Cetera Investment Advisers Raises Position in Pan American Silver Corp. (NYSE:PAAS)

Key Points

• Cetera Investment Advisers increased its stake in Pan American Silver Corp. by 11.3%, acquiring an additional 23,303 shares for a total of 229,680 shares worth approximately $5.93 million.
• During recent quarters, other institutional investors such as Renaissance Technologies and Vanguard Group have also significantly increased their holdings in Pan American Silver, demonstrating strong institutional confidence in the company.
• Pan American Silver reported a quarterly earnings of $0.42 EPS, exceeding analysts' estimates by $0.23, while also announcing a quarterly dividend of $0.10 per share.

Cetera Investment Advisers increased its holdings in shares of Pan American Silver Corp. (NYSE:PAAS - Free Report) TSE: PAAS by 11.3% 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 229,680 shares of the basic materials company's stock after purchasing an additional 23,303 shares during the period. Cetera Investment Advisers owned approximately 0.06% of Pan American Silver worth $5,933,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in PAAS. Graybill Wealth Management LTD. purchased a new position in shares of Pan American Silver during the first quarter worth $33,000. Farther Finance Advisors LLC raised its holdings in shares of Pan American Silver by 39.8% during the first quarter. Farther Finance Advisors LLC now owns 2,720 shares of the basic materials company's stock worth $70,000 after purchasing an additional 775 shares during the last quarter. Whittier Trust Co. of Nevada Inc. raised its holdings in shares of Pan American Silver by 507.3% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 4,500 shares of the basic materials company's stock worth $116,000 after purchasing an additional 3,759 shares during the last quarter. Rossby Financial LCC acquired a new stake in Pan American Silver during the first quarter valued at $151,000. Finally, State of Wyoming grew its position in Pan American Silver by 93.8% during the fourth quarter. State of Wyoming now owns 9,161 shares of the basic materials company's stock valued at $185,000 after buying an additional 4,435 shares during the period. Hedge funds and other institutional investors own 55.43% of the company's stock.

Pan American Silver Trading Up 4.1%

NYSE:PAAS traded up $1.11 on Monday, hitting $28.13. The stock had a trading volume of 3,380,967 shares, compared to its average volume of 4,954,362. The company has a quick ratio of 1.94, a current ratio of 2.93 and a debt-to-equity ratio of 0.16. The stock has a market cap of $10.18 billion, a price-to-earnings ratio of 32.33, a PEG ratio of 0.36 and a beta of 0.60. The company has a fifty day moving average price of $28.21 and a two-hundred day moving average price of $25.82. Pan American Silver Corp. has a 1-year low of $17.86 and a 1-year high of $31.03.

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

Pan American Silver Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Tuesday, May 20th were given a $0.10 dividend. The ex-dividend date of this dividend was Tuesday, May 20th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.4%. Pan American Silver's dividend payout ratio is currently 45.98%.

Analyst Upgrades and Downgrades

Several research firms recently commented on PAAS. TD Securities dropped their price target 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. CIBC restated an "outperform" rating on shares of Pan American Silver in a research report on Tuesday, July 15th. BMO Capital Markets initiated coverage on shares of Pan American Silver in a research report on Wednesday, April 16th. They set a "market perform" rating on the stock. Wall Street Zen upgraded shares of Pan American Silver from a "buy" rating to a "strong-buy" rating in a research report on Thursday, May 15th. Finally, Scotiabank reiterated a "sector perform" rating on shares of Pan American Silver in a research report on Monday, April 14th. Four investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $31.40.

Pan American Silver Company Profile

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.