Lbp Am Sa Sells 26,668 Shares of Pan American Silver Corp. $PAAS

Key Points

• Lbp Am Sa sold 26,668 shares of Pan American Silver Corp, reducing their holdings by 32.5% during the second quarter, bringing their total to 55,267 shares valued at approximately $1.57 million.
• Pan American Silver recently announced a quarterly dividend increase from $0.10 to $0.12 per share, representing an annual yield of 1.2%.
• The company's earnings per share for the previous quarter were reported at $0.43, beating estimates and showcasing a revenue increase of 18.3% year-over-year.

Lbp Am Sa lowered its holdings in Pan American Silver Corp. (NYSE:PAAS - Free Report) TSE: PAAS by 32.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 55,267 shares of the basic materials company's stock after selling 26,668 shares during the quarter. Lbp Am Sa's holdings in Pan American Silver were worth $1,570,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Concurrent Investment Advisors LLC bought a new stake in Pan American Silver in the first quarter valued at about $222,000. D.A. Davidson & CO. bought a new stake in Pan American Silver in the first quarter valued at about $358,000. Intech Investment Management LLC increased its stake in Pan American Silver by 189.0% in the first quarter. Intech Investment Management LLC now owns 107,952 shares of the basic materials company's stock valued at $2,788,000 after acquiring an additional 70,593 shares during the period. Counterpoint Mutual Funds LLC bought a new stake in Pan American Silver in the second quarter valued at about $736,000. Finally, Southland Equity Partners LLC bought a new stake in Pan American Silver during the first quarter worth about $300,000. Institutional investors own 55.43% of the company's stock.

Pan American Silver Price Performance

Shares of PAAS stock opened at $39.18 on Friday. Pan American Silver Corp. has a 1 year low of $19.80 and a 1 year high of $40.34. The firm's 50 day moving average is $33.49 and its 200-day moving average is $28.91. The firm has a market capitalization of $16.54 billion, a price-to-earnings ratio of 27.02, a PEG ratio of 0.63 and a beta of 0.63. The company has a current ratio of 3.05, a quick ratio of 2.11 and a debt-to-equity ratio of 0.15.

Pan American Silver (NYSE:PAAS - Get Free Report) TSE: PAAS last announced its quarterly earnings data on Wednesday, August 6th. The basic materials company reported $0.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $782.12 million. During the same period last year, the firm earned $0.11 earnings per share. The business's revenue for the quarter was up 18.3% on a year-over-year basis. Sell-side analysts forecast that Pan American Silver Corp. will post 1.26 EPS for the current fiscal year.

Pan American Silver Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Monday, August 18th were paid a $0.12 dividend. The ex-dividend date of this dividend was Monday, August 18th. 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 yield of 1.2%. Pan American Silver's payout ratio is 33.10%.

Analysts Set New Price Targets

PAAS has been the topic of several research analyst reports. 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 Bankshares reaffirmed an "outperform" rating on shares of Pan American Silver in a research note on Friday, September 5th. CIBC reaffirmed an "outperform" rating on shares of Pan American Silver in a research note on Tuesday, July 15th. Scotiabank decreased 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. 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. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, Pan American Silver currently has a consensus rating of "Moderate Buy" and an average target price of $32.20.

Pan American Silver 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.