Knights of Columbus Asset Advisors LLC Buys 73,326 Shares of Pan American Silver Corp. $PAAS

Key Points

• Knights of Columbus Asset Advisors LLC boosted its stake in Pan American Silver (NYSE: PAAS) by 176.9% in Q3, buying 73,326 shares to hold 114,780 shares valued at $4.445 million.
• Other institutions also increased exposure—Hollencrest Capital up 214.3% to 121,633 shares and J. Safra Sarasin up 117.9%—and institutional investors now own 55.43% of the stock.
• Brokerage sentiment is largely positive with a consensus rating of Moderate Buy and an average target of $47.83 (notable upgrades: CIBC to $62, BofA to $51); PAAS has a $26.69 billion market cap and recently raised its quarterly dividend to $0.14 (annualized $0.56, 0.9% yield).

Knights of Columbus Asset Advisors LLC grew its position in Pan American Silver Corp. (NYSE:PAAS - Free Report) TSE: PAAS by 176.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 114,780 shares of the basic materials company's stock after purchasing an additional 73,326 shares during the quarter. Knights of Columbus Asset Advisors LLC's holdings in Pan American Silver were worth $4,445,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in the business. Hollencrest Capital Management boosted its stake in Pan American Silver by 214.3% in the 3rd quarter. Hollencrest Capital Management now owns 121,633 shares of the basic materials company's stock worth $4,711,000 after purchasing an additional 82,932 shares during the period. TD Waterhouse Canada Inc. lifted its holdings in shares of Pan American Silver by 34.1% in the third quarter. TD Waterhouse Canada Inc. now owns 22,061 shares of the basic materials company's stock worth $868,000 after buying an additional 5,605 shares in the last quarter. Truist Financial Corp boosted its position in shares of Pan American Silver by 0.9% during the third quarter. Truist Financial Corp now owns 50,796 shares of the basic materials company's stock worth $1,967,000 after acquiring an additional 436 shares during the last quarter. J. Safra Sarasin Holding AG grew its stake in Pan American Silver by 117.9% during the third quarter. J. Safra Sarasin Holding AG now owns 43,946 shares of the basic materials company's stock valued at $1,702,000 after acquiring an additional 23,780 shares in the last quarter. Finally, Alta Wealth Advisors LLC bought a new stake in Pan American Silver in the 3rd quarter valued at $309,000. Institutional investors own 55.43% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on PAAS. CIBC increased their price target on Pan American Silver from $50.00 to $62.00 and gave the company an "outperformer" rating in a research note on Friday, October 10th. Wall Street Zen raised shares of Pan American Silver from a "hold" rating to a "buy" rating in a research note on Friday, January 23rd. Zacks Research cut shares of Pan American Silver from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, December 31st. Bank of America boosted their target price on shares of Pan American Silver from $46.00 to $51.00 and gave the stock a "buy" rating in a report on Monday, December 1st. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Pan American Silver in a report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $47.83.

Pan American Silver Price Performance

PAAS opened at $63.27 on Friday. The company has a quick ratio of 1.55, a current ratio of 2.31 and a debt-to-equity ratio of 0.12. The business has a fifty day moving average of $51.88 and a 200 day moving average of $40.56. Pan American Silver Corp. has a 52-week low of $20.55 and a 52-week high of $69.99. The stock has a market cap of $26.69 billion, a P/E ratio of 36.57, a PEG ratio of 0.72 and a beta of 0.67.

Pan American Silver (NYSE:PAAS - Get Free Report) TSE: PAAS last released its earnings results on Wednesday, November 12th. The basic materials company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.01). The business had revenue of $854.60 million for the quarter, compared to the consensus estimate of $867.76 million. Pan American Silver had a return on equity of 11.66% and a net margin of 19.52%.The firm's revenue for the quarter was up 19.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.32 earnings per share. As a group, sell-side analysts anticipate that Pan American Silver Corp. will post 1.26 EPS for the current year.

Pan American Silver Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 5th. Shareholders of record on Monday, November 24th were paid a $0.14 dividend. The ex-dividend date was Monday, November 24th. This represents a $0.56 dividend on an annualized basis and a yield of 0.9%. This is an increase from Pan American Silver's previous quarterly dividend of $0.12. Pan American Silver's payout ratio is currently 32.37%.

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.

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