Bank of New York Mellon Corp Reduces Holdings in Pan American Silver Corp. (NYSE:PAAS)

Bank of New York Mellon Corp lessened its holdings in shares of Pan American Silver Corp. (NYSE:PAAS - Free Report) TSE: PAAS by 71.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 515,105 shares of the basic materials company's stock after selling 1,264,163 shares during the period. Bank of New York Mellon Corp owned approximately 0.14% of Pan American Silver worth $13,305,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of PAAS. Raymond James Financial Inc. purchased a new position in shares of Pan American Silver during the fourth quarter worth $6,834,000. Farther Finance Advisors LLC boosted its stake in shares of Pan American Silver by 164.3% in the fourth quarter. Farther Finance Advisors LLC now owns 1,945 shares of the basic materials company's stock valued at $39,000 after purchasing an additional 1,209 shares during the period. Signaturefd LLC increased its stake in Pan American Silver by 6.0% during the 4th quarter. Signaturefd LLC now owns 7,924 shares of the basic materials company's stock worth $160,000 after buying an additional 451 shares during the period. Boston Partners purchased a new position in Pan American Silver in the 4th quarter valued at approximately $561,000. Finally, American Century Companies Inc. grew its stake in shares of Pan American Silver by 3.9% in the fourth quarter. American Century Companies Inc. now owns 1,392,853 shares of the basic materials company's stock worth $28,168,000 after acquiring an additional 52,777 shares in the last quarter. 55.43% of the stock is owned by hedge funds and other institutional investors.

Pan American Silver Stock Up 5.0%

Shares of PAAS traded up $1.40 during midday trading on Monday, reaching $29.49. 5,769,549 shares of the stock were exchanged, compared to its average volume of 4,017,477. The firm has a 50 day simple moving average of $27.16 and a 200-day simple moving average of $25.31. Pan American Silver Corp. has a 12-month low of $17.86 and a 12-month high of $31.03. The company has a market cap of $10.67 billion, a price-to-earnings ratio of 23.41, a P/E/G ratio of 0.44 and a beta of 0.67. The company has a quick ratio of 1.94, a current ratio of 2.93 and a debt-to-equity ratio of 0.16.

Pan American Silver (NYSE:PAAS - Get Free Report) TSE: PAAS last announced its earnings results on Wednesday, May 7th. The basic materials company reported $0.42 earnings per share for the quarter, topping analysts' consensus estimates of $0.19 by $0.23. The company had revenue of $773.20 million during the quarter, compared to the consensus estimate of $696.62 million. Pan American Silver had a net margin of 10.45% and a return on equity of 9.25%. The company's revenue was up 28.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.01 earnings per share. Research analysts forecast that Pan American Silver Corp. will post 1.26 EPS for the current year.

Pan American Silver Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Tuesday, May 20th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date was Tuesday, May 20th. Pan American Silver's dividend payout ratio is currently 45.98%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. National Bankshares reaffirmed an "outperform" rating on shares of Pan American Silver in a report on Wednesday, April 2nd. Wall Street Zen raised Pan American Silver from a "buy" rating to a "strong-buy" rating in a research note on Thursday, May 15th. BMO Capital Markets began coverage on shares of Pan American Silver in a research note on Wednesday, April 16th. They issued a "market perform" rating on the stock. Scotiabank restated a "sector perform" rating on shares of Pan American Silver in a report on Monday, April 14th. Finally, CIBC reissued an "outperform" rating on shares of Pan American Silver in a research note on Tuesday, July 15th. Four research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $31.40.

About Pan American Silver

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.