Asset One Wealth Management LLC Invests $3.04 Million in Pan American Silver Corp. $PAAS

Key Points

• Asset One Wealth Management acquired 69,740 Pan American Silver shares during the second quarter, valued at approximately $3.04 million. Institutional investors and hedge funds collectively own 55.43% of the company.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $70.43; eight analysts rate the stock Buy and three rate it Hold.
• Pan American Silver increased its quarterly dividend to $0.184 per share, or $0.74 annualized, representing a 1.4% yield. Its latest quarterly earnings and revenue missed analyst estimates despite revenue rising 38.4% year over year.

Asset One Wealth Management LLC acquired a new position in shares of Pan American Silver Corp. (NYSE:PAAS - Free Report) TSE: PAAS in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 69,740 shares of the basic materials company's stock, valued at approximately $3,039,000.

A number of other large investors have also recently bought and sold shares of PAAS. NFJ Investment Group LLC bought a new stake in shares of Pan American Silver during the 2nd quarter worth approximately $25,000. Parallel Advisors LLC increased its stake in Pan American Silver by 151.8% in the third quarter. Parallel Advisors LLC now owns 642 shares of the basic materials company's stock valued at $25,000 after acquiring an additional 387 shares during the last quarter. Fifth Third Bancorp raised its position in Pan American Silver by 1,336.1% during 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 in the last quarter. Danske Bank A S acquired a new position in Pan American Silver during the second quarter valued at approximately $30,000. Finally, Caitong International Asset Management Co. Ltd bought a new stake in Pan American Silver during the fourth quarter worth $34,000. 55.43% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PAAS has been the subject of a number of research analyst reports. Weiss Ratings cut Pan American Silver from a "buy (b)" rating to a "buy (b-)" rating in a report on Thursday, July 16th. Zacks Research raised Pan American Silver from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 18th. TD Securities upgraded Pan American Silver from a "hold" rating to a "buy" rating and set a $72.00 target price on the stock in a research report on Monday, May 11th. BMO Capital Markets reissued a "market perform" rating on shares of Pan American Silver in a research note on Thursday, August 13th. Finally, Bank of America lowered their target price on Pan American Silver from $77.00 to $69.00 and set a "buy" rating for the company in a research note on Thursday, July 9th. Eight investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, Pan American Silver has a consensus rating of "Moderate Buy" and a consensus price target of $70.43.

Pan American Silver Trading Up 0.1%

PAAS opened at $53.11 on Monday. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.94 and a quick ratio of 2.23. Pan American Silver Corp. has a fifty-two week low of $31.60 and a fifty-two week high of $69.99. The company's 50 day moving average price is $46.31 and its two-hundred day moving average price is $52.74. The firm has a market capitalization of $22.15 billion, a price-to-earnings ratio of 16.05, a PEG ratio of 4.90 and a beta of 0.73.

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 earnings per share for the quarter, missing the consensus estimate of $0.84 by ($0.11). The business had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.16 billion. Pan American Silver had a return on equity of 20.01% and a net margin of 32.04%.The business's revenue for the quarter was up 38.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.43 EPS. As a group, research analysts predict that Pan American Silver Corp. will post 4.06 earnings per share for the current year.

Pan American Silver Increases Dividend

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

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source