BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Purchases 41,410 Shares of Pan American Silver Corp. $PAAS

Key Points

• British Columbia Investment Management Corp increased its holdings in Pan American Silver Corp. by 25.4%, owning a total of 204,177 shares valued at approximately $5.28 million.
• Several institutional investors, including Graybill Wealth Management and Farther Finance Advisors, have recently acquired positions in Pan American Silver, bringing their institutional ownership to 55.43%.
• Pan American Silver has declared a quarterly dividend of $0.12 per share, increasing from the previous $0.10, which results in an annualized dividend of $0.48 and a yield of 1.5%.

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in Pan American Silver Corp. (NYSE:PAAS - Free Report) TSE: PAAS by 25.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 204,177 shares of the basic materials company's stock after buying an additional 41,410 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned approximately 0.06% of Pan American Silver worth $5,275,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Graybill Wealth Management LTD. purchased a new stake in shares of Pan American Silver in the 1st quarter worth about $33,000. Farther Finance Advisors LLC grew its position in shares of 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 worth $70,000 after buying an additional 775 shares during the period. Whittier Trust Co. of Nevada Inc. grew its position in shares of 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 worth $116,000 after buying an additional 3,759 shares during the period. Rossby Financial LCC purchased a new stake in shares of Pan American Silver in the 1st quarter worth about $151,000. Finally, Summit Securities Group LLC purchased a new stake in shares of Pan American Silver in the 1st quarter worth about $161,000. 55.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on PAAS. CIBC reissued an "outperform" rating on shares of Pan American Silver in a research report on Tuesday, July 15th. Zacks Research downgraded shares of Pan American Silver from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 19th. Wall Street Zen downgraded shares of Pan American Silver from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 16th. Finally, TD Securities cut their price objective on shares of Pan American Silver from $30.00 to $26.00 and set a "hold" rating on the stock in a research report on Thursday, May 22nd. Three analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $31.40.

Pan American Silver Stock Performance

Shares of NYSE:PAAS traded down $0.08 during trading on Thursday, hitting $32.92. The company's stock had a trading volume of 3,653,502 shares, compared to its average volume of 4,614,015. The company has a 50-day moving average of $29.82 and a 200-day moving average of $26.89. Pan American Silver Corp. has a 12 month low of $18.50 and a 12 month high of $33.21. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.05 and a quick ratio of 2.11. The firm has a market cap of $11.91 billion, a price-to-earnings ratio of 22.71, a P/E/G ratio of 0.44 and a beta of 0.60.

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

Pan American Silver Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Monday, August 18th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Monday, August 18th. This is a positive change from Pan American Silver's previous quarterly dividend of $0.10. This represents a $0.48 annualized dividend and a yield of 1.5%. Pan American Silver's payout ratio is presently 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.