BlackRock Inc. Acquires New Holdings in Pan American Silver Corp. $PAAS

Key Points

• BlackRock acquired 8.39 million Pan American Silver shares worth approximately $375.9 million, giving it a 2.01% stake. Institutional investors now own 55.43% of the company.
• Analysts maintain a generally positive outlook, with eight Buy ratings and three Holds. The stock has a “Moderate Buy” consensus rating and an average price target of $70.43.
• Pan American Silver missed quarterly earnings and revenue estimates, reporting $0.73 in EPS and $1.12 billion in revenue, but revenue increased 38.4% year over year. The company raised its quarterly dividend to $0.184, representing a 1.4% yield.

BlackRock Inc. bought a new position in Pan American Silver Corp. (NYSE:PAAS - Free Report) TSE: PAAS during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 8,393,564 shares of the basic materials company's stock, valued at approximately $375,948,000. BlackRock Inc. owned 2.01% of Pan American Silver as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in the company. Norges Bank acquired a new position in Pan American Silver in the 4th quarter worth $303,611,000. FIL Ltd lifted its holdings in shares of Pan American Silver by 154.7% in 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 in the last quarter. Capital International Investors acquired a new position in shares of Pan American Silver during the fourth quarter worth about $215,484,000. Bank of America Corp DE grew its holdings in shares of Pan American Silver by 148.3% during the second quarter. Bank of America Corp DE now owns 3,368,233 shares of the basic materials company's stock worth $95,658,000 after buying an additional 2,011,862 shares in the last quarter. Finally, Deutsche Bank AG acquired a new stake in Pan American Silver in the 2nd quarter valued at approximately $79,583,000. Institutional investors own 55.43% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on PAAS shares. Zacks Research upgraded shares of Pan American Silver from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 18th. Weiss Ratings cut Pan American Silver from a "buy (b)" rating to a "buy (b-)" rating in a report on Thursday, July 16th. Bank of America reduced their price target on Pan American Silver from $77.00 to $69.00 and set a "buy" rating for the company in a research report on Thursday, July 9th. TD Cowen upgraded Pan American Silver from a "hold" rating to a "buy" rating and upped their price objective for the stock from $67.00 to $72.00 in a research note on Tuesday, May 12th. Finally, Jefferies Financial Group dropped their price target on shares of Pan American Silver from $54.00 to $53.00 and set a "hold" rating on the stock in a research report on Monday, July 6th. Eight investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $70.43.

Pan American Silver Stock Performance

Shares of NYSE PAAS opened at $54.14 on Wednesday. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.94 and a quick ratio of 2.23. The stock's fifty day moving average price is $46.41 and its two-hundred day moving average price is $52.70. Pan American Silver Corp. has a one year low of $32.32 and a one year high of $69.99. The firm has a market cap of $22.58 billion, a price-to-earnings ratio of 16.36, a P/E/G ratio of 4.95 and a beta of 0.73.

Pan American Silver (NYSE:PAAS - Get Free Report) TSE: PAAS last posted 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 firm had revenue of $1.12 billion for 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 firm's quarterly revenue was up 38.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.43 EPS. On average, equities analysts forecast that Pan American Silver Corp. will post 4.06 EPS for the current year.

Pan American Silver Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 4th. Shareholders of record on Monday, August 24th will be paid a $0.184 dividend. This is a positive change from Pan American Silver's previous quarterly dividend of $0.18. The ex-dividend date is Monday, August 24th. This represents a $0.74 annualized dividend and a yield of 1.4%. Pan American Silver's dividend payout ratio is presently 22.36%.

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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