DekaBank Deutsche Girozentrale Has $6.01 Million Stake in Pan American Silver Corp. $PAAS

Key Points

• DekaBank Deutsche Girozentrale significantly increased its stake in Pan American Silver Corp. by 87.2%, now holding 215,636 shares valued at approximately $6.01 million.
• Analysts have set new price targets for Pan American Silver, with CIBC raising it from $50.00 to $62.00 and Scotiabank increasing theirs from $36.00 to $47.00.
• Pan American Silver recently announced a quarterly dividend increase from $0.10 to $0.12 per share, reflecting a growing commitment to returning value to shareholders.

DekaBank Deutsche Girozentrale raised its position in Pan American Silver Corp. (NYSE:PAAS - Free Report) TSE: PAAS by 87.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 215,636 shares of the basic materials company's stock after purchasing an additional 100,444 shares during the quarter. DekaBank Deutsche Girozentrale owned 0.06% of Pan American Silver worth $6,010,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Pan American Silver by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 14,146,213 shares of the basic materials company's stock valued at $365,397,000 after purchasing an additional 138,028 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Pan American Silver by 11.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,029,241 shares of the basic materials company's stock valued at $233,225,000 after acquiring an additional 959,859 shares during the last quarter. Invesco Ltd. increased its position in shares of Pan American Silver by 2.1% in the first quarter. Invesco Ltd. now owns 6,029,828 shares of the basic materials company's stock valued at $155,750,000 after acquiring an additional 121,764 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Pan American Silver by 319.1% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,451,864 shares of the basic materials company's stock valued at $115,009,000 after acquiring an additional 3,389,549 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its position in shares of Pan American Silver by 21.2% in the first quarter. Ameriprise Financial Inc. now owns 3,811,684 shares of the basic materials company's stock valued at $98,510,000 after acquiring an additional 665,502 shares during the last quarter. Institutional investors and hedge funds own 55.43% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Pan American Silver in a research report on Tuesday, October 14th. CIBC lifted their target price on Pan American Silver from $50.00 to $62.00 and gave the company an "outperformer" rating in a research report on Friday, October 10th. National Bankshares reaffirmed an "outperform" rating on shares of Pan American Silver in a research report on Friday, September 5th. Scotiabank lifted their target price on Pan American Silver from $36.00 to $47.00 and gave the company an "outperform" rating in a research report on Thursday. Finally, Zacks Research downgraded Pan American Silver from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 19th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $41.25.

Pan American Silver Trading Up 0.4%

Pan American Silver stock opened at $36.36 on Friday. Pan American Silver Corp. has a 52 week low of $19.80 and a 52 week high of $42.57. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.11 and a current ratio of 3.05. The stock has a market capitalization of $15.35 billion, a P/E ratio of 25.08, a PEG ratio of 0.46 and a beta of 0.63. The stock has a 50-day simple moving average of $36.38 and a 200 day simple moving average of $30.41.

Pan American Silver (NYSE:PAAS - Get Free Report) TSE: PAAS last posted its quarterly earnings results on Wednesday, August 6th. The basic materials company reported $0.43 EPS for the quarter, topping analysts' consensus estimates 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 business had revenue of $811.90 million during the quarter, compared to analysts' expectations of $782.12 million. During the same quarter last year, the company posted $0.11 earnings per share. Pan American Silver's quarterly revenue was up 18.3% on a year-over-year basis. Analysts expect that Pan American Silver Corp. will post 1.26 earnings per share for the current year.

Pan American Silver Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Monday, August 18th were issued a dividend of $0.12 per share. This is a boost from Pan American Silver's previous quarterly dividend of $0.10. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date was Monday, August 18th. Pan American Silver's dividend payout ratio is presently 33.10%.

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.

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