Fearnley Asset Management AS Invests $3.26 Million in Pan American Silver Corp. $PAAS

Key Points

• Fearnley Asset Management disclosed a new fourth-quarter stake in Pan American Silver, buying 62,900 shares valued at about $3.26 million. The position represents roughly 1.5% of its portfolio.
• Pan American Silver continues to attract institutional interest, with large holders such as Van ECK, Vanguard, and FIL Ltd. also increasing their stakes. Overall, institutional and hedge fund investors own 55.43% of the company.
• The company recently beat quarterly EPS estimates, reporting $1.09 per share versus expectations of $1.06, while revenue rose 49.3% year over year. Analysts remain generally constructive, with a consensus rating of Moderate Buy and an average price target of $68.

Fearnley Asset Management AS bought a new stake in shares of Pan American Silver Corp. (NYSE:PAAS - Free Report) TSE: PAAS during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 62,900 shares of the basic materials company's stock, valued at approximately $3,259,000. Pan American Silver accounts for about 1.5% of Fearnley Asset Management AS's portfolio, making the stock its 18th biggest holding.

Other institutional investors have also recently made changes to their positions in the company. Van ECK Associates Corp grew its position in shares of Pan American Silver by 51.8% in the third quarter. Van ECK Associates Corp now owns 45,142,060 shares of the basic materials company's stock valued at $1,748,355,000 after purchasing an additional 15,405,762 shares in the last quarter. Vanguard Group Inc. grew its holdings in Pan American Silver by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 17,465,779 shares of the basic materials company's stock valued at $905,513,000 after buying an additional 274,168 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Pan American Silver by 38.7% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,462,912 shares of the basic materials company's stock valued at $560,149,000 after buying an additional 4,037,311 shares during the period. Invesco Ltd. increased its position in shares of 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 valued at $383,365,000 after buying an additional 882,135 shares during the period. Finally, FIL Ltd lifted its holdings in shares of 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 worth $378,872,000 after buying an additional 4,438,478 shares in the last quarter. Hedge funds and other institutional investors own 55.43% of the company's stock.

Pan American Silver Stock Performance

Shares of NYSE:PAAS opened at $49.07 on Friday. The company has a current ratio of 2.84, a quick ratio of 2.11 and a debt-to-equity ratio of 0.11. The company has a 50-day moving average price of $54.44 and a 200-day moving average price of $55.12. The company has a market cap of $20.67 billion, a price-to-earnings ratio of 15.78, a price-to-earnings-growth ratio of 0.39 and a beta of 0.67. Pan American Silver Corp. has a 12 month low of $26.76 and a 12 month high of $69.99.

Pan American Silver (NYSE:PAAS - Get Free Report) TSE: PAAS last posted its earnings results on Tuesday, May 5th. The basic materials company reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.03. The company had revenue of $1.15 billion for the quarter, compared to analysts' expectations of $1.25 billion. Pan American Silver had a return on equity of 19.50% and a net margin of 31.66%.Pan American Silver's quarterly revenue was up 49.3% on a year-over-year basis. During the same period last year, the firm earned $0.42 earnings per share. As a group, equities analysts anticipate that Pan American Silver Corp. will post 4.65 EPS for the current year.

Pan American Silver Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Tuesday, May 19th were given a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend was Tuesday, May 19th. Pan American Silver's dividend payout ratio (DPR) is currently 23.15%.

Wall Street Analyst Weigh In

Several brokerages recently commented on PAAS. TD Cowen raised shares of 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. TD Securities raised shares of Pan American Silver from a "hold" rating to a "buy" rating and set a $72.00 price objective for the company in a report on Monday, May 11th. Zacks Research lowered shares of Pan American Silver from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, April 22nd. Royal Bank Of Canada restated an "outperform" rating and set a $75.00 price target on shares of Pan American Silver in a research report on Tuesday, April 28th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Pan American Silver in a research note on Tuesday, May 12th. Eight analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $68.00.

Pan American Silver Profile

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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