Allspring Global Investments Holdings LLC Sells 54,279 Shares of Pan American Silver Corp. $PAAS

Key Points

• Allspring Global Investments Holdings LLC reduced its stake in Pan American Silver Corp. by 9.5%, owning approximately 514,140 shares after selling 54,279 during the second quarter.
• Analysts have mixed reviews for Pan American Silver, with one analyst rating it as a Strong Buy, while Zacks Research downgraded it from "strong-buy" to "hold."
• Pan American Silver announced a dividend increase to $0.12 per share, up from $0.10, marking a yield of 1.2% with a payout ratio of 33.10%.

Allspring Global Investments Holdings LLC lessened its stake in Pan American Silver Corp. (NYSE:PAAS - Free Report) TSE: PAAS by 9.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 514,140 shares of the basic materials company's stock after selling 54,279 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.14% of Pan American Silver worth $14,601,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of PAAS. Graybill Wealth Management LTD. bought a new stake in shares of Pan American Silver in the 1st quarter worth approximately $33,000. CWM LLC grew its stake in Pan American Silver by 32.1% in the 2nd quarter. CWM LLC now owns 2,264 shares of the basic materials company's stock valued at $64,000 after buying an additional 550 shares in the last quarter. Farther Finance Advisors LLC grew its stake in Pan American Silver by 39.8% in the 1st quarter. Farther Finance Advisors LLC now owns 2,720 shares of the basic materials company's stock valued at $70,000 after buying an additional 775 shares in the last quarter. Trust Co. of Toledo NA OH purchased a new position in Pan American Silver in the 2nd quarter valued at approximately $108,000. Finally, Whittier Trust Co. of Nevada Inc. grew its stake in Pan American Silver by 507.3% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 4,500 shares of the basic materials company's stock valued at $116,000 after buying an additional 3,759 shares in the last quarter. Institutional investors own 55.43% of the company's stock.

Analyst Upgrades and Downgrades

PAAS has been the subject of a number of recent research reports. National Bank Financial upgraded shares of Pan American Silver to a "strong-buy" rating in a research note on Thursday, September 4th. National Bankshares reiterated an "outperform" rating on shares of Pan American Silver in a research note on Friday, September 5th. Zacks Research lowered shares of Pan American Silver from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 19th. Weiss Ratings reiterated a "buy (b)" rating on shares of Pan American Silver in a research note on Tuesday. Finally, Wall Street Zen lowered shares of Pan American Silver from a "strong-buy" rating to a "buy" rating in a research report on Saturday. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $38.50.

Pan American Silver Stock Down 8.5%

PAAS opened at $38.47 on Friday. The company has a fifty day moving average price of $35.89 and a 200-day moving average price of $29.94. The firm has a market capitalization of $16.24 billion, a P/E ratio of 26.53, a price-to-earnings-growth ratio of 0.64 and a beta of 0.63. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.05 and a quick ratio of 2.11. Pan American Silver Corp. has a one year low of $19.80 and a one year high of $42.57.

Pan American Silver (NYSE:PAAS - Get Free Report) TSE: PAAS last released its quarterly earnings results on Wednesday, August 6th. The basic materials company reported $0.43 EPS for the quarter, beating analysts' consensus estimates of $0.40 by $0.03. The firm had revenue of $811.90 million during the quarter, compared to analyst estimates of $782.12 million. Pan American Silver had a net margin of 16.80% and a return on equity of 11.49%. The business's revenue for the quarter was up 18.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.11 EPS. Equities research analysts expect that Pan American Silver Corp. will post 1.26 earnings per share for the current fiscal year.

Pan American Silver Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Monday, August 18th were given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.2%. This is a boost from Pan American Silver's previous quarterly dividend of $0.10. The ex-dividend date was Monday, August 18th. Pan American Silver's dividend payout ratio (DPR) is presently 33.10%.

Pan American Silver Profile

Pan American Silver Corp. engages in the exploration, mine development, extraction, processing, refining, and reclamation of silver, gold, zinc, lead, and copper mines in Canada, Mexico, Peru, Bolivia, Argentina, Chile, and Brazil. The company was formerly known as Pan American Minerals Corp. and changed its name to Pan American Silver Corp.

Want to see what other hedge funds are holding PAAS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pan American Silver Corp. (NYSE:PAAS - Free Report) TSE: PAAS.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.