Choreo LLC Invests $284,000 in Pan American Silver Corp. (NYSE:PAAS)

Key Points

• Choreo LLC has made a new investment in Pan American Silver Corp., acquiring 11,000 shares valued at approximately $284,000 during the first quarter.
• Pan American Silver reported a quarterly earnings per share of $0.42, significantly beating analysts' expectations and reflecting a 28.6% revenue increase year-over-year.
• The company announced a quarterly dividend of $0.10 per share, representing a 1.41% dividend yield and a payout ratio of 45.98%.

Choreo LLC acquired a new stake in Pan American Silver Corp. (NYSE:PAAS - Free Report) TSE: PAAS during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 11,000 shares of the basic materials company's stock, valued at approximately $284,000.

Several other hedge funds have also modified their holdings of PAAS. Financial Sense Advisors Inc. increased its holdings in Pan American Silver by 30.4% in the first quarter. Financial Sense Advisors Inc. now owns 943,173 shares of the basic materials company's stock valued at $24,362,000 after buying an additional 220,006 shares during the last quarter. Allianz Asset Management GmbH increased its holdings in Pan American Silver by 96.2% in the first quarter. Allianz Asset Management GmbH now owns 71,638 shares of the basic materials company's stock valued at $1,850,000 after buying an additional 35,124 shares during the last quarter. Foundry Partners LLC increased its holdings in Pan American Silver by 1.7% in the first quarter. Foundry Partners LLC now owns 251,330 shares of the basic materials company's stock valued at $6,492,000 after buying an additional 4,212 shares during the last quarter. Hussman Strategic Advisors Inc. increased its holdings in Pan American Silver by 319.6% in the first quarter. Hussman Strategic Advisors Inc. now owns 107,000 shares of the basic materials company's stock valued at $2,764,000 after buying an additional 81,500 shares during the last quarter. Finally, Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group purchased a new position in Pan American Silver in the first quarter valued at $5,553,000. 55.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

PAAS has been the topic of several recent analyst reports. CIBC reissued an "outperform" rating on shares of Pan American Silver in a report on Tuesday, July 15th. TD Securities dropped their price objective on Pan American Silver from $30.00 to $26.00 and set a "hold" rating on the stock in a report on Thursday, May 22nd. Wall Street Zen raised Pan American Silver from a "buy" rating to a "strong-buy" rating in a report on Thursday, May 15th. BMO Capital Markets started coverage on Pan American Silver in a report on Wednesday, April 16th. They set a "market perform" rating on the stock. Finally, Scotiabank reaffirmed a "sector perform" rating on shares of Pan American Silver in a report on Monday, April 14th. Four equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $31.40.

Pan American Silver Stock Performance

Shares of PAAS stock traded up $0.32 during mid-day trading on Friday, hitting $27.34. 1,042,376 shares of the stock were exchanged, compared to its average volume of 4,485,291. Pan American Silver Corp. has a 12-month low of $17.86 and a 12-month high of $31.03. The stock has a market capitalization of $9.89 billion, a price-to-earnings ratio of 31.49, a P/E/G ratio of 0.38 and a beta of 0.67. The stock's fifty day simple moving average is $28.15 and its two-hundred day simple moving average is $25.72. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.94 and a current ratio of 2.93.

Pan American Silver (NYSE:PAAS - Get Free Report) TSE: PAAS last announced its earnings results on Wednesday, May 7th. The basic materials company reported $0.42 earnings per share 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 business had revenue of $773.20 million during the quarter, compared to the consensus estimate of $696.62 million. During the same quarter in the prior year, the firm earned $0.01 earnings per share. The business's quarterly revenue was up 28.6% compared to the same quarter last year. On average, analysts forecast that Pan American Silver Corp. will post 1.26 EPS for the current year.

Pan American Silver Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Tuesday, May 20th were paid a dividend of $0.10 per share. The ex-dividend date was Tuesday, May 20th. This represents a $0.40 annualized dividend and a dividend yield of 1.5%. Pan American Silver's dividend payout ratio is 45.98%.

Pan American Silver 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.