Citigroup Inc. Purchases 583,941 Shares of Pan American Silver Corp. $PAAS

Citigroup Inc. boosted its position in Pan American Silver Corp. (NYSE:PAAS - Free Report) TSE: PAAS by 341.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 754,823 shares of the basic materials company's stock after buying an additional 583,941 shares during the quarter. Citigroup Inc. owned approximately 0.21% of Pan American Silver worth $19,494,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Geode Capital Management LLC grew its position in shares of Pan American Silver by 32.2% in the fourth quarter. Geode Capital Management LLC now owns 2,027,461 shares of the basic materials company's stock valued at $40,776,000 after purchasing an additional 494,133 shares in the last quarter. Envestnet Asset Management Inc. grew its position in shares of Pan American Silver by 19.1% in the fourth quarter. Envestnet Asset Management Inc. now owns 32,862 shares of the basic materials company's stock valued at $664,000 after purchasing an additional 5,276 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Pan American Silver in the fourth quarter valued at $6,834,000. Barclays PLC grew its position in shares of Pan American Silver by 3.8% in the fourth quarter. Barclays PLC now owns 63,791 shares of the basic materials company's stock valued at $1,290,000 after purchasing an additional 2,352 shares in the last quarter. Finally, Mariner LLC grew its position in shares of Pan American Silver by 6.0% in the fourth quarter. Mariner LLC now owns 24,865 shares of the basic materials company's stock valued at $503,000 after purchasing an additional 1,408 shares in the last quarter. 55.43% of the stock is owned by hedge funds and other institutional investors.

Pan American Silver Price Performance

NYSE:PAAS traded down $0.23 during trading hours on Monday, hitting $31.40. 935,044 shares of the company's stock traded hands, compared to its average volume of 4,548,067. The firm has a market cap of $11.36 billion, a P/E ratio of 21.66, a P/E/G ratio of 0.43 and a beta of 0.60. Pan American Silver Corp. has a 52 week low of $18.50 and a 52 week high of $32.50. The business's fifty day simple moving average is $29.23 and its two-hundred day simple moving average is $26.43. The company has a quick ratio of 2.11, a current ratio of 3.05 and a debt-to-equity ratio of 0.15.

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

Pan American Silver Increases Dividend

The company also recently declared 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. This represents a $0.48 annualized dividend and a yield of 1.5%. This is an increase from Pan American Silver's previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Monday, August 18th. Pan American Silver's dividend payout ratio is presently 27.59%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. TD Securities reduced their price target on Pan American Silver from $30.00 to $26.00 and set a "hold" rating for the company in a research report on Thursday, May 22nd. Wall Street Zen lowered Pan American Silver from a "strong-buy" rating to a "buy" rating in a research note on Saturday. Finally, CIBC reissued an "outperform" rating on shares of Pan American Silver in a research note on Tuesday, July 15th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price 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.