during the 4th quarter. Metis Global Partners LLC now owns 16,646 shares of the basic materials company's stock valued at $863,000 after acquiring an additional 239 shares during the period. Ieq Capital LLC grew its position in shares of Pan American Silver by 2.3% during the 4th quarter. Ieq Capital LLC now owns 11,329 shares of the basic materials company's stock valued at $587,000 after acquiring an additional 259 shares during the period. Linden Thomas Advisory Services LLC grew its position in shares of Pan American Silver by 4.2% during the 4th quarter. Linden Thomas Advisory Services LLC now owns 6,507 shares of the basic materials company's stock valued at $337,000 after acquiring an additional 262 shares during the period. Finally, Harvest Portfolios Group Inc. grew its position in shares of Pan American Silver by 0.9% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 36,240 shares of the basic materials company's stock valued at $1,404,000 after acquiring an additional 318 shares during the period. Institutional investors own 55.43% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. TD Securities raised 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 research report on Monday, May 11th. Wall Street Zen downgraded shares of Pan American Silver from a "strong-buy" rating to a "buy" rating in a research report on Saturday, May 30th. Zacks Research downgraded shares of Pan American Silver from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, April 22nd. TD Cowen raised shares of Pan American Silver from a "hold" rating to a "buy" rating and boosted their price objective for the company from $67.00 to $72.00 in a research report on Tuesday, May 12th. Finally, Royal Bank Of Canada reissued an "outperform" rating and set a $75.00 price objective on shares of Pan American Silver in a research report on Tuesday, April 28th. Eight research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $68.00.

Pan American Silver Trading Up 5.9%

Shares of Pan American Silver stock opened at $50.98 on Tuesday. The company has a market capitalization of $21.48 billion, a P/E ratio of 16.39, a P/E/G ratio of 0.38 and a beta of 0.67. 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 company has a fifty day moving average of $54.93 and a 200 day moving average of $55.01. Pan American Silver Corp. has a fifty-two week low of $26.76 and a fifty-two week high of $69.99.

Pan American Silver (NYSE:PAAS - Get Free Report) TSE: PAAS last issued its earnings results on Tuesday, May 5th. The basic materials company reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.03. The company had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.25 billion. Pan American Silver had a net margin of 31.66% and a return on equity of 19.50%. Pan American Silver's quarterly revenue was up 49.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.42 EPS. On average, sell-side analysts anticipate that Pan American Silver Corp. will post 4.65 earnings per share for the current fiscal year.

Pan American Silver Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Tuesday, May 19th were issued a $0.18 dividend. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $0.72 annualized dividend and a yield of 1.4%. Pan American Silver's dividend payout ratio is currently 23.15%.

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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