Legal & General Group Plc Buys 163,790 Shares of Pan American Silver Corp. $PAAS

Key Points

• Legal & General Group Plc increased its stake in Pan American Silver by 6.4% in the fourth quarter, buying 163,790 shares and bringing its total holding to 2.73 million shares worth about $142.7 million.
• Pan American Silver shares were up 3.7% to $55.29, with the company valued at $23.3 billion and trading near its 50-day and 200-day moving averages.
• The company beat quarterly EPS estimates with $1.09 per share, and analysts remain constructive overall, with a consensus rating of Moderate Buy and an average price target of $68.

Legal & General Group Plc boosted its stake in Pan American Silver Corp. (NYSE:PAAS - Free Report) TSE: PAAS by 6.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,730,291 shares of the basic materials company's stock after purchasing an additional 163,790 shares during the period. Legal & General Group Plc owned about 0.65% of Pan American Silver worth $142,743,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in PAAS. Knights of Columbus Asset Advisors LLC increased its holdings in Pan American Silver by 176.9% in the third quarter. Knights of Columbus Asset Advisors LLC now owns 114,780 shares of the basic materials company's stock worth $4,445,000 after purchasing an additional 73,326 shares in the last quarter. Hollencrest Capital Management increased its holdings in shares of Pan American Silver by 214.3% during the third quarter. Hollencrest Capital Management now owns 121,633 shares of the basic materials company's stock valued at $4,711,000 after acquiring an additional 82,932 shares in the last quarter. Pinpoint Asset Management Singapore Pte. Ltd. bought a new stake in shares of Pan American Silver during the third quarter valued at approximately $1,074,000. Vanguard Group Inc. increased its holdings in shares of Pan American Silver by 21.2% during the third quarter. Vanguard Group Inc. now owns 17,191,611 shares of the basic materials company's stock valued at $666,192,000 after acquiring an additional 3,006,055 shares in the last quarter. Finally, TD Asset Management Inc increased its holdings in shares of Pan American Silver by 13.9% during the third quarter. TD Asset Management Inc now owns 2,251,564 shares of the basic materials company's stock valued at $87,270,000 after acquiring an additional 274,591 shares in the last quarter. Institutional investors own 55.43% of the company's stock.

Pan American Silver Trading Up 3.7%

Shares of Pan American Silver stock opened at $55.29 on Friday. The stock has a fifty day simple moving average of $55.16 and a 200 day simple moving average of $53.98. Pan American Silver Corp. has a 12-month low of $23.88 and a 12-month high of $69.99. The company has a market capitalization of $23.30 billion, a P/E ratio of 17.78, a price-to-earnings-growth ratio of 0.42 and a beta of 0.65. The company has a current ratio of 2.84, a quick ratio of 2.11 and a debt-to-equity ratio of 0.11.

Pan American Silver (NYSE:PAAS - Get Free Report) TSE: PAAS last announced its quarterly earnings data on Tuesday, May 5th. The basic materials company reported $1.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.06 by $0.03. The firm had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.25 billion. Pan American Silver had a return on equity of 19.50% and a net margin of 31.66%.The business's revenue for the quarter was up 49.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.42 EPS. On average, sell-side analysts anticipate that Pan American Silver Corp. will post 4.65 earnings per share for the current fiscal year.

Pan American Silver Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Tuesday, May 19th will be paid a dividend of $0.18 per share. The ex-dividend date is Tuesday, May 19th. This represents a $0.72 annualized dividend and a dividend yield of 1.3%. Pan American Silver's dividend payout ratio is presently 23.15%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. TD Cowen upgraded Pan American Silver from a "hold" rating to a "buy" rating and boosted their price objective for the company from $67.00 to $72.00 in a report on Tuesday, May 12th. Weiss Ratings reiterated a "buy (b)" rating on shares of Pan American Silver in a report on Tuesday, May 12th. Royal Bank Of Canada reiterated an "outperform" rating and set a $75.00 price objective on shares of Pan American Silver in a report on Tuesday, April 28th. Zacks Research cut shares of Pan American Silver from a "strong-buy" rating to a "hold" rating in a report on Wednesday, April 22nd. Finally, Canadian Imperial Bank of Commerce set a $88.00 price objective on shares of Pan American Silver and gave the company an "outperform" rating in a report on Wednesday, February 4th. Eight investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $68.00.

About Pan American Silver

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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