Intech Investment Management LLC Buys 70,593 Shares of Pan American Silver Corp. $PAAS

Key Points

• Intech Investment Management LLC increased its stake in Pan American Silver Corp. by 189%, acquiring nearly 108,000 shares valued at approximately $2.79 million.
• Pan American Silver recently announced a dividend increase, moving from $0.10 to $0.12 per share, with a dividend yield of 1.3%.
• The company reported earnings of $0.43 per share for the last quarter, surpassing analysts' expectations and showing an 18.3% revenue growth year-over-year.

Intech Investment Management LLC lifted its stake in shares of Pan American Silver Corp. (NYSE:PAAS - Free Report) TSE: PAAS by 189.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 107,952 shares of the basic materials company's stock after buying an additional 70,593 shares during the quarter. Intech Investment Management LLC's holdings in Pan American Silver were worth $2,788,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in PAAS. Signaturefd LLC lifted its stake in Pan American Silver by 8.1% in the first quarter. Signaturefd LLC now owns 8,567 shares of the basic materials company's stock valued at $221,000 after buying an additional 643 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in Pan American Silver by 39.8% in the first quarter. Farther Finance Advisors LLC now owns 2,720 shares of the basic materials company's stock valued at $70,000 after buying an additional 775 shares during the last quarter. US Bancorp DE lifted its stake in Pan American Silver by 13.4% in the first quarter. US Bancorp DE now owns 6,959 shares of the basic materials company's stock valued at $180,000 after buying an additional 820 shares during the last quarter. Blair William & Co. IL lifted its stake in Pan American Silver by 4.3% in the first quarter. Blair William & Co. IL now owns 21,718 shares of the basic materials company's stock valued at $561,000 after buying an additional 900 shares during the last quarter. Finally, Advisors Asset Management Inc. lifted its stake in Pan American Silver by 2.8% in the first quarter. Advisors Asset Management Inc. now owns 35,360 shares of the basic materials company's stock valued at $913,000 after buying an additional 970 shares during the last quarter. Institutional investors and hedge funds own 55.43% of the company's stock.

Wall Street Analysts Forecast Growth

PAAS has been the topic of a number of recent analyst reports. Scotiabank cut their price objective on shares of Pan American Silver from $36.50 to $36.00 and set an "outperform" rating on the stock in a research note on Friday, September 5th. National Bankshares restated an "outperform" rating on shares of Pan American Silver in a research note on Friday, September 5th. 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. National Bank Financial upgraded shares of Pan American Silver to a "strong-buy" rating in a research note on Thursday, September 4th. Finally, TD Securities dropped their price target on shares of Pan American Silver from $30.00 to $26.00 and set a "hold" rating on the stock in a research report on Thursday, May 22nd. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $32.20.

Pan American Silver Stock Down 2.6%

Shares of NYSE PAAS traded down $0.96 during trading hours on Tuesday, hitting $36.23. The stock had a trading volume of 6,299,699 shares, compared to its average volume of 5,473,142. The company has a market capitalization of $15.29 billion, a P/E ratio of 24.99, a P/E/G ratio of 0.47 and a beta of 0.65. The firm's 50-day moving average price is $31.53 and its two-hundred day moving average price is $27.88. Pan American Silver Corp. has a 52 week low of $19.80 and a 52 week high of $37.73. 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 posted its earnings results on Wednesday, August 6th. The basic materials company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.03. Pan American Silver had a return on equity of 11.49% and a net margin of 16.80%.The firm had revenue of $811.90 million during the quarter, compared to analyst estimates of $782.12 million. During the same period in the previous year, the company earned $0.11 EPS. The company's revenue for the quarter was up 18.3% on a year-over-year basis. Analysts anticipate that Pan American Silver Corp. will post 1.26 EPS for the current fiscal year.

Pan American Silver Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Monday, August 18th were given a dividend of $0.12 per share. This is a boost from Pan American Silver's previous quarterly dividend of $0.10. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date was Monday, August 18th. Pan American Silver's dividend payout ratio (DPR) is presently 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.