Driehaus Capital Management LLC Buys 937,126 Shares of Pan American Silver Corp. $PAAS

Key Points

• Driehaus Capital Management LLC increased its stake in Pan American Silver Corp. by 77.2%, owning over $55.5 million worth of shares as of the latest filing.
• Pan American Silver recently declared an increased quarterly dividend of $0.12 per share, up from the previous $0.10, reflecting a 1.5% dividend yield.
• The stock currently has a consensus rating of "Hold" from analysts, with a price target of $31.40 per share.

Driehaus Capital Management LLC grew its position in Pan American Silver Corp. (NYSE:PAAS - Free Report) TSE: PAAS by 77.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,151,187 shares of the basic materials company's stock after purchasing an additional 937,126 shares during the period. Driehaus Capital Management LLC owned approximately 0.59% of Pan American Silver worth $55,565,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Graybill Wealth Management LTD. bought a new stake in shares of Pan American Silver in the first quarter valued at about $33,000. Farther Finance Advisors LLC raised its holdings in Pan American Silver by 39.8% during the first quarter. Farther Finance Advisors LLC now owns 2,720 shares of the basic materials company's stock worth $70,000 after acquiring an additional 775 shares in the last quarter. Whittier Trust Co. of Nevada Inc. raised its holdings in Pan American Silver by 507.3% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 4,500 shares of the basic materials company's stock worth $116,000 after acquiring an additional 3,759 shares in the last quarter. Rossby Financial LCC bought a new stake in Pan American Silver during the first quarter worth about $151,000. Finally, Summit Securities Group LLC bought a new stake in Pan American Silver during the first quarter worth about $161,000. 55.43% of the stock is currently owned by institutional investors.

Pan American Silver Stock Performance

Shares of Pan American Silver stock traded up $1.05 on Monday, hitting $33.98. The stock had a trading volume of 4,283,643 shares, compared to its average volume of 4,561,166. Pan American Silver Corp. has a twelve month low of $18.50 and a twelve month high of $33.99. The business's 50 day moving average is $29.92 and its two-hundred day moving average is $26.98. The company has a quick ratio of 2.11, a current ratio of 3.05 and a debt-to-equity ratio of 0.15. The stock has a market cap of $12.30 billion, a price-to-earnings ratio of 23.44, a price-to-earnings-growth ratio of 0.46 and a beta of 0.64.

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

Pan American Silver Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Monday, August 18th were given a dividend of $0.12 per share. This is an increase from Pan American Silver's previous quarterly dividend of $0.10. This represents a $0.48 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend was Monday, August 18th. Pan American Silver's dividend payout ratio (DPR) is currently 33.10%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on PAAS shares. TD Securities dropped their target price 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. Zacks Research lowered Pan American Silver from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 19th. Wall Street Zen lowered Pan American Silver from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 16th. Finally, CIBC reissued an "outperform" rating on shares of Pan American Silver in a research report on Tuesday, July 15th. Three analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, Pan American Silver currently has a consensus rating of "Hold" and an average price target of $31.40.

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.