Alberta Investment Management Corp Sells 25,800 Shares of Pan American Silver Corp. $PAAS

Key Points

• Alberta Investment Management Corp cut its Pan American Silver stake by 8.2% in the fourth quarter, selling 25,800 shares and leaving it with 288,115 shares worth about $14.94 million.
• Institutional ownership remains heavy, with hedge funds and other investors holding 55.43% of the stock; several large holders, including Van ECK and Vanguard, also reported sizable positions.
• Analyst sentiment is generally positive: TD Securities and TD Cowen upgraded PAAS to buy, and the consensus rating stands at Moderate Buy with an average price target of $68.

Alberta Investment Management Corp lessened its stake in Pan American Silver Corp. (NYSE:PAAS - Free Report) TSE: PAAS by 8.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 288,115 shares of the basic materials company's stock after selling 25,800 shares during the period. Alberta Investment Management Corp owned about 0.07% of Pan American Silver worth $14,938,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in PAAS. Van ECK Associates Corp raised its holdings in shares of Pan American Silver by 51.8% in the 3rd quarter. Van ECK Associates Corp now owns 45,142,060 shares of the basic materials company's stock worth $1,748,355,000 after buying an additional 15,405,762 shares in the last quarter. Vanguard Group Inc. boosted 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 in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Pan American Silver by 38.7% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,462,912 shares of the basic materials company's stock valued at $560,149,000 after buying an additional 4,037,311 shares during the last quarter. Invesco Ltd. increased its position in Pan American Silver by 9.8% in the 3rd quarter. Invesco Ltd. now owns 9,898,397 shares of the basic materials company's stock valued at $383,365,000 after acquiring an additional 882,135 shares in the last quarter. Finally, FIL Ltd grew its stake in shares of Pan American Silver by 154.7% during the fourth quarter. FIL Ltd now owns 7,307,777 shares of the basic materials company's stock valued at $378,872,000 after purchasing an additional 4,438,478 shares during the last quarter. 55.43% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on PAAS. TD Securities upgraded shares of Pan American Silver from a "hold" rating to a "buy" rating and set a $72.00 price objective on the stock in a report on Monday, May 11th. TD Cowen upgraded Pan American Silver from a "hold" rating to a "buy" rating and lifted their price objective for the company from $67.00 to $72.00 in a report on Tuesday, May 12th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Pan American Silver in a research note on Tuesday, May 12th. Wall Street Zen downgraded Pan American Silver from a "strong-buy" rating to a "buy" rating in a research note on Saturday, May 30th. Finally, Royal Bank Of Canada restated an "outperform" rating and issued a $75.00 price target on shares of Pan American Silver in a report on Tuesday, April 28th. Eight investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $68.00.

Pan American Silver Stock Down 2.8%

Shares of PAAS stock opened at $49.07 on Friday. The firm's fifty day moving average price is $54.60 and its two-hundred day moving average price is $55.16. The company has a current ratio of 2.84, a quick ratio of 2.11 and a debt-to-equity ratio of 0.11. Pan American Silver Corp. has a 1 year low of $26.76 and a 1 year high of $69.99. The firm has a market capitalization of $20.67 billion, a P/E ratio of 15.78, a PEG ratio of 0.40 and a beta of 0.67.

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

Pan American Silver Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Tuesday, May 19th were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $0.72 annualized dividend and a dividend yield of 1.5%. Pan American Silver's payout ratio is 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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