Bayforest Capital Ltd Grows Position in Pan American Silver Corp. $PAAS

Key Points

• Bayforest Capital Ltd increased its stake in Pan American Silver Corp. by 107.8% during the second quarter, now holding 21,927 shares worth $623,000.
• Analysts have mixed views on Pan American Silver, with price objectives cut by some while others like CIBC increased their target price from $50.00 to $62.00 following an "outperformer" rating.
• Pan American Silver recently announced a quarterly dividend increase from $0.10 to $0.12 per share, reflecting an annualized yield of 1.2% and a payout ratio of 33.10%.

Bayforest Capital Ltd boosted its stake in Pan American Silver Corp. (NYSE:PAAS - Free Report) TSE: PAAS by 107.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 21,927 shares of the basic materials company's stock after buying an additional 11,373 shares during the quarter. Bayforest Capital Ltd's holdings in Pan American Silver were worth $623,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Graybill Wealth Management LTD. purchased a new stake in Pan American Silver in the 1st quarter valued at $33,000. Kiker Wealth Management LLC raised its position in Pan American Silver by 42.4% in the 2nd quarter. Kiker Wealth Management LLC now owns 2,014 shares of the basic materials company's stock valued at $57,000 after buying an additional 600 shares during the last quarter. CWM LLC raised its position 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 during the last quarter. Farther Finance Advisors LLC raised its position 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 during the last quarter. Finally, Trust Co. of Toledo NA OH purchased a new position in Pan American Silver in the second quarter worth $108,000. 55.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on PAAS shares. Scotiabank cut their price objective on Pan American Silver from $36.50 to $36.00 and set an "outperform" rating on the stock in a research report on Friday, September 5th. Zacks Research cut Pan American Silver from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 19th. Weiss Ratings reissued a "buy (b)" rating on shares of Pan American Silver in a research report on Tuesday. National Bank Financial raised Pan American Silver to a "strong-buy" rating in a research report on Thursday, September 4th. Finally, CIBC boosted their price objective on Pan American Silver from $50.00 to $62.00 and gave the stock an "outperformer" rating in a research report on Friday, October 10th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $38.50.

Pan American Silver Stock Performance

Shares of PAAS opened at $39.56 on Wednesday. The firm has a market cap of $16.69 billion, a PE ratio of 27.28, a PEG ratio of 0.65 and a beta of 0.63. The stock's fifty day moving average price is $35.31 and its two-hundred day moving average price is $29.67. 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 1 year low of $19.80 and a 1 year high of $41.50.

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

Pan American Silver Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Monday, August 18th were issued a dividend of $0.12 per share. This is a positive change from Pan American Silver's previous quarterly dividend of $0.10. The ex-dividend date of this dividend was Monday, August 18th. This represents a $0.48 dividend on an annualized basis and a yield of 1.2%. Pan American Silver's payout ratio is currently 33.10%.

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.

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