Empowered Funds LLC Has $5.16 Million Holdings in Pan American Silver Corp. $PAAS

Key Points

• Empowered Funds LLC increased its Pan American Silver stake by 42.2% in the first quarter, holding 94,404 shares valued at approximately $5.16 million. Institutional investors collectively own 55.43% of the company.
• Pan American Silver reported strong quarterly results, with earnings of $1.09 per share and revenue of $1.33 billion, surpassing estimates and representing 49.3% year-over-year revenue growth.
• Analyst sentiment is generally positive, with a “Moderate Buy” consensus and an average price target of $70.43. The company also declared a quarterly dividend of $0.18 per share, equivalent to a 1.7% annual yield.

Empowered Funds LLC grew its position in shares of Pan American Silver Corp. (NYSE:PAAS - Free Report) TSE: PAAS by 42.2% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 94,404 shares of the basic materials company's stock after purchasing an additional 28,004 shares during the quarter. Empowered Funds LLC's holdings in Pan American Silver were worth $5,157,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PAAS. Vanguard Group Inc. increased its position in shares of Pan American Silver by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 17,465,779 shares of the basic materials company's stock worth $905,513,000 after buying an additional 274,168 shares during the period. Invesco Ltd. raised its stake in Pan American Silver by 9.8% during the third quarter. Invesco Ltd. now owns 9,898,397 shares of the basic materials company's stock worth $383,365,000 after buying an additional 882,135 shares during the last quarter. FIL Ltd lifted its holdings in Pan American Silver by 154.7% in the fourth quarter. FIL Ltd now owns 7,307,777 shares of the basic materials company's stock valued at $378,872,000 after buying an additional 4,438,478 shares during the period. Norges Bank acquired a new position in Pan American Silver in the fourth quarter valued at $303,611,000. Finally, Capital International Investors bought a new stake in Pan American Silver during the fourth quarter valued at $215,484,000. Institutional investors and hedge funds own 55.43% of the company's stock.

Pan American Silver Price Performance

Shares of NYSE PAAS opened at $43.08 on Friday. The firm has a market capitalization of $17.97 billion, a P/E ratio of 13.85, a P/E/G ratio of 3.70 and a beta of 0.72. The firm's 50-day moving average price is $46.98 and its 200-day moving average price is $53.80. The company has a current ratio of 2.84, a quick ratio of 2.11 and a debt-to-equity ratio of 0.11. Pan American Silver Corp. has a 1-year low of $26.76 and a 1-year high of $69.99.

Pan American Silver (NYSE:PAAS - Get Free Report) TSE: PAAS last issued its earnings results on Tuesday, May 5th. The basic materials company reported $1.09 EPS for the quarter, beating the consensus estimate of $1.06 by $0.03. Pan American Silver had a return on equity of 19.50% and a net margin of 31.66%.The company had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.25 billion. During the same period last year, the business posted $0.42 EPS. The firm's revenue for the quarter was up 49.3% compared to the same quarter last year. Equities research analysts anticipate that Pan American Silver Corp. will post 4.15 earnings per share for the current fiscal year.

Pan American Silver Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Tuesday, May 19th were issued a $0.18 dividend. The ex-dividend date was Tuesday, May 19th. This represents a $0.72 annualized dividend and a yield of 1.7%. Pan American Silver's dividend payout ratio is presently 23.15%.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Weiss Ratings downgraded Pan American Silver from a "buy (b)" rating to a "buy (b-)" rating in a report on Thursday, July 16th. TD Cowen raised Pan American Silver from a "hold" rating to a "buy" rating and boosted their price objective for the company from $67.00 to $72.00 in a research note on Tuesday, May 12th. Royal Bank Of Canada restated an "outperform" rating and set a $75.00 target price on shares of Pan American Silver in a research report on Tuesday, April 28th. TD Securities raised Pan American Silver from a "hold" rating to a "buy" rating and set a $72.00 target price for the company in a research note on Monday, May 11th. Finally, Scotiabank reaffirmed an "outperform" rating on shares of Pan American Silver in a research note on Tuesday, July 14th. Eight investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price 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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