Canada Pension Plan Investment Board Makes New $138.28 Million Investment in Pan American Silver Corp. $PAAS

Key Points

• Canada Pension Plan Investment Board acquired 3.09 million shares of Pan American Silver worth approximately $138.3 million, giving it a 0.74% stake. Institutional investors collectively own 55.43% of the company.
• Analyst sentiment is generally positive: Pan American Silver has a consensus “Moderate Buy” rating from 11 analysts and an average price target of $70.43, although some firms recently downgraded the stock or reduced targets.
• The company reported quarterly revenue growth of 38.4% year over year but missed earnings and revenue estimates. It also raised its quarterly dividend to $0.184 per share, implying an annualized yield of about 1.4%.

Canada Pension Plan Investment Board 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 & Exchange Commission. The firm acquired 3,087,685 shares of the basic materials company's stock, valued at approximately $138,282,000. Canada Pension Plan Investment Board owned approximately 0.74% of Pan American Silver at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its position in Pan American Silver by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 17,465,779 shares of the basic materials company's stock valued at $905,513,000 after purchasing an additional 274,168 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Pan American Silver by 9.8% during the third quarter. Invesco Ltd. now owns 9,898,397 shares of the basic materials company's stock worth $383,365,000 after purchasing an additional 882,135 shares during the last quarter. BlackRock Inc. bought a new stake in shares of Pan American Silver during the second quarter worth $375,948,000. FIL Ltd increased its stake 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 buying an additional 4,438,478 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Pan American Silver in the fourth quarter valued at $303,611,000. Institutional investors own 55.43% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PAAS. TD Cowen upgraded shares of Pan American Silver from a "hold" rating to a "buy" rating and upped their price target for the stock from $67.00 to $72.00 in a research report on Tuesday, May 12th. Weiss Ratings cut shares of Pan American Silver from a "buy (b)" rating to a "buy (b-)" rating in a research report on Thursday, July 16th. Wall Street Zen downgraded shares of Pan American Silver from a "buy" rating to a "hold" rating in a research note on Saturday, August 15th. Scotiabank reiterated an "outperform" rating on shares of Pan American Silver in a research report on Tuesday, July 14th. Finally, Jefferies Financial Group decreased 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 note on Monday, July 6th. Eight analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Pan American Silver presently has a consensus rating of "Moderate Buy" and an average target price of $70.43.

Pan American Silver Price Performance

Pan American Silver stock opened at $52.63 on Thursday. The business's 50-day simple moving average is $46.45 and its 200 day simple moving average is $52.70. The stock has a market cap of $21.95 billion, a price-to-earnings ratio of 15.90, a P/E/G ratio of 5.01 and a beta of 0.73. Pan American Silver Corp. has a 12-month low of $32.32 and a 12-month high of $69.99. The company has a quick ratio of 2.23, a current ratio of 2.94 and a debt-to-equity ratio of 0.11.

Pan American Silver (NYSE:PAAS - Get Free Report) TSE: PAAS last announced 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). Pan American Silver had a return on equity of 20.01% and a net margin of 32.04%.The firm had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the prior year, the firm posted $0.43 earnings per share. The business's revenue for the quarter was up 38.4% compared to the same quarter last year. As a group, research analysts anticipate that Pan American Silver Corp. will post 4.06 earnings per share for the current year.

Pan American Silver Increases Dividend

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

Pan American Silver Company Profile

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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