Cheviot Value Management LLC Reduces Stock Holdings in Pan American Silver Corp. $PAAS

Key Points

• Cheviot Value Management cut its Pan American Silver stake by 20.9% in the fourth quarter, selling 37,609 shares and leaving it with 142,308 shares valued at about $7.37 million.
• Pan American Silver reported Q1 earnings of $1.09 per share, beating analyst estimates, while revenue came in at $1.15 billion and was up 49.3% from a year ago.
• The company declared a quarterly dividend of $0.18 per share, and analysts currently rate the stock Moderate Buy with an average price target of $59.67.

Cheviot Value Management LLC cut its holdings in Pan American Silver Corp. (NYSE:PAAS - Free Report) TSE: PAAS by 20.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 142,308 shares of the basic materials company's stock after selling 37,609 shares during the quarter. Pan American Silver comprises 0.8% of Cheviot Value Management LLC's holdings, making the stock its 26th largest position. Cheviot Value Management LLC's holdings in Pan American Silver were worth $7,373,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Veracity Capital LLC increased its holdings in shares of Pan American Silver by 1.9% during the fourth quarter. Veracity Capital LLC now owns 9,868 shares of the basic materials company's stock valued at $511,000 after acquiring an additional 185 shares in the last quarter. Linden Thomas Advisory Services LLC boosted its stake in Pan American Silver by 4.2% in the 4th quarter. Linden Thomas Advisory Services LLC now owns 6,507 shares of the basic materials company's stock worth $337,000 after purchasing an additional 262 shares in the last quarter. Harvest Portfolios Group Inc. grew its position in Pan American Silver by 0.9% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 36,240 shares of the basic materials company's stock worth $1,404,000 after purchasing an additional 318 shares during the last quarter. CoreCap Advisors LLC grew its position in Pan American Silver by 7.9% during the 4th quarter. CoreCap Advisors LLC now owns 4,535 shares of the basic materials company's stock worth $235,000 after purchasing an additional 331 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB increased its stake in Pan American Silver by 18.1% during the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 2,373 shares of the basic materials company's stock valued at $92,000 after purchasing an additional 364 shares in the last quarter. Institutional investors and hedge funds own 55.43% of the company's stock.

Pan American Silver Stock Performance

Shares of NYSE PAAS opened at $59.18 on Friday. The company has a 50 day simple moving average of $56.47 and a two-hundred day simple moving average of $51.68. The stock has a market cap of $24.94 billion, a price-to-earnings ratio of 19.03, a PEG ratio of 0.48 and a beta of 0.65. The company has a current ratio of 2.84, a quick ratio of 1.97 and a debt-to-equity ratio of 0.11. Pan American Silver Corp. has a 12 month low of $22.08 and a 12 month high of $69.99.

Pan American Silver (NYSE:PAAS - Get Free Report) TSE: PAAS last released its quarterly earnings data on Tuesday, May 5th. The basic materials company reported $1.09 earnings per share for the quarter, topping analysts' consensus estimates of $1.06 by $0.03. The firm had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.25 billion. Pan American Silver had a net margin of 31.66% and a return on equity of 19.50%. The business's quarterly revenue was up 49.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.42 earnings per share. As a group, analysts predict that Pan American Silver Corp. will post 4.45 earnings per share for the current year.

Pan American Silver Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Tuesday, May 19th will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Tuesday, May 19th. Pan American Silver's dividend payout ratio (DPR) is currently 23.15%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on PAAS. Canadian Imperial Bank of Commerce set a $88.00 price target on shares of Pan American Silver and gave the stock an "outperform" rating in a report on Wednesday, February 4th. Scotiabank boosted their price objective on shares of Pan American Silver from $47.00 to $64.00 and gave the company an "outperform" rating in a report on Monday, January 26th. Jefferies Financial Group reduced their target price on Pan American Silver from $58.00 to $54.00 and set a "hold" rating for the company in a research note on Wednesday, January 21st. Wall Street Zen raised Pan American Silver from a "buy" rating to a "strong-buy" rating in a research report on Saturday, May 2nd. Finally, Royal Bank Of Canada reiterated an "outperform" rating and set a $75.00 price target on shares of Pan American Silver in a research note on Tuesday, April 28th. Six analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Pan American Silver currently has an average rating of "Moderate Buy" and an average target price of $59.67.

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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