Groupe la Francaise Acquires 132,500 Shares of Pan American Silver Corp. $PAAS

Key Points

• Groupe la Francaise increased its Pan American Silver stake by 63.9% in the first quarter, purchasing 132,500 additional shares and bringing its total holdings to 340,000 shares worth approximately $18.5 million.
• Analyst sentiment remains broadly positive, with eight Buy ratings, one Hold and one Sell; the stock has a consensus “Moderate Buy” rating and a $70.43 price target, despite several recent target and rating cuts.
• Pan American Silver reported strong quarterly results, with revenue rising 49.3% year over year to $1.33 billion and EPS of $1.09 surpassing expectations. The company also declared a quarterly dividend of $0.18, or $0.72 annualized, yielding about 1.6%.

Groupe la Francaise raised its holdings in shares of Pan American Silver Corp. (NYSE:PAAS - Free Report) TSE: PAAS by 63.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 340,000 shares of the basic materials company's stock after buying an additional 132,500 shares during the period. Groupe la Francaise owned about 0.08% of Pan American Silver worth $18,539,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Fifth Third Bancorp raised its holdings in Pan American Silver by 1,336.1% in the 1st quarter. Fifth Third Bancorp now owns 517 shares of the basic materials company's stock worth $28,000 after purchasing an additional 481 shares during the period. Parallel Advisors LLC lifted its position in Pan American Silver by 151.8% during the third quarter. Parallel Advisors LLC now owns 642 shares of the basic materials company's stock valued at $25,000 after purchasing an additional 387 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in Pan American Silver during the fourth quarter valued at about $34,000. Laurel Wealth Advisors LLC bought a new stake in Pan American Silver during the fourth quarter valued at about $41,000. Finally, Harbor Investment Advisory LLC purchased a new stake in Pan American Silver in the first quarter worth about $44,000. 55.43% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

PAAS has been the topic of a number of analyst reports. Zacks Research cut Pan American Silver from a "hold" rating to a "strong sell" rating in a research report on Friday, July 17th. TD Cowen raised shares of Pan American Silver from a "hold" rating to a "buy" rating and lifted their price target for the company from $67.00 to $72.00 in a report on Tuesday, May 12th. Wall Street Zen lowered shares of Pan American Silver from a "strong-buy" rating to a "buy" rating in a research report on Sunday, July 12th. Jefferies Financial Group reduced their price objective on shares of Pan American Silver from $54.00 to $53.00 and set a "hold" rating for the company in a research note on Monday, July 6th. Finally, Bank of America lowered their target price on shares of Pan American Silver from $77.00 to $69.00 and set a "buy" rating on the stock in a research note on Thursday, July 9th. Eight research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Pan American Silver has an average rating of "Moderate Buy" and a consensus price target of $70.43.

Pan American Silver Trading Up 3.5%

PAAS stock opened at $44.03 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.84 and a quick ratio of 2.11. Pan American Silver Corp. has a 1-year low of $26.76 and a 1-year high of $69.99. The business has a 50 day simple moving average of $47.19 and a two-hundred day simple moving average of $53.88. The company has a market capitalization of $18.36 billion, a price-to-earnings ratio of 14.16, a PEG ratio of 3.65 and a beta of 0.72.

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

Pan American Silver Announces Dividend

The business 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. This represents a $0.72 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date was Tuesday, May 19th. Pan American Silver's payout ratio is currently 23.15%.

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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