Electrum Group LLC Makes New $4.13 Billion Investment in Pan American Silver Corp. $PAAS

Key Points

• Electrum Group LLC acquired 92,130 Pan American Silver shares in the second quarter, reported as worth approximately $4.13 billion. Institutional investors collectively own 55.43% of the company.
• Pan American Silver shares were trading at $46.60, down 3.1%, after the company reported quarterly EPS of $0.73—below the $0.84 analyst consensus—while revenue rose 38.4% year over year to $1.12 billion.
• The company raised its quarterly dividend to $0.184 per share, representing an annualized payout of $0.74 and a 1.6% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $70.43.

Electrum Group LLC bought a new position in Pan American Silver Corp. (NYSE:PAAS - Free Report) TSE: PAAS in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 92,130 shares of the basic materials company's stock, valued at approximately $4,126,503,000. Pan American Silver accounts for 0.1% of Electrum Group LLC's holdings, making the stock its 9th biggest holding.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Parallel Advisors LLC raised its holdings in shares of Pan American Silver by 151.8% in the third quarter. Parallel Advisors LLC now owns 642 shares of the basic materials company's stock valued at $25,000 after acquiring an additional 387 shares in the last quarter. Fifth Third Bancorp grew its holdings in Pan American Silver by 1,336.1% during the 1st quarter. Fifth Third Bancorp now owns 517 shares of the basic materials company's stock worth $28,000 after acquiring an additional 481 shares in the last quarter. Danske Bank A S bought a new position in Pan American Silver during the 2nd quarter worth about $30,000. Caitong International Asset Management Co. Ltd purchased a new position in Pan American Silver during the 4th quarter valued at about $34,000. Finally, Paladin Partners LLC purchased a new position in Pan American Silver during the 2nd quarter valued at about $40,000. Institutional investors own 55.43% of the company's stock.

Pan American Silver Trading Down 3.1%

NYSE PAAS opened at $46.60 on Wednesday. Pan American Silver Corp. has a 12-month low of $30.59 and a 12-month high of $69.99. The company has a fifty day simple moving average of $45.98 and a two-hundred day simple moving average of $52.85. The company has a current ratio of 2.94, a quick ratio of 2.23 and a debt-to-equity ratio of 0.11. The stock has a market cap of $19.44 billion, a P/E ratio of 14.08, a P/E/G ratio of 4.10 and a beta of 0.73.

Pan American Silver (NYSE:PAAS - Get Free Report) TSE: PAAS last announced its quarterly earnings data on Wednesday, August 12th. The basic materials company reported $0.73 earnings per share for the quarter, missing analysts' consensus estimates of $0.84 by ($0.11). Pan American Silver had a net margin of 32.04% and a return on equity of 20.01%. The company had revenue of $1.12 billion for the quarter, compared to analysts' expectations of $1.16 billion. During the same period last year, the firm earned $0.43 earnings per share. Pan American Silver's quarterly revenue was up 38.4% compared to the same quarter last year. On average, analysts forecast that Pan American Silver Corp. will post 4.11 earnings per share for the current year.

Pan American Silver Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 4th. Shareholders of record on Monday, August 24th will be given a dividend of $0.184 per share. The ex-dividend date of this dividend is Monday, August 24th. This represents a $0.74 dividend on an annualized basis and a yield of 1.6%. This is an increase from Pan American Silver's previous quarterly dividend of $0.18. Pan American Silver's payout ratio is presently 21.75%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on PAAS shares. Jefferies Financial Group lowered their price target on shares of Pan American Silver from $54.00 to $53.00 and set a "hold" rating for the company in a research report on Monday, July 6th. Wall Street Zen lowered shares of Pan American Silver from a "buy" rating to a "hold" rating in a report on Saturday. Zacks Research lowered Pan American Silver from a "hold" rating to a "strong sell" rating in a report on Friday, July 17th. Bank of America dropped their target price on Pan American Silver from $77.00 to $69.00 and set a "buy" rating on the stock in a research report on Thursday, July 9th. Finally, Scotiabank reiterated an "outperform" rating on shares of Pan American Silver in a report on Tuesday, July 14th. Eight research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Pan American Silver has an average rating of "Moderate Buy" and an average price target of $70.43.

About Pan American Silver

Pan American Silver Corp. NYSE: PAAS is a Vancouver-based mining company and one of the world’s largest primary silver producers. The company’s core activities encompass the exploration, development, extraction and processing of silver, with significant by-product production of gold, zinc and lead. Pan American Silver maintains a vertically integrated operating model, covering the full mining value chain from resource discovery through to refined metal production.

With a geographic footprint concentrated across the Americas, Pan American Silver operates multiple mines in Mexico, Peru, Argentina and Bolivia, and is advancing several development and exploration projects in Chile and Ecuador.

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