Jupiter Asset Management Ltd. Increases Position in Pan American Silver Corp. (NYSE:PAAS)

Key Points

• Jupiter Asset Management Ltd. increased its stake in Pan American Silver Corp. by 12.9%, acquiring an additional 153,063 shares to total approximately 1.34 million shares, valued at $34.7 million.
• Several hedge funds, including Hsbc Holdings PLC and TD Asset Management Inc., significantly increased their holdings in Pan American Silver, indicating strong institutional interest in the company.
• Analysts have given Pan American Silver an average rating of "Moderate Buy," with a consensus target price of $31.40, while recent earnings exceeded expectations with a reported EPS of $0.42.

Jupiter Asset Management Ltd. lifted its position in shares of Pan American Silver Corp. (NYSE:PAAS - Free Report) TSE: PAAS by 12.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,344,095 shares of the basic materials company's stock after buying an additional 153,063 shares during the period. Jupiter Asset Management Ltd. owned approximately 0.37% of Pan American Silver worth $34,718,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Concurrent Investment Advisors LLC purchased a new position in shares of Pan American Silver during the 1st quarter worth approximately $222,000. D.A. Davidson & CO. acquired a new position in shares of Pan American Silver in the first quarter worth $358,000. Renaissance Technologies LLC grew its stake in shares of Pan American Silver by 110.0% in the fourth quarter. Renaissance Technologies LLC now owns 1,498,246 shares of the basic materials company's stock worth $30,295,000 after acquiring an additional 784,906 shares in the last quarter. Credit Industriel ET Commercial acquired a new position in shares of Pan American Silver in the fourth quarter worth $8,537,000. Finally, Vanguard Group Inc. grew its stake in shares of Pan American Silver by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 14,008,185 shares of the basic materials company's stock worth $283,385,000 after acquiring an additional 221,561 shares in the last quarter. Institutional investors and hedge funds own 55.43% of the company's stock.

Pan American Silver Stock Performance

PAAS traded up $1.11 on Monday, reaching $28.13. The company had a trading volume of 3,380,967 shares, compared to its average volume of 4,954,362. Pan American Silver Corp. has a 1 year low of $17.86 and a 1 year high of $31.03. The stock has a market capitalization of $10.18 billion, a PE ratio of 32.33, a P/E/G ratio of 0.36 and a beta of 0.60. The company has a quick ratio of 1.94, a current ratio of 2.93 and a debt-to-equity ratio of 0.16. The stock has a 50-day moving average price of $28.21 and a 200-day moving average price of $25.82.

Pan American Silver (NYSE:PAAS - Get Free Report) TSE: PAAS last announced its quarterly earnings results on Wednesday, May 7th. The basic materials company reported $0.42 earnings per share for the quarter, beating analysts' consensus estimates of $0.19 by $0.23. Pan American Silver had a net margin of 10.45% and a return on equity of 9.25%. The firm had revenue of $773.20 million during the quarter, compared to analysts' expectations of $696.62 million. During the same period in the previous year, the company earned $0.01 earnings per share. Pan American Silver's quarterly revenue was up 28.6% compared to the same quarter last year. As a group, research analysts forecast that Pan American Silver Corp. will post 1.26 EPS for the current fiscal year.

Pan American Silver Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Tuesday, May 20th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend was Tuesday, May 20th. Pan American Silver's dividend payout ratio is presently 45.98%.

Wall Street Analysts Forecast Growth

Several research firms have commented on PAAS. BMO Capital Markets began coverage on shares of Pan American Silver in a research note on Wednesday, April 16th. They issued a "market perform" rating for the company. Wall Street Zen upgraded shares of Pan American Silver from a "buy" rating to a "strong-buy" rating in a research note on Thursday, May 15th. TD Securities dropped 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. Scotiabank restated a "sector perform" rating on shares of Pan American Silver in a research note on Monday, April 14th. Finally, CIBC reaffirmed an "outperform" rating on shares of Pan American Silver in a research report on Tuesday, July 15th. Four equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Pan American Silver currently has a consensus rating of "Moderate Buy" and a consensus price target of $31.40.

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.