Gabelli Funds LLC Increases Stake in Pan American Silver Corp. $PAAS

Key Points

• Gabelli Funds LLC increased its holdings in Pan American Silver Corp. by 19.6%, owning 539,700 shares valued at approximately $13.94 million as of their latest SEC filing.
• Pan American Silver recently reported earnings of $0.43 per share, surpassing analysts' expectations, with revenue up 18.3% year-over-year.
• The company declared a quarterly dividend of $0.12 per share, reflecting an increase from the previous dividend of $0.10, with a yield of 1.5%.

Gabelli Funds LLC increased its position in shares of Pan American Silver Corp. (NYSE:PAAS - Free Report) TSE: PAAS by 19.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 539,700 shares of the basic materials company's stock after purchasing an additional 88,600 shares during the period. Gabelli Funds LLC owned 0.15% of Pan American Silver worth $13,940,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Pan American Silver by 319.1% during 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. TD Asset Management Inc boosted its stake in shares of Pan American Silver by 71.7% in the first quarter. TD Asset Management Inc now owns 1,971,544 shares of the basic materials company's stock valued at $50,917,000 after purchasing an additional 823,390 shares during the period. Man Group plc boosted its stake in shares of Pan American Silver by 381.7% in the fourth quarter. Man Group plc now owns 947,560 shares of the basic materials company's stock valued at $19,160,000 after purchasing an additional 750,858 shares during the period. Ameriprise Financial Inc. boosted its stake 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 purchasing an additional 665,502 shares during the period. Finally, Pale Fire Capital SE purchased a new position in shares of Pan American Silver in the first quarter valued at approximately $16,776,000. 55.43% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PAAS has been the subject of several recent research reports. Zacks Research lowered shares of Pan American Silver from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 19th. Wall Street Zen downgraded shares of Pan American Silver from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 16th. CIBC reiterated an "outperform" rating on shares of Pan American Silver in a research note on Tuesday, July 15th. Finally, TD Securities reduced their price objective on shares of Pan American Silver from $30.00 to $26.00 and set a "hold" rating for the company in a research report on Thursday, May 22nd. Three research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $31.40.

Pan American Silver Stock Performance

PAAS traded up $0.65 during trading on Tuesday, hitting $34.57. The stock had a trading volume of 4,129,301 shares, compared to its average volume of 4,514,694. The firm has a market capitalization of $12.51 billion, a P/E ratio of 23.87, a PEG ratio of 0.46 and a beta of 0.64. Pan American Silver Corp. has a twelve month low of $18.50 and a twelve month high of $35.00. The company's 50-day moving average price is $30.02 and its 200 day moving average price is $27.05. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.11 and a current ratio of 3.05.

Pan American Silver (NYSE:PAAS - Get Free Report) TSE: PAAS last issued its earnings results on Wednesday, August 6th. The basic materials company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.40 by $0.03. The company had revenue of $811.90 million for the quarter, compared to analyst estimates of $782.12 million. Pan American Silver had a net margin of 16.80% and a return on equity of 11.49%. The business's revenue was up 18.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.11 EPS. On average, equities research analysts forecast that Pan American Silver Corp. will post 1.26 EPS for the current fiscal year.

Pan American Silver Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Monday, August 18th were issued a $0.12 dividend. This is a positive change from Pan American Silver's previous quarterly dividend of $0.10. The ex-dividend date was Monday, August 18th. This represents a $0.48 dividend on an annualized basis and a yield of 1.4%. Pan American Silver's payout ratio is currently 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.