Pan American Silver Corp. (NYSE:PAAS) Shares Acquired by Connor Clark & Lunn Investment Management Ltd.

Key Points

• Connor Clark & Lunn Investment Management Ltd. increased its stake in Pan American Silver Corp. by 319.1%, owning approximately 1.23% of the company worth $115 million.
• Pan American Silver recently announced a quarterly dividend increase from $0.10 to $0.12 per share, resulting in an annual yield of 1.5%.
• The company reported earnings per share (EPS) of $0.43 for the last quarter, exceeding analyst estimates and marking an 18.3% year-over-year revenue increase.

Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Pan American Silver Corp. (NYSE:PAAS - Free Report) TSE: PAAS by 319.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,451,864 shares of the basic materials company's stock after purchasing an additional 3,389,549 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 1.23% of Pan American Silver worth $115,009,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Concurrent Investment Advisors LLC purchased a new stake in Pan American Silver in the 1st quarter valued at about $222,000. D.A. Davidson & CO. bought a new position in Pan American Silver in the 1st quarter valued at $358,000. Renaissance Technologies LLC raised its position in shares of Pan American Silver by 110.0% during the 4th quarter. Renaissance Technologies LLC now owns 1,498,246 shares of the basic materials company's stock valued at $30,295,000 after buying an additional 784,906 shares in the last quarter. Credit Industriel ET Commercial purchased a new stake in shares of Pan American Silver during the 4th quarter valued at $8,537,000. Finally, Wellington Management Group LLP raised its position in Pan American Silver by 191.0% in the 4th quarter. Wellington Management Group LLP now owns 167,847 shares of the basic materials company's stock worth $3,394,000 after purchasing an additional 110,170 shares during the period. Institutional investors own 55.43% of the company's stock.

Pan American Silver Stock Down 1.2%

NYSE PAAS traded down $0.39 during trading on Monday, reaching $31.56. 4,775,994 shares of the company's stock traded hands, compared to its average volume of 5,283,299. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.05 and a quick ratio of 2.11. The firm has a market cap of $11.42 billion, a price-to-earnings ratio of 21.76, a price-to-earnings-growth ratio of 0.43 and a beta of 0.60. The company's 50 day simple moving average is $28.90 and its two-hundred day simple moving average is $26.18. Pan American Silver Corp. has a 12-month low of $18.50 and a 12-month high of $32.12.

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

Pan American Silver Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Monday, August 18th will be paid a $0.12 dividend. The ex-dividend date is Monday, August 18th. This represents a $0.48 annualized dividend and a dividend yield of 1.5%. This is an increase from Pan American Silver's previous quarterly dividend of $0.10. Pan American Silver's dividend payout ratio (DPR) is presently 27.59%.

Wall Street Analyst Weigh In

PAAS has been the topic of a number of recent analyst reports. Scotiabank reissued a "sector perform" rating on shares of Pan American Silver in a report on Monday, April 14th. CIBC reissued an "outperform" rating on shares of Pan American Silver in a report on Tuesday, July 15th. BMO Capital Markets assumed coverage on shares of Pan American Silver in a research report on Wednesday, April 16th. They issued a "market perform" rating for the company. TD Securities dropped their target price on shares of 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. Finally, 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. Four equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently 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.