Groupe la Francaise Buys 13,736 Shares of Pan American Silver Corp. $PAAS

Key Points

• Groupe la Francaise has increased its holding in Pan American Silver Corp. by 8.7%, acquiring an additional 13,736 shares, bringing its total to 172,524 shares valued at approximately $4.46 million.
• Pan American Silver recently reported quarterly earnings of $0.43 EPS, surpassing expectations and marking an 18.3% growth in revenue year-over-year.
• The company has declared an increase in its quarterly dividend to $0.12 per share, effective August 29th, representing a yield of 1.5% and a payout ratio of 33.10%.

Groupe la Francaise grew its position in Pan American Silver Corp. (NYSE:PAAS - Free Report) TSE: PAAS by 8.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 172,524 shares of the basic materials company's stock after acquiring an additional 13,736 shares during the quarter. Groupe la Francaise's holdings in Pan American Silver were worth $4,456,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. Sprott Inc. lifted its position in shares of Pan American Silver by 1.2% in the 1st quarter. Sprott Inc. now owns 2,948,457 shares of the basic materials company's stock worth $76,160,000 after acquiring an additional 33,714 shares during the period. Compound Planning Inc. bought a new stake in shares of Pan American Silver in the 1st quarter worth approximately $318,000. Ameriprise Financial Inc. lifted its position in shares of Pan American Silver by 21.2% in the 1st quarter. Ameriprise Financial Inc. now owns 3,811,684 shares of the basic materials company's stock worth $98,510,000 after acquiring an additional 665,502 shares during the period. Erste Asset Management GmbH bought a new stake in shares of Pan American Silver in the 1st quarter worth approximately $421,000. Finally, Korea Investment CORP lifted its position in shares of Pan American Silver by 0.9% in the 1st quarter. Korea Investment CORP now owns 199,816 shares of the basic materials company's stock worth $5,160,000 after acquiring an additional 1,734 shares during the period. Institutional investors own 55.43% of the company's stock.

Pan American Silver Trading Up 1.9%

Shares of PAAS stock opened at $32.64 on Friday. Pan American Silver Corp. has a 12-month low of $18.50 and a 12-month high of $32.82. The company has a market capitalization of $11.81 billion, a P/E ratio of 22.51, a P/E/G ratio of 0.44 and a beta of 0.60. The firm has a 50-day moving average price of $29.51 and a 200 day moving average price of $26.68. The company has a quick ratio of 2.11, a current ratio of 3.05 and a debt-to-equity ratio of 0.15.

Pan American Silver (NYSE:PAAS - Get Free Report) TSE: PAAS last announced its quarterly earnings results on Wednesday, August 6th. The basic materials company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.03. Pan American Silver had a net margin of 16.80% and a return on equity of 11.49%. The firm had revenue of $811.90 million during the quarter, compared to the consensus estimate of $782.12 million. During the same period last year, the firm posted $0.11 EPS. The firm's quarterly revenue was up 18.3% on a year-over-year basis. Research analysts forecast that Pan American Silver Corp. will post 1.26 earnings per share for the current fiscal year.

Pan American Silver Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Monday, August 18th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Monday, August 18th. This represents a $0.48 annualized dividend and a yield of 1.5%. This is an increase from Pan American Silver's previous quarterly dividend of $0.10. Pan American Silver's payout ratio is 33.10%.

Analyst Ratings Changes

A number of brokerages have commented on PAAS. TD Securities cut their price target on shares of Pan American Silver from $30.00 to $26.00 and set a "hold" rating for the company in a research note on Thursday, May 22nd. CIBC restated an "outperform" rating on shares of Pan American Silver in a research note on Tuesday, July 15th. Wall Street Zen cut shares of Pan American Silver from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 16th. Finally, Zacks Research cut shares of Pan American Silver from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 19th. Three equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $31.40.

About Pan American Silver

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.

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