Jupiter Topco LLC Takes $24.76 Million Position in Pan American Silver Corp. $PAAS

Key Points

• Jupiter Topco LLC acquired 553,979 shares of Pan American Silver valued at approximately $24.76 million, representing about 0.13% of the company. Institutional investors and hedge funds collectively own 55.43% of the stock.
• Analysts remain broadly positive, with eight Buy ratings and three Holds, producing a consensus “Moderate Buy” rating and an average price target of $70.43.
• Pan American Silver reported quarterly revenue growth of 38.4% year over year but missed earnings and revenue estimates. The company raised its quarterly dividend to $0.184 per share, equivalent to a 1.4% annualized yield.

Jupiter Topco LLC acquired a new stake in Pan American Silver Corp. (NYSE:PAAS - Free Report) TSE: PAAS in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 553,979 shares of the basic materials company's stock, valued at approximately $24,761,000. Jupiter Topco LLC owned about 0.13% of Pan American Silver as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Fifth Third Bancorp lifted its position in Pan American Silver by 1,336.1% during the first quarter. Fifth Third Bancorp now owns 517 shares of the basic materials company's stock worth $28,000 after acquiring an additional 481 shares during the last quarter. NFJ Investment Group LLC acquired a new position in shares of Pan American Silver in the second quarter valued at approximately $25,000. Parallel Advisors LLC increased its position in Pan American Silver by 151.8% during the 3rd quarter. Parallel Advisors LLC now owns 642 shares of the basic materials company's stock worth $25,000 after buying an additional 387 shares during the period. Caitong International Asset Management Co. Ltd bought a new position in Pan American Silver during the fourth quarter worth about $34,000. Finally, Danske Bank A S bought a new position in shares of Pan American Silver during the second quarter worth approximately $30,000. 55.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently commented on the company. TD Securities upgraded Pan American Silver from a "hold" rating to a "buy" rating and set a $72.00 price target on the stock in a research report on Monday, May 11th. Scotiabank reiterated an "outperform" rating on shares of Pan American Silver in a report on Tuesday, July 14th. Bank of America dropped their price objective on shares of Pan American Silver from $77.00 to $69.00 and set a "buy" rating for the company in a report on Thursday, July 9th. Zacks Research upgraded shares of Pan American Silver from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 18th. Finally, TD Cowen raised shares of Pan American Silver from a "hold" rating to a "buy" rating and boosted their target price for the stock from $67.00 to $72.00 in a report on Tuesday, May 12th. Eight research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $70.43.

Pan American Silver Stock Down 3.4%

Shares of NYSE:PAAS opened at $53.00 on Friday. The firm has a market cap of $22.10 billion, a P/E ratio of 16.01, a P/E/G ratio of 5.12 and a beta of 0.73. The company has a quick ratio of 2.23, a current ratio of 2.94 and a debt-to-equity ratio of 0.11. Pan American Silver Corp. has a 12-month low of $32.95 and a 12-month high of $69.99. The business has a fifty day simple moving average of $46.65 and a 200 day simple moving average of $52.70.

Pan American Silver (NYSE:PAAS - Get Free Report) TSE: PAAS last released its quarterly earnings results on Wednesday, August 12th. The basic materials company reported $0.73 EPS for the quarter, missing analysts' consensus estimates of $0.84 by ($0.11). The company had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.16 billion. Pan American Silver had a net margin of 32.04% and a return on equity of 20.01%. The company's quarterly revenue was up 38.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.43 EPS. Analysts predict that Pan American Silver Corp. will post 4.02 earnings per share for the current year.

Pan American Silver Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 4th. Shareholders of record on Monday, August 24th will be given a dividend of $0.184 per share. The ex-dividend date of this dividend is Monday, August 24th. This represents a $0.74 dividend on an annualized basis and a yield of 1.4%. This is a boost from Pan American Silver's previous quarterly dividend of $0.18. Pan American Silver's payout ratio is currently 22.36%.

Pan American Silver Company Profile

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.

Want to see what other hedge funds are holding PAAS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pan American Silver Corp. (NYSE:PAAS - Free Report) TSE: PAAS.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source